Online Market Price (OMP)
Linking pay to performance
A key factor in employee retention is the organization's perceived commitment to directly linking performance to pay. An important component in building that link is to ensure that all salaries are "at market" so that employees are confident that there are no "greener pastures" to be found. The need to constantly update salary pricing is often overridden by the amount of data and calculations that must be done to update just one job code. That effort multiplied by the many hundreds of job codes results in a monumental task. What is needed is a way to access the very most current salary data and use it to instantly update all job pricings.
MarketPrice addresses this need for up-to-the-minute, accurate and job specific salary pricing by integrating all available salary survey information into a one-screen application that enables compensation professionals to build and update "salary pricing" templates in minutes.