What You Need To Know

First, you need to understand the factors that determine the rate of pay:

Why You Need To Know

To recruit and keep the best talent, you need to know the going rate for this job in the industry or location of your business. You also need to factor in the level of education, experience, and responsibility the position requires.  You also need to factor in what other people in your company are being paid for doing similar work.

What You Need To Do

Review the going rate at least once per year. Keep your pay relatively in line with others in your industry. Formal salary survey information is available for purchase from different companies. You may also want to check:

The Government of Canada Job Bank website allows you to search compensation details provincially or nationally.

Another consideration is to develop a formal Salary Grid. The grid outlines the pay levels for different positions and pay increases in steps for each position. For example, the schedule may show starting pay, midpoint pay, and the upper range of pay. As a small-to-medium provincially regulated employer, you are not required to have this. Remember that you should not discriminate pay decisions on any of the protected grounds defined by the Human Rights Act.

You can also choose from (or combine) different compensation strategies: