Compensation Analysis
THE IMPORTANCE OF AN INTERNAL EQUITY ANALYSIS
Sometimes in a hot job market organizations focus on external market forces when hiring that perfect candidate. However, failing to consider internal equity could lead to a myriad of problems including:
- Destabilization of your existing salary structure
- Violations of Federal and State equal opportunity standards
- Loss of existing employees who feel undervalued
Keeping sight of the big picture through internal equity analysis can help maintain that perfect balance.
MAINTAINING THE INTEGRITY OF YOUR SALARY STRUCTURE
The salary structure is often one of those compensation components that receives little attention. Once established it is easy to forget that it needs ongoing care to be effective. Organizations that delay the care and maintenance of their salary structure can face some difficult challenges in recruitment and retention.
Keeping your salary structure in alignment with regional and industry markets allows you to remain an employer of choice in a competitive market. So roll up your sleeves and get ready to start crunching those numbers. Don't have the resources or time? Contact us at Wing Solutions for assistance in bringing your salary structure up to date.
For information on the above services contact us at compensation@wingsolutions.net