As preliminary data becomes available regarding merit increase and structure movement budgets, companies should consider the age of their structures and whether an update to the ranges are needed.  Compensation benchmarking should also be undertaken to gauge movement of pay within the marketplace, in conjunction with any structure updates.

This is a multifaceted approach that includes a review of existing job descriptions to ensure they are relevant, a competitive market study that uses job information to benchmark positions within the marketplace, and an evaluation of current market data that may indicate a need to address changes in your salary ranges.