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Frequently Asked Questions

What is a market based pay approach?

Market-based compensation is a method of utilizing market pay data to evaluate an organization's pay levels. Thus, employers can make a position's pay level more or less competitive depending on the organization's compensation philosophy. The compensation philosophy sets a template within which compensation decisions are made.

What is market pricing analysis?

A market price analysis is a current evaluation of the pricing associated with specific products and services in a particular market. Such an analysis is often conducted as part of a larger business analysis and is generally intended to help determine whether a company's pricing strategy is viable.

What is a market potential analysis?

Market potential analysis is a system used by businesses to analyze a potential market with the aim of finding out how viable such a market is with regard to the product that the company has to offer.

What is market pay?

Market pay is intended to reflect the recruitment and retention needs for the specialty or assignment of a particular physician or dentist at an HHS facility.


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