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The Market Pricing sub-tab in Survey Management includes three Market Comparison Tools to identify and fix problems with structures:
•Compression Check
•Peer Analysis
•Variance from Market
To Check for Compression
1.In Survey Management, navigate to the Market Pricing sub-tab.
2.Click Comparison Tools to open the Market Comparison Tools dialog.
3.Click on the Compression Check tab.
4.Enter a percentage value in the Compression Threshold field.
5.Review the records displayed.
6.To adjust the employee's salary, click Adjust in the Adjust Job column for the selected Internal Job Title. In the Compensation Adjustments - Job dialog, make any of these adustments:
•To add a survey match and adjust the Market Rate, click Add Survey Match and follow the directions under To Select a Survey Match.
•To adjust the Actual Salary for the job, click Edit Internal Job in the Individual Job - Market Price dialog and follow the directions under To Select a Matching ERI Job.
7.To adjust the supervisor's salary, click Adjust in the Adjust Supervisor column for the selected Internal Job Title. In the Compensation Adjustments - Supervisor dialog, make any of these adustments:
•To add a survey match and adjust the Market Rate, click Add Survey Match and follow the directions under To Select a Survey Match.
•To adjust the Actual Salary for the job, click Edit Internal Job in the Individual Job - Market Price dialog and follow the directions under To Select a Matching ERI Job.
8.When your adjustments are successful, the adjusted employee or supervisor will be removed from the table and the following message will be displayed: "Adjustment successfully met desired compression threshold."
9.Click OK.
Note: There must be Market Pricing values for the both the employee and the supervisor to display records.
To Check for Variance from Peers
1.In Survey Management, navigate to the Market Pricing sub-tab.
2.Click Comparison Tools to open the Market Comparison Tools dialog.
3.Click on the Peer Analysis tab.
4.Enter a percentage value in the Show if difference is over field.
5.Review the records displayed.
6.To add a survey match and/or adjust the Market Rate, click Adjust in the Adjust Market Rate column for the selected Internal Job Title. In the Compensation Adjustments - Job Family dialog, click Add Survey Match and follow the directions under To Select a Survey Match OR adjust the average selected for My Market Rate.
7.To adjust the job's salary, return to the Employee List, click Edit for one or more employees with the selected Job Title, and adjust the Current Base salary under the Employee Compensation tab.
8.When your adjustments are successful, the adjusted Internal Job Title will be removed from the table and the following message will be displayed: "Adjustment successfully met desired variance goal."
9.Click OK.
To Check for Variance from Market
1.In Survey Management, navigate to the Market Pricing sub-tab.
2.Click Comparison Tools to open the Market Comparison Tools dialog.
3.Click on the Variance from Market tab.
4.Enter a percentage value in the Show if difference is over field.
5.Review the records displayed.
6.To add a survey match and adjust the Market Rate, click Adjust in the Adjust Market Rate column for the selected Internal Job Title. In the Compensation Adjustments - Job dialog, click Add Survey Match and follow the directions under To Select a Survey Match.
7.To view and adjust salaries for individual employees, click View Employees in the Adjust Employees column for the selected Internal Job Title. Adjust one or more employee's salaries by modifying the Current Base Salary (the employee's current annual salary or hourly rate). Click OK to return to the Market Comparison Tools dialog.
8.When your adjustments are successful, the adjusted Internal Job Title will be removed from the table and the following message will be displayed: "Adjustment successfully met desired variance goal."
9.Click OK.
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