Pay Survey Practices - Part II

Slides:

Advertisements

Similar presentations

Introduction to Summary Statistics

Advertisements

Central Tendency Mean – the average value of a data set. Add all the items in a data set then divide by the number of items in the data set.

Introduction to Summary Statistics

1. 2 BIOSTATISTICS TOPIC 5.4 MEASURES OF DISPERSION.

Measures of Central Tendency. Central Tendency “Values that describe the middle, or central, characteristics of a set of data” Terms used to describe.

MGMT Managing Employee Reward Systems Salary Structures Purpose and Goals –establish series of grades to classify jobs according to similar worth.

Descriptive Statistics Chapter 3 Numerical Scales Nominal scale-Uses numbers for identification (student ID numbers) Ordinal scale- Uses numbers for.

B a c kn e x t h o m e Parameters and Statistics statistic A statistic is a descriptive measure computed from a sample of data. parameter A parameter is.

MGMT Managing Employee Reward Systems Individual Pay Determination Creating Equitable Salary Structures.

Measures of Dispersion

Business Math, Eighth Edition Cleaves/Hobbs © 2009 Pearson Education, Inc. Upper Saddle River, NJ All Rights Reserved 7.1 Measures of Central Tendency.

AP Biology Intro to Statistic

Basic Data Analysis: Descriptive Statistics. Types of Statistical Analysis n Descriptive n Inferential: u Test of Differences u Test of Associative u.

MGMT Managing Employee Reward Systems Salary Structures and Pay Grade Dimensions Pay Grade Width –Distance from min. to max. of range –Typical ranges.

Prentice Hall, Inc. © A Human Resource Management Approach STRATEGIC COMPENSATION Prepared by David Oakes Chapter 8 Building Market-Competitive.

Describing Data: Numerical

Describing distributions with numbers

Exploratory Data Analysis. Computing Science, University of Aberdeen2 Introduction Applying data mining (InfoVis as well) techniques requires gaining.

CHAPTER 3 : DESCRIPTIVE STATISTIC : NUMERICAL MEASURES (STATISTICS)

Descriptive Statistics Anwar Ahmad. Central Tendency- Measure of location Measures descriptive of a typical or representative value in a group of observations.

Statistics Recording the results from our studies.

BUS250 Seminar 4. Mean: the arithmetic average of a set of data or sum of the values divided by the number of values. Median: the middle value of a data.

Introduction to Summary Statistics. Statistics The collection, evaluation, and interpretation of data Statistical analysis of measurements can help verify.

Describing Behavior Chapter 4. Data Analysis Two basic types  Descriptive Summarizes and describes the nature and properties of the data  Inferential.

Describing Data Statisticians describe a set of data in two general ways. Statisticians describe a set of data in two general ways. –First, they compute.

Interpreting Performance Data

MATH IN THE FORM OF STATISTICS IS VERY COMMON IN AP BIOLOGY YOU WILL NEED TO BE ABLE TO CALCULATE USING THE FORMULA OR INTERPRET THE MEANING OF THE RESULTS.

Describing distributions with numbers

A tour of fundamental statistics introducing Basic Statistics.

 Two basic types Descriptive  Describes the nature and properties of the data  Helps to organize and summarize information Inferential  Used in testing.

Chapter 9 – The Normal Distribution Math 22 Introductory Statistics.

7.3 Measures of Central Tendency and Dispersion. Mean – the arithmetic average is the sum of all values in the data set divided by the number of values.

Central Tendency Mean – the average value of a data set. Add all the items in a data set then divide by the number of items in the data set.

Descriptive Statistics(Summary and Variability measures)

Welcome to… The Exciting World of Descriptive Statistics in Educational Assessment!

Alt Text to Graphs.

Statistical Methods Michael J. Watts

AP Biology Intro to Statistics

Basic Data Analysis: Descriptive Statistics

Statistical Methods Michael J. Watts

2.5: Numerical Measures of Variability (Spread)

Numerical Descriptive Measures

Univariate Statistics

Introduction to Summary Statistics

Science of Psychology AP Psychology

Chapter 12 Using Descriptive Analysis, Performing

Designing pay levels, mix and pay structures

AP Biology Intro to Statistics

Basic Data Analysis: Descriptive Statistics

Descriptive Statistics: Numerical Methods

Chapter 3: Averages and Variation

Central Tendency Central Tendency – measures of location for a distribution Mode – the commonly occurring number in a data set Median – the middle score.

Statistical Evaluation

MEGN 537 – Probabilistic Biomechanics Ch.3 – Quantifying Uncertainty

12/1/2018 Normal Distributions

STA 291 Spring 2008 Lecture 5 Dustin Lueker.

STA 291 Spring 2008 Lecture 5 Dustin Lueker.

AP Biology Intro to Statistic

Descriptive Statistics: Describing Data

Quartile Measures DCOVA

AP Biology Intro to Statistic

AP Biology Intro to Statistic

Univariate Statistics

Ms. Saint-Paul A.P. Psychology

Myers Chapter 1 (F): Statistics in Psychological Research: Measures of Central Tendency A.P. Psychology.

MBA 510 Lecture 2 Spring 2013 Dr. Tonya Balan 4/20/2019.

Basic Practice of Statistics - 3rd Edition

Business and Economics 7th Edition

Descriptive statistics for groups:

Presentation transcript:

Pay Survey Practices - Part II Measuring Pay Data Distributions: Normal - Bell shaped curve - rarely appropriate Non-Normal - pay data is unevenly distributed; more typical of pay data collected from surveys Measures of Central Tendency used to report Pay Median - the middle value of an ordered sequence of data Mean - sum of data divided by number of observations Unweighted - each company is an observation Weighted - each employee is an observation MGMT 4030 - Managing Employee Reward Systems

Pay Survey Practices - Part II Measures of Variation used to Report Pay Range of Pay Data Minumum, Maximum, Midpoint Quartertile - 1st , 2nd (above midpoint); 3rd, 4th (below ) Standard Deviation - distance of data from mean in a normal distribution. Typical Market positions Lead the market Lag the Market Match the Market MGMT 4030 - Managing Employee Reward Systems

Pay Practices - Part II (Gomez-Mejia & Balkin, 1992) Recommended Pay Survey Practices Relevance Match on Job Descriptions (not Titles) Consistent Use of Same Statistical Measures Keep Pay Data Current Monitor Effectiveness Using HR Benchmarks MGMT 4030 - Managing Employee Reward Systems