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Question: Market Pricing Exercise
Your organization, a major health services provider headquartered in the city of Pittsburgh, has acquired a small, independent laboratory in Sarasota, FL. You have several of the same positions as the new organization, but there are several new positions as well. As a compensation professional, you are charged with evaluating all of the positions in the new organization and integrating them into your salary structure. Using the market pricing roadmap:
1. How would you go about market pricing these positions?
2. Would you be able to defend your work to senior management?
3. Where will you get the information, and what will it tell you?
4. What will you consider in terms of base and incentive compensation?
5. How can you be sure the salary grades you recommend are "fair"?
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