Salary banding is the range of pay established by organizations to pay employees performing a particular job or function. Salary banding defines the market and internal value for each role and provides an effective way to manage employee pay.
Benefits of Salary Banding
With access to market data, employee experience needed to perform each job, and performance data, Cornerstone makes it easy for organizations to define salary bands for every role within the organization. By providing managers the information they need and intuitive tools to help them make better compensation planning decisions, Cornerstone streamlines and simplifies complex compensation planning activities and helps ensure pay equity.