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As what i had experienced, the following should be put into consideration:
1. Number of the staff in the company
2. Company sales/income
3. Job responsibilities and position of staff
4. Job qualifications/ experience/ educational attainment
Ex: you have a shoe retail company required staff are about 10-30 persons and your cash flow forecast is 100,000-300,000 per month
the staff you need are the following
a. cashiers- 2-6 persons (1,800-2,500)
b. merchandise and inventory- 3-6 persons (1,800-2,500)
c. sales/ store associate- 4-10 persons (1,500-2,500)
d. over all manager- 2-4 persons (2,500-4,000)
You need to establish a salary pay scale for employees within your business. Don’t hire employees and offer them salaries at random. The salary scale you decide on can influence your business, so choose a compensation philosophy wisely.
The following are the most common methods used to establish pay scales: 1) The going rate 2) Job evolution and pay grading 3) Management fit 4) Skill -based pay atc.
