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How do I set wage levels?
How do I determine what the salary levels are for groups of employees that I'm adding to my business. We're small, but I want to set a good precedent.
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1 Answer
If you have limited resources you might want to look into Salary.com it will give you basic information that you can use as a guideline. Another approach might be to talk with your local chamber of commerce or industry association.
Once you have a budget you might want to look into doing a formal study that would provide very detailed information about your industry, competitors, help you establish compensation philosophy, salary grades and ranges etc.
Hope it helps.
Jim Geier
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