SalarySurveybasedonHayMethodHayPointRangeUpperQuartile(Q3)SalaryFormula200-300144.89*HP-1648301-400165.55*HP-7845401-500195.67*HP-19,893501-600176.16*HP-10,140601-700194.51*HP-21,145701-800168.63*HP-3029InternalequityExternalequityEmployeeequityAdministrationConceptsCompensationTechniquesPlanning,Budgeting,Monitoring,EvaluatingJobAnalysisJobDescriptionJobEvaluationJobGradesMarketDefinitionsSalarySurveysPolicyLinesPayStructuresSeniorityIncreasesPerformanceEvaluationIncreaseGuidelinesCompensationObjectivesRoleclarityandaccountability.Facilitatesadministrationandperformancemanagement.Competitivewagepoliciesandpractices.Influenceemployees’workattitudesandbehaviour.Attracttalents.Retaintalents.Motivateemployees.Complywithregulations.Consistencyinpolicyadministration.TheStrategicCompensationModelCompensationManagement