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New Business 01 November 17, 2020RFP No. 2114001 Classification and Compensation Study and Analysis Services Contract Between Effing ham County Board of Commissioners 601 North Laurel Street Springfield,

How to fill out classification and compensation study

How to fill out classification and compensation study

1. Gather job descriptions and ensure they are up to date.
2. Determine the appropriate job evaluation method to be used.
3. Conduct job analysis to gather information on the duties, responsibilities, skills, and qualifications required for each position.
4. Determine the appropriate salary survey data to use for benchmarking.
5. Evaluate each position based on the job evaluation method chosen and compare it to market data.
6. Develop a new classification and compensation structure based on the analysis and findings.
7. Implement the new structure and communicate changes to employees.

Who needs classification and compensation study?

1. Organizations looking to ensure fair and competitive pay for their employees.
2. Companies experiencing high turnover rates and looking to retain top talent.
3. Businesses undergoing rapid growth or restructuring.
4. Governments and public sector organizations aiming for transparency and equity in pay scales.

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What is classification and compensation study?

A classification and compensation study is an analysis conducted by organizations to evaluate their job classifications and the associated compensation rates to ensure they are competitive and equitable within the labor market.

Who is required to file classification and compensation study?

Typically, public sector organizations and larger private companies are required to file a classification and compensation study to comply with regulations or for internal assessments.

How to fill out classification and compensation study?

To fill out a classification and compensation study, organizations should gather job descriptions, conduct market research on salaries, and analyze employee performance and qualifications to ensure accurate and fair classifications.

What is the purpose of classification and compensation study?

The purpose of a classification and compensation study is to ensure fair pay practices, enhance employee morale, attract and retain talent, and maintain compliance with legal standards regarding wages and job classifications.

What information must be reported on classification and compensation study?

The information that must be reported includes job titles, job descriptions, current salaries, compensation structures, market salary data, and justification for classifications and pay differentials.