MAINTAINING A COMPETITIVE EDGE: ENSURING MARKET RELATED REMUNERATION
In a year full of uncertainty, let us help you determine fair and market related salaries – ensuring that you are neither under- nor over-paying your employees.
Dear M3 Client
Employee salary decisions are critical – retaining your valuable employees is imperative to not only surviving but thriving in uncertain economic times. Over the last year, many organisations implemented a moratorium on increases or bonuses.
But as the economy is starting to recover, we have found that many businesses have an increased awareness on the importance of having the right team to drive the new post COVID versions of their businesses. Now is the time to ensure that you align your remuneration and benefits to the “Jones’s next door”.
But how much is enough? During more ‘normal times’, standard increases were easier to estimate – but nothing was normal about this past year! This year, we urge you to rely on DATA. This is gathered from our comprehensive salary survey (Sep 2020 - April 2021), based on similar companies in your industry - providing you with the most up-to-date information regarding market related salary ranges.
HOW CAN YOUR COMPANY OBTAIN THIS INFORMATION?
Market related salary ranges are provided per job grade. If you have formally evaluated the positions in your organisation to determine the job grades, you can email Louise@m3online.co.za or Mabatho at Mabatho@m3online.co.za for the latest salary information. Alternatively, contact us on 021 863 1444 for a job evaluation consultation, to help you determine the value of the positions in your organisation, and from there indicate the relevant salary ranges.
“Paying your employees well is not only the right thing to do but it makes for good business” – James Sinegal
We look forward to assisting you in ensuring that your employees are competitively remunerated!
