Dear All,
I have come across a very pecular problem but common - where in to attract right talent we have to pay good salary to new recruites which needs to match with industry/market rate and inflation rate.At the same time old employees working in same dept has less salary because he has joined much before and grown with company.If we are paying good salary to new employees,but old do not get inspite of seniority and loyalty factor - how to correct such internal disparity in salary and retain both old and new employees . Please suggest.
I have come across a very pecular problem but common - where in to attract right talent we have to pay good salary to new recruites which needs to match with industry/market rate and inflation rate.At the same time old employees working in same dept has less salary because he has joined much before and grown with company.If we are paying good salary to new employees,but old do not get inspite of seniority and loyalty factor - how to correct such internal disparity in salary and retain both old and new employees . Please suggest.