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Phase II Aligning the Compensation System with the Market Section 6 Market Analysis and Range Development The Market Analysis and Range Development tab on your Google Sheets document will be used for Section 6. Your group will need to up to 6 positions that will determine the correlation of internal job value to the market. Some principles you will need to consider include: - range of jobs - -there should be one job at both the low end of the jobs hierarchy and the high end (but it doesn't have to be the "highest" or "lowest" job) with the rest from various parts of the "middle". - availability of data -ideally you will be able to find reliable data from similar-sized organizations in the same industry in the same region that is used for recruiting purposes for the job by the organization. In some cases, this might mean national (Canada-wide) data is acceptable, but in others local means locall Remember to check public sources like union agreements that are listed on the BC Labour Relations website, Statistics Canada data, as well as whatever you can find from PayScale or other sources of Canadian data. Once you are satisfied with the external market data, input the job titles, the JE points as provided to you on the Market Analysis Tab and the market data into the space indicated (note the red instructions). Line statistics and the chart will update as you input your data. After you have an acceptable (to you) market line, your next step is to create the salary ranges for all of the jobs covered by the JE plan. There is a course resource available to guide you through this process HRMT 5160 - Q \& A Resource to Support Phase 2-Simulation Assignment docx - Google Docs, and there are instructions embedded in your template as well. - Apply your ranges to your organization by updating your "Salary Budget" tab and calculate the compa-ratio for all of the JE jobs. - Every position in the JE plan MUST be in a salary range. - Discuss any issues (e.g. green- or red-circling) you see in implementing the salary ranges you have developed and include a link to the completed "Salary Budget" tab. Phase II Aligning the Compensation System with the Market Section 6 Market Analysis and Range Development The Market Analysis and Range Development tab on your Google Sheets document will be used for Section 6. Your group will need to up to 6 positions that will determine the correlation of internal job value to the market. Some principles you will need to consider include: - range of jobs - -there should be one job at both the low end of the jobs hierarchy and the high end (but it doesn't have to be the "highest" or "lowest" job) with the rest from various parts of the "middle". - availability of data -ideally you will be able to find reliable data from similar-sized organizations in the same industry in the same region that is used for recruiting purposes for the job by the organization. In some cases, this might mean national (Canada-wide) data is acceptable, but in others local means locall Remember to check public sources like union agreements that are listed on the BC Labour Relations website, Statistics Canada data, as well as whatever you can find from PayScale or other sources of Canadian data. Once you are satisfied with the external market data, input the job titles, the JE points as provided to you on the Market Analysis Tab and the market data into the space indicated (note the red instructions). Line statistics and the chart will update as you input your data. After you have an acceptable (to you) market line, your next step is to create the salary ranges for all of the jobs covered by the JE plan. There is a course resource available to guide you through this process HRMT 5160 - Q \& A Resource to Support Phase 2-Simulation Assignment docx - Google Docs, and there are instructions embedded in your template as well. - Apply your ranges to your organization by updating your "Salary Budget" tab and calculate the compa-ratio for all of the JE jobs. - Every position in the JE plan MUST be in a salary range. - Discuss any issues (e.g. green- or red-circling) you see in implementing the salary ranges you have developed and include a link to the completed "Salary Budget" tab