Briefly answer the following questions on or before Sunday 11:59 pm:
Note: If you are not with an organization at present, use this as an opportunity to gather information from another person about these questions or conduct your own research on-line about a specific organization.
- With whom does your organization compete in terms of compensation and benefits?
- What is your companyâ€™s competitive pay strategy? Do they attempt to pay more, the same or less than the competitive average in your area and why?
- What is your companyâ€™s policy regarding communications of salary grades and ranges? Why do they do what they do?
- Explain the difference between salary ranges and salary bands. Which does your employer use and why?
- What is a competitive pay line (or market line) and how is it used?