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Jenni Marquez, CCP, PayScale Compensation Professional PayScale’s Comp Glossary returns! Consider the comp pros at PayScale to be an extension of your team! Gather external data and evaluate that information against how you are paying internally. 2) BENCHMARK JOB Definition: A job commonly found in the market.
However, usually, these conclusions tend to be made based on a comparison with peers working in the same job and industry. For example, how, precisely, will you estimate the value of these jobs without a lot of information? Researching the market. So how do you identify and fix compensation issues? Geographical differentials.
Other elements of diversity to consider include age, sexual preference, location, socio-economic background, political affiliation, veteran status, and even religious affiliation. For instance, in 2013 the Pew Research Center analyzed the US Bureau of Labor Statistics data. This means being mindful of word choices. Pay Equity.
There are several salary comparison tools to help aggregate data for specific roles. Indeed also provides a free tool for salary comparisons. Other tools like PayScale, Salary.com, and LinkedIn Salary require a subscription or payment to access data but contain a larger number of job titles and data sets.
However, in order to use this information to make positive changes in your company, you need to be able to sort turnover into two buckets, voluntary turnover vs. involuntary turnover , and calculate the turnover rate for each. Unsatisfactory backgroundcheck: This includes falsifying records and failed drug tests.
In a new Payscale report , companies pay women whose credentials are comparable to men’s 99 cents on every dollar that their male counterparts receive. The report refers to a wage comparison between men and women with equivalent qualifications as a “controlled” gender pay gap. No employer expects to pay every employee the same wage.
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