Benefits of a well structure pay grade:

 

 

• Clarifies the market and internal value for each job, and provides a way to manage employee pay effectively.

• Quantifies compensation costs & enables budget decisions.

• Validates compensation strategy & aligns to business goals.

• Provides a tool to talk with employees about development.

• Ensures pay equity.

• Determines pay for non-benchmark jobs.

• Allows ease of administration

An aligned Talent with Strategy allows you to see how each of your team member is contributing to your larger business. With B7’s help, your firm can implement effective Talent Management strategies that will help your business and people scale new heights. We help you develop your people so both of you can grow together and make the most out of your potentials.

 

Helping you find, grow, align and keep your employees.

 

• Increased hiring speed and improves candidate satisfaction

• Strengthens employment brand

• Reduce cost, risk and administrative burden.

• Better screening and selection tools and practices.

• Learning management enables quicker identification of potential gaps in your team’s knowledge and skills.

• Effective measure of your team’s progress against your company’s larger vision.

• Retain your best people through appropriate compensation management.

• Good succession management with planned and a systematised process of dealing with organisational change.

• Improves entire Human Capital Management

1. Compensation philosophy.

2. Organization-wide job evaluations.

3. External market analysis.

 

Step 1:

Identify Multiple Schedules

Provides a way of grouping together multiple labour markets, using the same set of pay grades.

Streamlines pay structure.

Consideration: how complex is your organization?

 

Step 2:

Determine Pay Grades

There are no fixed rules for every organization.

Decide how many grades you will have.

 

Step 3:

Develop Ranges

 

Step 4:

Assign Grades to Positions; Adjust for Internal Equity

Hire to Retire Software Solutions

 

• Recruiting

• Onboarding

• Learning Performance and Goals

• Compensation

• Succession and Development

• Organisational Planning