With a validated compensation framework, accessible market data, and leveling framework, you should be autonomous in creating your first set of bands. If you need help with this creation part of the process, you can always check our complete guide here.
At first, I wanted to create salary grids without thinking about our compensation philosophy: who we are and what we want to offer to our teams. Now, I know it is crucial to take a step back and be able to dive deep into those topics, as, in the end, having a compensation policy will create reinsurance both for the people team and the managers before starting off the project - Mathilde Fontaine, People Operations Team Lead @ Welcome To The Jungle
Once done, you’ll have to review it all with the business.
Remember that this is a significant step in structuring compensation in your company. How you communicate about it, from project kick-off to global company roll-out, will be critical and determine its overall effectiveness.
You could spend hours building best-in-class salary bands, but your efforts could quickly go to waste if you don't onboard and engage the leadership team, managers, and even employees in the project. Without proper communication, no one will understand how it works or how they can leverage it in their day-to-day activities.
We will guide you through the various communication steps you should take and provide you with some easy-to-use templates to help you succeed in your internal communication about the Salary Bands project.
There's a difference between your comp philosophy and creating a particular band. It helps conversations a lot if you know which of those two things is being questioned at a particular moment - Sophia Deika, People Operation Specialist @ Ecosia
You are convinced you should create salary bands for many reasons (⚖️ promote transparency and fairness, 🧲 attract, retain, and engage your talents, ⚙️ while making pay decisions more efficient), but before getting started, you need want your leadership team (executive team, top managers, no matter what you call them) to be engaged in the project.
Onboarding them on salary bands will be the perfect occasion to:
1️⃣ Re-align on some foundational topics
2️⃣ Have them realize the (positive) impact it will have on their day-to-day
3️⃣ Validate the overall cost of this project
Before getting the project started, some essential topics need to be clarified with your Leadership team, such as: