How to best determine employee pay
Many factors go into how to best determine employee pay for doing a particular job. Some of these are system factors that result in identifying a range of pay of how much a job is worth to that company, and some are individual factors that result in the actual pay of a person within that range. The material in this blog is extracted from Davis, John H., Statistics for Compensation: A Practical Guide to Compensation Analysis. These factors all influence an organization’s ability to attract, retain, motivate, and align the kinds and numbers of employees needed to achieve the organization’s goals. These are shown here. System factors affecting employee pay …