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What Is the Six Sigma Approach, and How Does It

question 14

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What is the Six Sigma approach, and how does it related to clarifying roles and objectives?


Definitions:

Pay Grade

A defined level within an organization's pay structure that determines the amount of compensation an employee receives.

Matching the Market

A compensation strategy where an organization ensures its pay levels for employees are competitive with those offered by other employers in the same industry.

Market Average

A measure or calculation that reflects the typical price or performance of selected stocks, goods, or services in a market.

Broadbanding

A pay structure that consolidates a large number of pay grades into fewer, wider bands, allowing for more flexibility in employee movement and pay adjustments.

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