March 6, 2014
Our company has put a new five-band salary structure in place, but it's already causing worries for our executives. We have some longtime employees–those with at least 15 years' experience–who are underpaid, so the plan is to boost their pay to competitive market levels. As we do so, however, we're faced with hiring new employees for those same jobs at the higher salaries–even though they don't have the years of experience with us. Short of redoing the salary structure again, what are our options for handling this thorny situation?