Compensation Scale is Competitive in Various Companies (Essay Sample)

COMPENSATION PLANNING
NAME
INSTITUTIONAL AFFILIATION
COURSE
COURSE CODE
DATE
Measures to ensure compensation scale is competitive
The US trend in compensation of jobs is well captured by the pay scale index. In compensation planning, the index tracks changes in the private sector who work full time and the size of the companies they work in vis-à-vis their potential for growth. Pay scale serves the purpose of determining the best pay to ensure productivity and to control costs.
Compensations scale should be competitive to attract qualified professionals and retain the personnel that is valuable. To ensure that your compensation is competitive, one measure to take is reviewing your job description for accuracy and compares them to other job postings for the same level or position regarding qualifications and skills required. This keeps you abreast of changes in the market.
The second measure is to analyze if your pay scales are in tune with positions that require similar experience and expertise. This can be done through surveys for salary and wage information that are specific to that industry. The information you get helps in developing a compensation plan for various positions that even an outsider can understand.
Third, the reward should be explained to the employees. To do this, one can prepare an annual benefits summary which provides a list of costs which are incurred by the organization to train, reward, retain and support an individual employee of that organization. By explaining that, employees are reminded that they are not intrinsic to the position itself. It also helps employees in setting goals beyond their base pay.
Salary review of an athletic trainer
To further understand compensation, it is prudent to illustrate with a job title and a sample survey. An athletic trainer is a liaison between medical staff and a patient. They cater to the patient’s needs from arrival to departure. The trainer directly reports to the clinic coordinator in an orthopedic medical environment. Responsibilities include data collection and entry, escorting patients from the lounge to the various examination rooms like the lab or X-ray room. Also, give home exercise protocol to the patient and to organize work areas and time. To adequately manage all specific duties, the employee must possess at least a bachelor’s degree.
The purpose of this salary survey is to collect data to ensure the company is competitive in hiring and retaining personnel for the job of the athletic trainer and also investigates career development of professionals in the field.
TITLE: SALARY SURVEY FOR POSITION OF ATHLETIC TRAINER
1 For how many years have you been working as an athletic trainer?
2 How many years have you worked for your current employer and what is your current position? Kindly explain.