Employees hold various positions within a company. It is said that there are no easy jobs, but every company follows different job classifications. The classification could be based on the employee’s position, tenure, experience, skills, etc. Every classification has its corresponding paygrade provided in detail in a classified employee salary schedule. You can find what you need to know about classified employee salary schedule in this article. We’ve also included downloadable samples for your reference to help you understand the topic better.
FREE 10+ Classified Employee Salary Schedule Samples
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What Is a Classified Employee Salary Schedule?
Managers and their constituents don’t have the same salary grade even if they are all regular employees of a company. Often, a manger’s monthly salary is way bigger than their employee’s compensation. Of course, they perform a much bigger responsibility than their employees. And when it comes to appraisals or salary increases, the difference in their pay rate is evident. All this information is available in a classified employee salary schedule. This schedule uses a specific salary table that outlines how much employees earn at different stages of their careers. Government workers, like public school teachers, are paid using a salary schedule.
A classified salary schedule, also called a salary matrix, should not be confused with the pay period. Pay periods are fixed dates of every month where employees receive their salaries. You can see it on employee payroll templates. Salary schedule templates, on the other hand, provides a list of pay levels that an employee can achieve if they are qualified. In an employee salary sheet sample, workers get grouped according to their qualifications. For example, employees with a bachelor’s degree are put in one group and labeled as group A in the salary matrix. While those without a degree but have experience get labeled as group B.
How To Make a Classified Employee Salary Schedule
The good thing about having samples and templates is that they make the task a bit easy to make. Well, if you’re planning to make or update your existing classified employee salary schedule, then you’ll need all the help that you can get. Here’s a guide that will give you an idea and help you understand how a salary schedule is made.
1. Determine the Overall Pay Range
The first step is to determine the minimum and maximum salary for the company’s employees. In this pay range, employees with the lowest grade will fall under the minimum, and those with the highest grade will get the maximum. This step will involve research and survey data to determine the salary range for each position. It will also help you set parameters according to your company’s compensation policy.
2. List Down the Number of Grades
In this, you will need to select the number of grades you want to have. Have it based on your company size, results of job evaluations, and job diversity. Small companies don’t need a lot of grades. But if you’re running a large corporation, it’s only practical to use more salary grades. There is no minimum or maximum salary grade limit requirement, so you can freely choose the number that is best for your organization.
3. Assign a Pay Range Per Grade
It’s similar to what you did in the first step, only that you’ll be doing it on each grade or level and not for the whole company. A spread of +/- 15-20% is common, but it really depends on what the employer thinks is acceptable. Salary survey data will be a great help in establishing the pay range for each grade.
4. Create a Pay Grade Chart
After reappearing all the data, you will need to present your grade matrix in a salary table format or a chart template. How your pay grade chart looks depends on your preferences. You can design your chart or table as you please. You can also use downloadable chart schedule templates online that you want to use.
5. Review and Improve the Chart
Before finalizing anything, it is good practice to always check if you have everything done correctly. This way, you can correct mistakes and make room for improvement.
Why is a salary schedule important?
Every employee aims to become the best, but what motivates them the most is their compensation. Let’s face it. Any working individual would want to earn a salary that allows them to pay their bills and still enjoy a little bit of luxury. So if an employee is well-compensated, they’ll choose to stay longer in that company. And if they know how much they’ll be earning in the long run, it will motivate them to work harder until they get to their desired salary grade. This is one of the reasons why a salary schedule is important and why employees must be made aware of it.
Does every company have a salary matrix?
Salary matrices are common in government agencies or institutions, particularly in public schools. A salary matrix is not a requirement, though, so some companies don’t use it. For most companies, a performance bonus matrix is ideal for their organization. Employees get a pay increase based on their performance at work within a specified period.
Using a classified employee salary schedule or matrix is not a requirement but a choice. If it works for your organization, then use it. If not, use other means that are favorable to both the company and the employees. You should always opt for a win-win situation at all times.
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