Pay Equity Co-Chair Explores How Pay Bands Can Improve Retention, Drive Engagement
HR Dive recently spoke with Kathleen Caminiti, co-chair of Fisher Phillips’ Pay Equity practice, on why employers use pay bands as a critical part of a compensation strategy. When used effectively, these structures can help employers maintain competitive salaries, track pay equity, improve retention and increase employee engagement. Kathleen explains that having a salary band gives a pay structure that is useful in allowing individuals to know where they stand. In the article, she provides examples of what kinds of companies might benefit from salary bands and when and how to start implementing them.
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