A salary structure may have pay grades with minimum, middle and maximum salary ranges. The company uses a salary structure to determine how much salary it is required to pay the employee. It is a payment structure that comprises different components of the total compensation package that a company offers to an employee. Related: What Is Pay Grade? Definition, Structures and Examples What Is A Salary Structure? In this article, we describe what a salary structure is, explain how to calculate it, look at its different components and demonstrate how to make one. By understanding how employers use such a structure to organise payments, you can find the minimum and maximum earning potential for a specific job role and make better career decisions. It ensure pay parity between employees working in the same role and position. When paying salaries to employees, companies generally use a salary structure to ensure fairness and compliance in compensation.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |