Organizations regularly use market data collected through surveys and data collected from locale organization.
1. Describe each step of using market salary data to set employees pay and incentive plans. Include how to select benchmark jobs, how to collect data internally and in the market (where does the data come from), how the data will be compiled and used.
2. What does it mean to lead, lag, or match the market, and when would each approach be appropriate; make sure to discuss the effect a) applicant pools, b) job skill needed, and c) business growth strategies (such as diversification, market expansion, etc.) has on leading, lagging, matching the market.
No more than one page. Must be plagiarism-free-original work and one outside source.
Great video about Compensations Role https://www.youtube.com/watch?v=xJ8O4ShkR3o&feature=youtu.be
