Your company has been taking off, and you're shifting into high gear for hiring. Do you know your budget for your new hires?
Your organization is probably in the annual process of creating a budget. For rapidly growing companies, new hire salaries are your most considerable expense. Getting the budget right for open jobs can mean having the right employees to drive the company's growth or risk cutting back important initiatives and burning out existing employees.
Maybe you're the CFO facilitating the budget for next year's salaries, including new hires. Or you're leading the People team and need to determine how much talent the company can afford while staying within budget, and you're working with leaders to prioritize hiring. When it comes to new hire budgeting, it's essential to balance fiscal responsibility with market competitiveness and internal equity while staying true to the company's values and compensation philosophy. Where do you even start?
This is where Kamsa comes to the rescue. By using Kamsa's straightforward approach to job leveling and market pricing all of your roles, you're set up for success to determine the jobs and respective levels based on business needs. Once you've determined the job levels for your open positions, connect your available jobs seamlessly to the most accurate market compensation data in Kamsa.
Extract those market compensation ranges (midpoints, in particular, is best to use for budgeting):
Budgeting is complex, but it doesn't have to be. Kamsa's Open Jobs feature helps to simplify new hire budgeting to make it painless. Get the market data for all your open jobs at your (and your leader's) fingertips.
Need help getting started? Don't have Kamsa yet? We make compensation painless - hit us up for a demo of the best global compensation tool for data-driven pay decisions.