According to our text, â€œA compensation survey is a tool used to determine the typical incentives that are provided to employees across a specific job, industry, geographic regions, etc. Data is collected from multiple employers and is analyzed to develop an understanding of the overall amount of compensation paid.â€ (Weathington, 2016, section 5.3, para. 1).
Guided Response: Create a compensation survey for the job description you created in week 2. What did you learn about the salary range, competitive market, skills, experience, and occupational field?
Job Description was Health Care Administration
Reflect on what you have learned about the different generations in the workplace (Chapter 6). How is the modern workforce different from that of the past? What should employers consider about compensation and benefits for successful recruitment of talented Gen Xers and millennials? What do millennials need to consider to get the compensation and benefits package they want?
Guided Response: Use at least two sources in addition to the course text.
Here is the book:
Weathington, B. L. & Weathington, J. G. (2016).Compensation and benefits: Aligning rewards with strategy