Designing and implementing a compensation strategy that is fair and motivating is a tricky but critical part of every organization’s HR operations.
Salary Survey
How Do Anti-Trust Guidelines Impact Market Pricing?
A critical role of the compensation function of Human Resources is verifying the current salary program’s market competitiveness. Years ago, instead of purchasing published data, organizations would have dedicated staff contact competitors or other organizations deemed to be part of the market database, in order to obtain current & projected salary information such as average pay, range minimums & maximums, and planned salary adjustments.