Crafting Compliant Pay Bands: A Strategic Approach

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Building pay bands is hard. It was never supposed to be that way.

What to Expect from the Series

For three weeks, we’ll dive into the critical aspects of building pay bands. From understanding the fundamentals to incorporating market research and ensuring compliance with state regulations, our series is tailored to help you establish fair and competitive pay structures. Our goal is to equip you with actionable knowledge so you can confidently create and manage pay bands that align with your organizational goals.

 

Why This Series Matters

In today’s competitive job market, having a well-defined compensation strategy with structured pay bands is crucial. Our series will help you navigate the complexities of building pay bands, ensuring your organization attracts and retains top talent while maintaining compliance with regulatory requirements.

By the end of the series, you will learn:
  • Why pay bands are suddenly so important and their significance in the compensation structure of organizations.
  • How pay bands foster transparency, internal equity, and compliance with state and regulatory requirements.
  • What are the essential factors that go into building pay bands, including location, education, and experience requirements.
  • How to analyze job roles, responsibilities, skills, and qualifications to determine appropriate pay bands.
  • How to build a compensation band by following a walk-through from our team

I’m ready to build pay bands.

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LaborIQ: Stay Ahead of the Hiring Curve

Our technology ensures you get precise, up-to-date salary benchmarking information so you can address your ongoing compensation decisions with confidence. Get pay right with customizable salary searches by location for over 20,000 job titles.

Compensation Planning

Overcome employee retention risks

  • Get employee-specific salary recommendations to proactively determine turnover risks
  • Utilize forward-looking pay data for next year’s headcount budgets instead of lagged surveys.
  • Determine what to pay during off-cycle salary adjustments, whether it’s for promotions or counter offers.

Salary Recommendations

Get Pay right

  • Stay up-to-date with salaries in a changing market, especially when backfilling a role due to compensation challenges
  • Be confident your salary range is competitive in locations requiring pay transparency.
  • Leverage our database of skills and responsibilities for 20,000+ jobs when defining a new role in your organization.

Pay Benchmarking

  • Benchmark employees’ pay to identify pay gaps and total cost to correct.
  • Detect retention risks early.
  • Compare salaries by years of experience, organization size or level.

“I loved the granularity that the platform offered. I love the fact that you can specify not only the position title and location but also the education level, the years of experience and the size of the company.”

Alex Chausovsky

Director of Analytics and Consulting

Miller Resource Group

“I definitely would recommend LaborIQ to anyone, really in talent acquisition because it allows you to be really prepared with this market research and allows you to really set these expectations as you go into the recruiting process.”

Taylor Franco

Recruiting Lead

Calanese

“I loved the granularity that the platform offered. I love the fact that you can specify not only the position title and location but also the education level, the years of experience and the size of the company.”

Kassidy Mays

Director of Analytics and Consulting

Miller Resource Group

“I definitely would recommend LaborIQ to anyone, really in talent acquisition because it allows you to be really prepared with this market research and allows you to really set these expectations as you go into the recruiting process.”

Susan Thomas

Sr. Vice President

10FOLD

“With LaborIQ’s salary recommendations and metro analysis, I was able to identify new markets for talent acquisition and instill confidence in one of our hiring managers that we would be able to staff her team successfully with top talent. And, we know we can keep talent after discovering through LaborIQ that we are a top-paying employer.”

Salvatore Hines

CEO

Idea Ignite

“I definitely would recommend LaborIQ to anyone, really in talent acquisition because it allows you to be really prepared with this market research and allows you to really set these expectations as you go into the recruiting process.”

Ruthie Barnett

Recruiting Lead

TOPS Software

“With LaborIQ’s salary recommendations and metro analysis, I was able to identify new markets for talent acquisition and instill confidence in one of our hiring managers that we would be able to staff her team successfully with top talent. And, we know we can keep talent after discovering through LaborIQ that we are a top-paying employer.”

Jennifer Telfer

Talent Acquisition Manager

UltraUplift

“With LaborIQ’s salary recommendations and metro analysis, I was able to identify new markets for talent acquisition and instill confidence in one of our hiring managers that we would be able to staff her team successfully with top talent. And, we know we can keep talent after discovering through LaborIQ that we are a top-paying employer.”

Chaya Porter

CEO

Massive Dynamic

“With LaborIQ’s salary recommendations and metro analysis, I was able to identify new markets for talent acquisition and instill confidence in one of our hiring managers that we would be able to staff her team successfully with top talent. And, we know we can keep talent after discovering through LaborIQ that we are a top-paying employer.”

Karter Hale

Sr. Director of Compensation

Tech Trends

“With LaborIQ’s salary recommendations and metro analysis, I was able to identify new markets for talent acquisition and instill confidence in one of our hiring managers that we would be able to staff her team successfully with top talent. And, we know we can keep talent after discovering through LaborIQ that we are a top-paying employer.”

Jadiel Rosario

Talent Acquisition Manager

Acme Corporation