How should we bring employee pay up to the levels of the newly hired? — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

How should we bring employee pay up to the levels of the newly hired?

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Q: “I’m considering pay raises to compete with the current industry standard. If new hires are starting at a higher rate than what we currently pay, is it a viable solution to raise current employee salaries to that of the newly hired using a formula? Example: A job is advertised at $18 per hour for new hires, and the company will look at raising current employees with no infractions to the advertised rate. Those current employees who have infractions will have a window of opportunity to raise their pay if they stay infraction-free. Do you see any issues with this as a fair and standard way of discerning pay raises for current employees?” - K., Virginia

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