Roadmap to Salary Growth using Step Rate Compensation a TimeBased Pay Approach

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In this video, we dive into the Pay Scale Step Rate Model. This is a compensation structure that ensures incremental increases over time in well-defined steps, such as seniority and years of service milestones. • Organizations rely on step-rate compensation structures to maintain pay equity, ensuring that employees are compensated based on their roles and seniority, and to encourage retention. This can be beneficial when measuring performance is difficult, and high turnover is an issue. • Whether you're an HR professional seeking equitable salary structures or an individual looking to understand the intricacies of pay progression, this video provides the insights and tools you need to create your own custom template for salary growth. • Find the Pay Scale step rate model template covered in this video here: https://timesavingtemplates.com/produ... • For Free Resources: https://timesavingtemplates.com/freer...

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