BUS 434 Discussion 1 & 2 And Exercise Responses
Compensation Survey
According to our text, “A 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.” (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? Explain in 200-300 words. Include at least one reference in addition to company websites and the course text. Respond to at least two classmates’ posts.
Respond to David Geren
According to Glassdoor.com (2018) a Human Resources (Generalist) salary runs between $40k and $50k per year, whereas an HR Director’s pay can be between $60k to $100k annually. This salary range was for positions in Honolulu. In comparison, I also looked at the same types of positions in Little Rock Arkansas and Trenton, NJ. There was some fluctuation on the low end but they were surprisingly similar.
Payscale.com (2018) notes the wage growth for jobs in HR have seen a 15.4% increase in pay since 2006. Given that companies have placed a higher value on investing in their employees and keeping the talent they have, Human Resources has become significantly more competitive in the business world.
Employers are seeking HR Generalists that require minimal supervision, knowledge of labor laws both on the local and national levels, information technology skills with platforms such as the MS Office suite of programs and depending on the company, familiarity with their industry.
I found that most companies looking for an HR Generalist would prefer their candidates have between 3 and 5 years of experience in the field with excellent interpersonal and customer service skills. When I was reviewing job announcements I noticed most of the positions had either a mandatory requirement for a degree or X amount of year’s experience in the field or both. Some wanted advanced degrees, but for the most part the minimum was a Bachelor’s Degree. Something else interesting was the amount of postings that were looking for people with HR certifications.
Keep in mind the information I primarily reviewed was for an HR Generalist, there are multiple disciplines within HR and those positions can be advertised separately. Some of the specialty positions are Training and Development, Employee and Labor Relations, Compensation and Benefits etc. These types of positions along with location, scope of leadership and one’s skills can and do influence compensation.
What I took from producing a compensation survey and then looking at different salary ranges and job advertisements was that our text is spot on when it states “Compensation does not have to be viewed as just the largest expense for most organizations. It can also be a competitive advantage” Weathington, 2016, Summary and Resources, para 4). Gathering information about how your competitors conduct their business is a smart practice and allows you to hire the best and keep them on staff.
Human Resources Generalist (2018), retrieved from https://www.glassdoor.com/Job/jobs.htm?suggestCount=0&suggestChosen=true&clickSource=searchBtn&typedKeyword=Human&sc.keyword=Human+Resources+Generalist&locT=C&locId=1140656&jobType (Links to an external site.)Links to an external site.=
The Pay Scale Index, Trends in Compensation (2018), retrieved from https://www.payscale.com/payscale-index/job-categories/human-resources-jobs (Links to an external site.)Links to an external site.
Weathington, B. L. & Weathington, J. G. (2016). Compensation and benefits: Aligning rewards with strategy. Bridgepoint Education, Inc.
Respond to Erica Hawkins
Classmates,
In our previous discussions, I did not focus on salary ranges, so I am glad we are learning about them this week. While I was searching for information about HR manager positions in Michigan, I found that Michigan is below the national average pay on all but two areas of employment (United States Department of Labor, 2018). Although, I wonder how much of that has to do with the cost of living. If the cost of living is less than the national average, then it would make sense that average pay would be less as well. I am not sure of exactly what this survey is supposed to look like, so I will give it my best guess and edit if I need to later.
The HR Manager will likely look at a compensation survey or two in their role. Youssef-Morgan (2015) expounds, “HR and line management have one common goal—to bring capable human assets into the organization who can perform the duties and responsibilities that will keep the organization functional and competitive in the market” (Sec. 1.3). The compensation survey will help the company determine the right salary to offer to attract the right candidates. The job description I created was for a Human Resources Manager. Weathington & Weathington (2016) explain, “A compensation survey is a tool used to determine the typical incentives that are provided to employees across a specific job, industry, geographic region, and so on. Data is collected from multiple employers and is analyzed to develop an understanding of the overall amount of compensation paid” (Sec. 5.3). The below compensation survey considers the compensation for a Human Resources Manager in the city I live and the national average across different sources. I will also list if they specify number of years of experience and education needed according to the sources.
What did you find that was interesting in your search?
Compensation Survey
Human Resources Manager
Bureau of Labor Statistics
Salary.com
O*Net
Indeed
National Average
$106,910
—
106,910*
$69,330
Grand Rapids
$88,880
$97,127
—
$65,363
Experience
5+ years
5 years
—
—
Education
Bachelor’s degree
Bachelor’s degree
Bachelor’s degree, some require Master’s degree
—
*-O*Net lists the Bureau of Labor and statistics as their source for the national average salary
Erica
References
Indeed. (2018). Search and Compare Salaries. https://www.indeed.com/salaries
Onetonline. (2018). Summary Report for Human Resources Managers. Retrieved from https://www.onetonline.org/link/summary/11-3121.00
Salary.com. (2018). Human Resources Manager. Retrieved from https://swz.salary.com/SalaryWizard/Human-Resources-Manager-Salary-Details-GRAND-RAPIDS-MI.aspx
United States Department of Labor. (2018). Bureau of Labor Statistics. https://www.bls.gov/ooh/management/human-resources-managers.htm
Weathington, B. L. & Weathington, J. G. (2016). Compensation and benefits: Aligning rewards with strategy [Electronic version]. Retrieved from https://ashford.content.edu
Youssef-Morgan, C. M. (2015). Human Resource Management, Second Edition. San Diego, CA: Bridgepoint Education, Inc. Retrieved from https://content.ashford.edu/books/AUBUS303.15.1/sections/copyright
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