A Computer Consulting Company Wants to Determine the Market Rate

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Examlex · Accepted Answer

The Answer is The company should first determine key or benchmark jobs that are representative of all the jobs under consideration.At this point it should be decided whether the organization should purchase data,hire consultants to conduct the wage survey,rely on surveys in the public domain,or conduct its own survey.There are relevant advantages and disadvantages to each of these methods.The advantages of buying a wage survey include lower costs,immediate availability of data,and avoidance of tying up staff time in conducting the survey.The disadvantages are that the data may be out-dated and possibly inadequate.On the other hand,the advantage to conducting your own survey is that employers are free to choose the appropriate jobs,the relevant geographic market,and the competitors.The advantage in accuracy and relevance of a tailor made survey should be weighed against the costs and time involved.

A Computer Consulting Company Wants to Determine the Market Rate

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