Abstract
Companies are using innovative methods to create closer ties between compensation and business needs. This requires compensation professionals to do more than simply slot jobs according to broadbased survey results. As top management seeks to make appropriate business-based compensation decisions, managers are demanding more (and more relevant) compensation information.
There are no blanket answers to or surefire methods for gathering this information, says the author, but companies may learn from the two case studies he presents. The first explains how an insurance company's specialized business unit managed to find and gather specific information from nontraditional peers. The second explains how an information services company used new compensation tools designed to make this information gathering and analysis easier.
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