Why companies use pay ranges

It's common knowledge that many companies use pay ranges for positions to control how much any person in said position gets paid. But why do companies use these ranges? Are they beuracratic nonsense? Or do they really serve a purpose? Check out this video for an overveiw on this practice.

Agenda Introduction 0:00
Post-Introduction 0:30
What is a market value 0:43
Design the Range 1:20
Provide Ranges to stay within 2:07
Guidelines within Ranges 4:15
Creating Consistency 5:30
Help Conduct Analysis 6:00


Translated titles:
Por qué las empresas utilizan rangos de pago

Warum Unternehmen Gehaltsbereiche verwenden

Pourquoi les entreprises utilisent des échelles salariales

Por que as empresas usam faixas de pagamento

क्यों कंपनियां पे रेंज का उपयोग करती ह

公司为何使用薪资范围

Waarom bedrijven betalingsbereiken gebruiken

Perché le aziende utilizzano fasce di paga

企業が支払い範囲を使用する理由

Почему компании используют диапазоны оплаты

[StreamlineHRSolutions]

This video provides a primer for why companies use pay ranges (in under 8 minutes). Whether you work in HR, or are just curious as to the practice, this video should answer your questions.