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

salary survey provider - Overview

• Component: PA-CM

• Component Name: Compensation Management

• Description: Salary survey providers are enterprises that collect compensation data from various organizations, analyze this compensation data, and provide a summary back to survey participants.

salary survey provider - Details

• 
  Key Concepts: 
  A salary survey provider is a third-party organization that provides salary data to SAP’s Compensation Management (PA-CM) component. This data is used to help organizations determine the appropriate salaries for their employees. The salary survey provider collects and analyzes salary data from a variety of sources, such as job postings, surveys, and industry reports. 
  
  How to use it: 
  Organizations can use the salary survey provider to compare their current salaries to those of other organizations in their industry. This helps them ensure that they are offering competitive salaries and staying up-to-date with industry trends. The salary survey provider also provides detailed reports on salary trends, which can be used to inform decisions about future salary adjustments. 
  
  Tips & Tricks: 
  When using the salary survey provider, it is important to remember that the data provided is only as accurate as the sources it is based on. It is also important to remember that the data provided may not be applicable to all organizations, as different industries may have different salary trends. 
  
  Related Information: 
  The SAP Compensation Management (PA-CM) component also includes other features such as job evaluation, performance management, and bonus calculation. These features can be used in conjunction with the salary survey provider to ensure that organizations are offering competitive salaries and staying up-to-date with industry trends.