Pure Market Pricing – A Salary Structure Design for Today’s Challenging Labor Market
Enter Your Information
Enter Your Information to Access Your White Paper
*Fields are required
In this white paper:
A workforce with critical skills can be in high demand, and pure market pricing can be an effective approach to retain these employees.
A compensation plan based on pure market pricing can be designed in a variety of ways tailored to the specific needs of an organization.
When pay is market competitive and delivered fairly and equitably throughout an organization, it will support in the company’s ability to attract, retain, motivate, and engage employees.
Pure market pricing is relatively simple to calculate but can be time-consuming when there are many jobs to market price and salary grades are included in the approach.
Pure market pricing is an excellent approach in a highly competitive marketplace with low unemployment. It allows a company to be very responsive to the labor market while ensuring the ability to attract, retain, motivate, and engage a talented workforce.
Top management’s support of any compensation plan is always critical to the success of the overall program.
