To conduct a compensation survey, a job evaluator must:
A) hire a consulting firm to do the actual survey
B) define the relevant labor market
C) create a totally objective survey
D) ignore geographic boundaries in order to accurately benchmark all jobs
E) do all of the above

Question

Quizplus · Accepted Answer

Defining the relevant labor market is essential in order to ensure that the compensation survey reflects the appropriate salary and benefit levels for the jobs being analyzed. While all of the choices may be helpful in conducting a compensation survey, only B is necessary. A consulting firm may be useful in providing expertise and guidance, but it is not required. Creating an objective survey is important, but it may be difficult to achieve total objectivity. Ignoring geographic boundaries is not recommended since different regions may have different market rates for the same job.

To Conduct a Compensation Survey, a Job Evaluator Must