Describe a strategy for restructuring salaries in response to a significant change in industry standards or regulations.
- Align salaries with the new industry standards
- Conduct a comprehensive salary survey
- Implement a flat salary increase for all employees
- Introduce performance-linked incentives
In response to a significant change in industry standards or regulations, aligning salaries with the new standards is crucial. This ensures that the organization remains competitive and compliant with industry norms.
Loading...
Related Quiz
- What is the significance of talent management in strategic HR planning?
- What is a 360-degree feedback approach in the context of measuring training effectiveness?
- How does HR's involvement in strategic planning benefit the organization?
- How can big data be used to improve employee retention strategies?
- Incentive programs that are based on _______ metrics can help in driving team collaboration and unity.