Purpose

Retaining and attracting employees is of primary concern for any company.

The foundation of developing a compensation strategy is Job Pricing — the practice of analyzing pay practices, focused on internal strategy and on a specific market environment.

Market analysis is vital to maintain a competitive position against competitors and similar companies that might try to attract employees away.

Internal analysis is important to make sure one department or line of business is not over-compensated or lagging behind the other groups.

The Job Pricing component allows you to analyze, evaluate and determine the compensation level for specific jobs, based on the current market rate. This enables you to offer competitive compensation packages that attract the best possible pool of applicants, thereby enabling you to hire the best possible employees for your organization.

Collecting and analyzing all this data can be very labor- and time-intensive. The SAP Job Pricing function streamlines the entire process.

Integration

To use this component, you must install: