Salary Fixation Tools and Techniques: A Scientific Brief
To fix salaries effectively, use tools like job analysis, salary surveys, and job evaluation to determine the value of roles and ensure competitive compensation, while also considering legal requirements and internal equity. Here's a more detailed explanation of the tools and techniques: 1. Job Analysis: Purpose: Understanding the specific skills, knowledge, and experience required for each role is crucial for fair and accurate salary fixation. Methods: Job Descriptions: Create detailed job descriptions outlining tasks, responsibilities, and required qualifications. Observation: Observe employees performing their jobs to gain a better understanding of the work involved. Surveys: Conduct surveys with employees and managers to gather information about job duties and requirements. 2. Salary Surveys: Purpose: Identify industry benchmarks and competitive salary ranges for similar roles. Methods: Online Surveys: Utilize online sala...