Abstract

Although many types of rewards are to be found in work, salaries and benefits remain primary concerns. Thus the compensation policy of the employer is of great importance to the employee. Described here are current salary administration approaches and practices, i.e., market pricing and internal equity systems. Also explained are components of wage and salary plans, including job evaluation, labor market surveys, and job pricing. A detailed discussion of methods of job evaluation--qualitative and quantitative--is presented. The paper concludes by reporting figures from a recent salary survey of four hospitals in the Chicago area.

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