Question

Research the salary ranges of any three positions that interest you. Then, pretend that you need to recruit workers for each of those positions. How would you use the salary survey data to arrive at specific compensation offers at, above, or below market rate?

Be complete in your response.

Answer 1

answer-

salary is one of the important factor which helps us to make recruitment decisions. salary range is expected pay which employers want to pay for the performance or position of the employees in the organization.According to me, salary range differs from company to company but i would want to discuss three salary range for three of my favorite positions which are-

The first position is revenue analyst which according to payscale site, The average pay for a Revenue Analyst is $21.65 per hour. The average pay for a Revenue Analyst is $55,380 per year.

the second position which i want to disclose is finance executive which has from $213,191 to $301,448 with the average base salary of $253,149. based on 1salary.com site.

the third position would be accountant. In 2017, the lowest-paid accountants earned an average annual salary of $43,020, while the highest-paid made $122,220. researched from usnews.com site.

Now the decision on me to recruit and pay these positions but for that i would use this data also other factors like urgency, competition in the market to make compensation for these position. my decision would be in favor of paying at market rate if my company need these employees in less time because we have vacant position my company and management needs the function of these employees.

on the other side, we my competition is not trying to poach or steal these employees and has less demand in market for these position then my instinct would be to hire these position at low cost which we as well as these three employees would agree on to work in our company.