Ensuring Competitive Salaries

2 years ago

Are you considering promoting or reclassifying some of your staff in order to retain them during
these times of high turnover? If you haven’t had your positions reviewed against the market
lately, you may want to do so to ensure your salaries are still competitive.

If you are thinking of promoting one or more of your employees, you will want to ensure the
position is appropriately classified based on the job duties. Unless you have added duties or
plan to add duties that fall outside of the scope of the current classification, promoting the
individual to a new position may not make sense. If so, you may want to consider merit
increases within the current job title.

When looking at market, competitive organizations will generally pay within the midpoint of
the market for that job. If you have the position benchmarked, you may find that you are
paying below that amount. In the case above, the recommendation would be to leave the
employee in the same position but raise the salary to be competitive with the market.
If you are unsure of where your staff salaries stand against those of your competitors, consider
contacting Southwestern HR Consulting today. We have access to national, state, and local
salary data that can help you plan for your staffing and compensation needs.