Compensation Structure

A compensation structure is an organized plan detailing how employees are paid for their work. It outlines salary ranges, bonuses, benefits, and any other forms of compensation based on factors like role, experience, and performance. This structure helps ensure fairness, competitiveness, and clarity in pay, motivating employees and aligning their efforts with company goals. It also provides a transparent framework for salary progression and adjustments over time, making it easier for both management and staff to understand how compensation is determined and what is needed to advance.