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This question is about employer.
How to develop a pay structure?
To develop a pay structure, collect data, research your industry, and implement these salary ranges. The first step to developing a pay structure is researching your industry and learning what is typical and fair for your industry.
It is important to look at your company's overall position in the industry. This helps you understand and collect data representing fair compensation for your employees. You need to figure out how much money you have available for salaries.
Once you know how much you should be paying and how much you can pay, you can create salary ranges for your employees. These ranges can give way to varied levels of experience and skill level. After determining these salary ranges, you can then implement them and inform all employees.
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