WORLD AT WORK: LATEST
C17-MARKET
PRICING
Data integrity components - ANSWERS-1. Submissions
2. Data accuracy
3. Survey Vendor Auditing
How accurate are submissions? - ANSWERS-1. Survey vendor
reputation
2. Which organizations participate
3. Clear and concise instructions
4. How long do vendors gather data
How accurate is data? - ANSWERS-1. How many participants
2. What are survey scope factors
3. How close is match in survey?
4. What is age of data
Survey Vendor Auditing - ANSWERS-1. Outliers
2. Incomplete survey submission
END OF
PAGE
1
, WORLD AT WORK: LATEST
C17-MARKET
PRICING
3. Odd data points
4. Trends
5. Correlations
Benefits to participating in surveys - ANSWERS-1. Discount to
purchase price
2. Enhance survey value (listing of participants)
3. Provides easier job matching
Data requested - ANSWERS-1. Job/incumbent information
2. Organization information
Job matching - ANSWERS-matching organization jobs to those within
surveys
Aging data - ANSWERS-practice of increasing market survey data by a
percentage assumed to be representative of wage movement to bring
data to consistent point in time. Also known as "advancing" or
"trending"
END OF
PAGE
2
, WORLD AT WORK: LATEST
C17-MARKET
PRICING
Considerations in aging data - ANSWERS-1. Different rates
2. Market research
3. Aging factor
4. Salary increase movements
5. Aging over 2 calendar years
6. Lead or lag approach
Blending - ANSWERS-using market rate for 2 or more jobs from a
single survey to establish market rate for hybrid job
Add premium - ANSWERS-adding additional amount based on scope of
responsibilities and importance in the organization
Weighing market data - ANSWERS-using multiple survey sources for
same job; creates market rate composite
END OF
PAGE
3
C17-MARKET
PRICING
Data integrity components - ANSWERS-1. Submissions
2. Data accuracy
3. Survey Vendor Auditing
How accurate are submissions? - ANSWERS-1. Survey vendor
reputation
2. Which organizations participate
3. Clear and concise instructions
4. How long do vendors gather data
How accurate is data? - ANSWERS-1. How many participants
2. What are survey scope factors
3. How close is match in survey?
4. What is age of data
Survey Vendor Auditing - ANSWERS-1. Outliers
2. Incomplete survey submission
END OF
PAGE
1
, WORLD AT WORK: LATEST
C17-MARKET
PRICING
3. Odd data points
4. Trends
5. Correlations
Benefits to participating in surveys - ANSWERS-1. Discount to
purchase price
2. Enhance survey value (listing of participants)
3. Provides easier job matching
Data requested - ANSWERS-1. Job/incumbent information
2. Organization information
Job matching - ANSWERS-matching organization jobs to those within
surveys
Aging data - ANSWERS-practice of increasing market survey data by a
percentage assumed to be representative of wage movement to bring
data to consistent point in time. Also known as "advancing" or
"trending"
END OF
PAGE
2
, WORLD AT WORK: LATEST
C17-MARKET
PRICING
Considerations in aging data - ANSWERS-1. Different rates
2. Market research
3. Aging factor
4. Salary increase movements
5. Aging over 2 calendar years
6. Lead or lag approach
Blending - ANSWERS-using market rate for 2 or more jobs from a
single survey to establish market rate for hybrid job
Add premium - ANSWERS-adding additional amount based on scope of
responsibilities and importance in the organization
Weighing market data - ANSWERS-using multiple survey sources for
same job; creates market rate composite
END OF
PAGE
3
