What is salary survey in SAP PA-CM - Compensation Management?

SAP Term: salary survey

• Component: PA-CM

• Component Name: Compensation Management

• Description: Salary market data for similar jobs that is collected by survey providers. The data is typically used to compare salary with other enterprises.

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• Key Concepts: 
  A salary survey is a tool used in SAP's Compensation Management (PA-CM) component to compare the salaries of employees within an organization. It allows employers to compare the salaries of their employees to those of similar positions in other organizations. This helps employers ensure that their employees are being paid fairly and competitively. 
  
  How to use it: 
  To use the salary survey tool, employers must first enter the relevant data into the system. This includes information about the employee's position, experience, and qualifications. Once this data is entered, the system will generate a report that compares the employee's salary to those of similar positions in other organizations. 
  
  Tips & Tricks: 
  When using the salary survey tool, it is important to ensure that all relevant data is entered accurately. This will ensure that the results are as accurate as possible. Additionally, employers should consider using multiple sources when conducting a salary survey to get a more comprehensive view of the market. 
  
  Related Information: 
  The salary survey tool is just one of many features available in SAP's Compensation Management (PA-CM) component. Other features include job evaluation, performance management, and compensation planning. Employers should consider using all of these features together to ensure that their employees are being paid fairly and competitively.