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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
Participate in or purchase salary and wage surveys. Identify matches for your organization's jobs. Select and gather data. Analyze the data. Calculate a market average. Create a pay structure. Address inconsistencies. Make adjustment decisions.
Define the job. Define the job's purpose, essential duties and responsibilities, required skills and knowledge, experience, and educational level. Price the job. Determine the job's value to your organization. Review where a job fits within a grade/range. Consider organizational factors, including budget.
Take the annual salary of the job and divide it by 240the standard number of work days in a year. That gives you the daily rate for the job. Multiply the number of days of paid time off by the daily rate to determine the value of your PTO.
Define the job. Define the job's purpose, essential duties and responsibilities, required skills and knowledge, experience, and educational level. Price the job. Determine the job's value to your organization. Review where a job fits within a grade/range. Consider organizational factors, including budget.
High Comp Ratio Divide the employee's salary by the MPR. Assume you have a worker who is the most senior of all employees in his position, and he is paid $39,000 per year. To determine the comp ratio for the employee's salary, divide 39,000 by 38,500.
Wage analysis is the process of comparing the salaries of your employees to industry and organization standards. The salaries used for wage analysis are associated with job codes. You use either salary ranges or grade range schedules to perform wage analysis.
Total cash compensation is defined as all cash payments earned by an employee during a year of full-time employment. Total cash compensation includes base salary (or hourly wages), commissions, tips, bonuses and profit sharing.
Total Compensation Definition Total compensation is also expressed in annual, gross terms. Total compensation also includes the dollar value of any or all benefits that you pay for your employees. For example: Paid vacation, sick days and holidays.
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