HRM303 Chapter Notes - Chapter 9: Social Desirability Bias, Interquartile Range, Weighted Arithmetic Mean
4 Mar 2018
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Introduction: a key factor in determining how much to pay your employees is the labour market (however, identifying the. Going market rate for individual jobs is a very complex process) Government agencies: at the federal level, these include statistics canada, human resources and skills development canada, which maintains info on collective agreements as well as other pay info; and the government of canada labour market. Information website: most provincial labour departments also publish some data on compensation levels, so do some municipal government. Industry groups: most industries have industry associations, many of which collect data on pay rates within their industries, many professional associations also collect data on their own occupational groups. Compensation consultants: once concern here is that these data may come mostly from their client firms and this do not necessarily comprise a representative sample. Advantages and disadvantages of third-party surveys: advantages: In house- surveys: these can be done formally and informally.
