Inventory management salaries must be competitive in order to keep the employees you value and recruit new staff. But what is the average inventory control manager salary? Obviously, starting salaries for inventory management positions will be less than the pay given to seasoned professionals, but it’s also important to determine average inventory manager salaries for similar positions at other companies in your area.
If you’ve been lucky enough to have had the same inventory manager at your company for years, you may have an especially difficult time determining a fair inventory manager job salary. If you are just adding an inventory manager to your company, you may not even know where to begin. As a business owner, you’ll want to have accurate, up-to-date inventory manager salary information and the following tools will help:
1. Use inventory management salary tools to come up with a fair inventory management salary guide based on several variables.
2. Search job boards for examples of current inventory management salaries based on job description, location and experience level.
3. Purchase inventory management salary software to help you determine competitive compensation and benefits for your inventory management staff.
Determine a fair inventory control salary based on job descriptionIf you don't have job descriptions for your inventory management positions, create them. Things to include are job duties, skills set and expectations. Then, use inventory management salary tools to help you figure out the average inventory management pay for a person that matches the job description. Be sure to keep the number of years of experience and job location in mind.
Compare salaries of inventory managers on national job boardsYou can research all day long and find plenty of hypothetical references, but sometimes real-life examples provide the best information. Check your local newspaper's classified section or search online job boards to find average inventory manager salary information from real job postings. Keep a log for a few weeks to see if a pattern emerges.
Buy inventory manager salary softwareAs a business owner, you may not have the time to do extensive research on salaries of inventory managers, yet you want to come up with fair pay for your staff. Online salary research services and compensation software programs can get you the information you need and are usually quite simple to use.
- If you need to hire a new inventory manager, the same job boards you used to research salaries of inventory managers are a great place to start your search.