Discuss the following: Surveying the Market, Determining the Relevant Market
1. Using Market Surveys
What is a market survey? What factors determine the relevant market for a survey? Why is the definition of the relevant market so important?
2. Salary Ranges and Pay Bands
What are the differences between salary ranges or pay grades and pay bands? Why would you use either? What are the pros and cons of using them to achieve internal alignment? How do they help or hinder external competitiveness?
3. Review Case Study; Getting and using Compensation Information