How To Define A Labor Market
The ultimate goal of PGN HR’s market study is to know the external competitiveness of each job within a defined labor market, not against the universe.
Let the magnitude of disruptive change be the inspiration not the driver. - Elena Mason
The ultimate goal of PGN HR’s market study is to know the external competitiveness of each job within a defined labor market, not against the universe.
PGN HR uses predictive analytics for compensation study. Specifically, linear algebra, geometrically progressive matrix and statistical test.
With best practices in mind, we endeavor for pay structure designs that are 100% synonymous to the market midpoint. This is an admirable maxim, but one difficult to observe.
For purposeful recovery to happen, the back-to-work strategies need to be done in waves with two-week interval rotations.
A compensation philosophy is one of the most powerful statements an organization can have. It dictates the strategy for how salaries are to be administered and governed.
Because of the state’s decision to change the threshold for FLSA, many employers (including our clients) will be forced to either raise employee salaries to maintain exemptions for overtime pay or reclassify employees as non-exempt and pay overtime, offer paid sick leave and of course meal breaks.