Pay Grades: How to Develop a Competitive Pay Scale for Your Small But Growing Business

Pay Grades BLR Webinar Recording

When a small business starts out early to build a solid compensation structure, it’s in a better position to expand the plan as the organization grows. If you wait too long, and continue to manage pay through one-off deals, it gets very difficult to sell your managers on the idea of structured pay grades.

Additionally, drafting solid compensation plans can help you maintain positive bottom-line financial results. Particularly in high-growth companies (where recruiters are working feverishly to fill the growing job requisitions), pay grades can decrease the time to hire by preventing bottlenecks related to job offers. Using competitive pay data as the basis for the ranges also puts management in a better position to justify compensation practices to employees and mitigate complaints of unfairness.

Our all-new webinar will provide small businesses with the tools to draft and implement a pay grade strategy, with particular focus on finding the right sources of compensation data, becoming educated on the basics of compensation, and defining the organization’s competitive compensation structure.

Participate in this interactive and timely webinar, and learn:

• The most important variables that affect pay rates, including the local market, employee experience, job descriptions, and more
• Why benefits such as health insurance may factor into the overall per-employee budget
• How to accurately assess what competitors are paying their workers using survey data and other benchmarking tools
• Tips for determining the average pay scale for jobs in the region and in your industry
• How to use national averages when building your pay scales
• Whether you should consider paying new hires a lower rate of pay for the first six months and then bump them up following a good performance review
• The types of industries where pay for performance helps motivate employees to perform well -- and where this philosophy may not be as successful

This webinar was recorded on Friday, June 29, 2012

Pay Grades: How to Develop a Competitive Pay Scale for Your Small But Growing Business

About Your Speaker

Brooke Green is a Principal with Hay Group, where she provides consulting advice and implementation assistance to clients with compensation support needs. Her particular focus is on the design, communication, and execution of broad-based compensation programs within public, private, and nonprofit organizations. She is an instructor for the Northern California Human Resource Association’s continuing education program, currently teaching “Designing and Managing Salary Structures” and “The Ins and Outs of Base Salary Management.”