Disadvantages of source of compensation data

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Reference no: EM132969311

All market data is based on the results of compensation surveys. It is not necessary for organizations to conduct their own compensation surveys. It is often useful to compare compensation paid within organizations to compensation surveys every two to three years. Third party surveys can be used to compare the competitiveness of the compensation paid within organizations to those paid in the market. It is from this information that you can determine if you are leading, lagging, or matching the market. The main three "third party" source of compensation data include:

-Government agencies.

-Industry groups.

-Consulting firms.Directions

-Outline the advantages and disadvantages of using each source of compensation data.

Reference no: EM132969311

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