companies must think about both internal
The Issue When crafting a pay structure, companies must think about both fitzonefitness.com internal and external equity. The former means making sure that employees who perform similar jobs are paid similarly. External equity means comparisons to what the industry is paying. Creates a “Fair” Culture It’s no secret that if you want a motivated, all-in workforce, you’ve got to create a culture in which people feel like they’re paid equitably. If an employee sees that Matt four cubicles down appropriately makes no more happytechno.net than she, that cultivates a milieu of fairness that will not only help productivity but will boost the company’s reputation, positioning it to lure top talent. Whether you pay fairly or not, word will get out, particularly in this age of online compensation forums and the like. The old days of telling employees to keep their pay to themselves, and expecting that to work, are over. Results in Fewer Lawsuits It’s a fact: while basing wh