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ch 9 evaluting the market

Course Code
Ying Hong

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pa higher comp. level offered by an employer b/c
of undesirable aspects of the employment
ápa kinds of competitors: those in the same labour market & those in the
same product/service market
ápn the labour market there are a crucial dimensions: the occupational
grouping & the geographical scope of the market (local, regional,
ápÔarket comparator firms: forms selected as comparators when
constructing a sample of market data
pc: 3 main 3rd-party sources: govǯt agencies,
industry groups & comp. consulting firms
áp^: ease & cost
áp: may not cover the desired jobs or employers
áp^ggregate data
p: informal surveys (groups of colleagues at an industry
function) & formal surveys (internal staff)
cc 
! p"
psurvey ~10-15% of jobs
puse an effective method of matching an orgǯs job to those being surveyed:
áp#: including jobs on a comp. survey that are well
understood & numerous in the labour market & asking respondents to
supply comp. info for these jobs - job title + summary is provided
a p #:
a.pnfo about base pay, perf. pay, indirect pay, weekly hours of work,
formal pay ranges of ea. jobǥ
0 p$:
a.pFirms like to survey other employers that they perceive similar to
them in industry type, location & size
a.pPersonal interviews: best-quality info, costly
b.pQuestionnaires: cheapest, least reliable
c.pTelephone interview: cheaper & high quality, control
d.pnternet survey: fast
p^ssessing the central tendency of pay & variation across employers by using:
áp: summing the values & divide by # of values
áp&.: mean that adjusts the avg. based on the # of
cases to which ea. value pertains
áp: middle value in an ordered list of values
ápÎ&: division of an ordered list of values into either
4(quartile) or 10(decile) groups
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