Your business is growing and it’s clear you’ll need to hire another employee or two by next spring. Have the wages you’re offering kept up with what people expect? Or are you unwittingly paying a lot more than the market rate?
Knowing the appropriate pay rate for the people whose jobs are at the core of your business can be a significant challenge. So how do you set pay rates? There are ways to arrive at the right answer systematically.
People philosophy
Lisa Bazzoni is compensation director for MRA-The Management Association, an employers association based in Wisconsin and with offices in Illinois, Minnesota, and Iowa.
“The
Are You Paying Employees the Right Wages?
Finding the compensation sweet spot will retain great workers without breaking the bank. But getting there can be a major research challenge for small-business owners.
Jan 09, 2019 | by Erik Gunn |
