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Should businesses pay people on a structured and distinct scale or allow employees to negotiate salaries?
Businesses should pay people on a structured and distinct scale rather than allow employees to negotiate salaries.
Paying people the same money for the same job regardless of seniority, experience, education or characteristics (ie age, gender etc) is more fair.
Knowing that you are working in a defined salary structure means you know what to expect.
It is easier for a company to structure outgoings and budget for the future therefore it means they are better placed to make fiscal deductions and plan for the future.
Companies can save money and time in the long run because employee salaries are never prone to fluctuations or negotiations with employees that could go south meaning that people would not have a reason to exit the business on grounds of pay.
Full transparency over pay can help
in the workplace.
Paying people the exact same amount of money regardless of seniority may disincentivise more experienced colleagues and lead them to being disgruntled.
Fully transparent up front pay can mean that top talent is put off because they may consider the remuneration inadequate.
Structured pay may mean that top performers eventually leave the company for more lucrative roles (even ones that are exactly the same as what they do but for a competitor).
Paying people based on negotiation at the hiring phase means that a business can “profit” by hiring people who do the same job for slightly less than what they budget for.
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