BBCM4103: Compensation Management Essay, OUM, Malaysia Salary Market Surveys are tools used to determine the median or average compensation paid to employees

University Open University Malaysia (OUM)
Subject BBCM4103: Compensation Management

Part I

PURPOSE

Salary Market Surveys are tools used to determine the median or average compensation paid to employees. Compensation data, collected from several employers, is analyzed to develop an understanding of the amount of compensation paid.

The purpose of this assignment is to enhance learners’ ability to explain what Salary Market Surveys are all about and evaluate how they are used to retain employees.

REQUIREMENT

Select your organization or an organization that you are familiar with. Explain how Salary Market Surveys are used to retain employees. Suggest ways to innovate the current types of Salary Market Surveys used for the selected organization.

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Part II 

ONLINE CLASS PARTICIPATION

Discuss the following topics in the forum and submit proof of your participation in the online discussions:

Provide your answer and view on the following topic of discussion.

a. ‘Compensation Legislation – What You Need to Know as an Employee? You have been asked to speak about this topic to your staff. Write down the important points about this topic.
b. Explain with examples, a few employee bonuses and awards that you know which can be further improved.

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