Compensation Management in a Knowledge-Based World
Visit any 2 websites that offer salary survey information and compare your position/salary with what is offered in those reports (you can either do this for your present position, one you have held in the past, or one you are very familiar with). Henderson (2006) notes several sources in your textbook: the U.S. Department of Labor, the Bureau of Labor Statistics (BLS), the Society for Human Resource Management (SHRM), Watson Wyatt Data Services/ECS, the Economic Research Institute (ERI), William M. Mercer Incorporated, and Organization Resources Counselors, Inc. (ORC) are all useful sites.
Submit a summary report that addresses the following (you do not need to report your actual salary information):
• Which sites did you visit? How useful and user-friendly were those sites?
• Where did the survey information come from? How was it collected?
• What is the title of the position you are examining?
• What is the title of the position on the sites that is most similar?
• What is the reported minimum and maximum level for the position?
• What is the reported midpoint for the position?
• In your experience, how does the actual salary compare?
• In your opinion, what data or information missing from the reports?
• What information in the reports surprised you?
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