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Identify some of the major reasons for conducting survey. How will you prepare yourself while conducting Compensation survey? . SURVEYING MARKET PAY AND COMPENSATION PRACTICES By Arvind Shrouti. Learning Objectives. The major problems that restrict the gathering & analysis of Pay survey data.
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Identify some of the major reasons for conducting survey. How will you prepare yourself while conducting Compensation survey?
SURVEYING MARKET PAY AND COMPENSATION PRACTICESBy Arvind Shrouti
Learning Objectives • The major problems that restrict the gathering & analysis of Pay survey data. • The importance of conducting pay surveys. • Preparing to conduct survey • Various kinds of survey methods • Designing a survey • Analyzing survey data
Critical Pay Survey Problems • Obtaining Proper job match • Collecting useful data • Ensuring an acceptable sample of organizations & jobs • Relating data to Organizational Pay Policies • Integrating market pay data with internally generated job worth data and pay structure design data. • Recognizing the goals of pay survey data designers and implementers. • Analyzing & making inferences from collected pay data.
Why Conduct a Survey ? • Hiring & Retaining Competent Employees • Promoting Worker Productivity • Developing an Adequate & Acceptable Pay Structure • Recognizing Pay Trends in the Market • Defending Pay Practices in a Court of Law
Scope of The Survey • Do the problem areas exist only within certain functions or work units. • Bargainable or Non-Bargainable • Middle management, Particular professional Jobs or certain clerical jobs. • In short define the scope carefully with all considerations.
Preparing For The Survey • Development, Implementation and Analysis • Classification of Job or Occupation • Pay Structure • Identification of the Labour market • Influence of Competing Organizations • Selection of Respondents • Cooperation of Respondents • Kinds of data to be collected • Maintenance of Confidentiality • Compliance with legislative mandates
Data Collection Techniques • Telephone • Mailed Questionnaire • Online • Face to Face Interview • Conference • Agreements
Identifying the Survey Methods • Job matching • Class Matching • Occupational Survey method • Job Evaluation Method • Broad Classification Method
Analysis & Findings of the Compensation Survey • Analysis • Measuring Statistics • Major Findings & Interpretations
Question • Identify the major reasons for conducting a compensation survey & Explain the various stages involved in the Compensation.