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MemberNovember 21, 2020 at 11:24 AM
Thanks for your reply . Perhaps I also don’t find any model and this opens the opportunity to anyone who can made a system like CHRMP did for evaluating the effectiveness of training interventions. However, as you mentioned that external equities can be a tool to measure the compensation what you are offering, but perhaps these are not fully translate how to achieve optimum balance when you also strive for reducing compensation turnover. For example, government regulations they usually talk about minimum wage standard not the maximum so you can have the mid point, competition and Industry on other side often moves in the same direction to minimize the expenses thus treating the employee as a cost center .
Based on historical data of compensation perks and benefits within industries , a model can be developed based upon the accuracy of data , any other tool may be to check tax amount deducted within the industry at same grade as Tax authorities are now mostly automated .
If you ask me to give the rough idea I think low compensation theory shall always prevail in capitalist societies. The balance is desirable but not achievable.