When trying to find what the company should pay the employees, the company tends to do a few things to try and make sure that they are being competitive. First they look at what the product cost in that area, that way they sell the product high enough to make money but they don't want it too expensive so no one buys it. Next the look at the labor market. The try to find what other companies pay their employees for the same job. Last they look at cost of living in that area, they take all of those into consideration before deciding what is a fare wage to pay employees.
EMOTIONAL HOOK:
What would you do if you got hired by a company and years later you find out that the competitor is paying a lot more money, and are looking to hire experienced workers. You bring this up to your boss who is worried about loosing all of their employees. The company decides not to give you competitive raise, but they give you a little raise and give you big bonuses if you promise to stay. What would you do?
KEY POINTS:
Before you start a job you a little research, find out what other companies are paying, find out what the cost of living is in your area, this way you can negotiate pay.
FACILITATED QUESTION:
How much do you think you are worth? Do you get paid competitively? Would you change your job if you got paid more some where else?
Mel you got a blog!! YAY. I love it by the way. I'm so glad we spend three glorious years working together :)
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