Help with discussion question with original answer
Time limit:1 Day
"Compensation Considerations" Please respond to the following:
Determine the best way to leverage compensation surveys to set the level of compensation for your current (or future) job position. Provide specific examples to support your response.
From the e-Activity, determine how you would integrate internal job structures with external market pay rates to set a base pay rate for the position you researched.
Nov 3rd, 2015
Thank you for the opportunity to help you with your question!
The best way to leverage compensation surveys is by doing market research concerning the salaries of other companies even if it means buying the information. In turn, this helps greatly in determing the level of compensation in the particular job. eg: in a situation wherby a competing company is offering more compensation then it is important to set the level of compensation regarding their level to avoid lose of employees.
Internal job structures can be intergrated with external market pay rate by collecting market data in order to determine the value of their job. Through the determination of a company's job value then it is easy to set a pay rate.
Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 3rd, 2015
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