May 2022
Intermediate to advanced
288 pages
7h 6m
English
Content preview from Reward Management, 3rd Edition
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Managing pay data and pay reviews
Pay data
One way or another you need information on the reward market within which you are competing. In smaller organizations it may be very informal and unstructured – simply paying what you need to recruit people. But as an organization gets bigger it is likely to have to take a more structured approach and more formally use market data to be able to compare its pay levels in the external market.
Types of data
There are broadly two types of data:
changes in pay rates: percentage pay increases in the market; and
current pay levels: what particular jobs are paid.
Most of this section relates to the latter, but a few words about changes in pay rates first. Many organizations look for data showing the rates ...
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