EB 1 NormaNo Spac. Heading 1 Heading 2Subtile u Paragraph Styles 2. A local oil
ID: 379912 • Letter: E
Question
EB 1 NormaNo Spac. Heading 1 Heading 2Subtile u Paragraph Styles 2. A local oil and gas company in Houston hires the following categories of employees: 1. Petroleum Engineers at all levels (entry level, senior level, middle-management level, etc.). 2. Clerical employees (entry level only). 3. Senior management staff (both internal and external searches are done). The company employs about 3,000 employees in the Houston area. The company is interested in revising its compensation package to be externally competitive. They want to conduct their own market survey of wages and benefits paid by the competitors. Help them identify the relevant labor market, competitors, and the key areas they should focus on in designing the survey. Note that I do not expect an actual survey but the areas they should cover in terms of whom to survey, what to survey, and where to survey.Explanation / Answer
The gas company in Houston needs to revisit its compensation packages to make the pay externally competitive, hence for the same company needs to look at the following parameters.
Relevant Labour Markets/ Competitors - the company would have to look for the situation in the market for the particular employees, for instance, it should check the global oil/gas companies and how they are paying the engineers, for clerks they need to look at the local markets in Houston and how clerks are paid in an engineering company and for senior level management employees they need to see the ongoing global trends of payments and perks and it should try to match accordingly. This would also help company to prevent poachings
To design a survey which would fulfil all the needs the company must thoroughly evaluate the situation and take steps. First, the survey can't be taken directly from the respondents from face to face, this would be inappropriate, hence it should be sourced to the 3rd party websites for job recruitment and networking, such as Glassdoor and linkedIn. here we can find a pool of respondents who could appropriately answer our survey. This survey should not have any personal details, this is irrelevant for the company, but Age could help us find the ongoing trend and average age of the said respondent in a position. There should be contents which should ask respondents about the salary bracket ( helps in finding approximate salary), perks offered if any, working hours, allowances and etc. This would help us to know approximate salary and CTC to the company for that particular employee, this would help us the to get salary details for the petroleum engineers and clerks, the senior manager are less in number in any company as they are top of the pyramid, hence such respondents are hard to find hence the company should consult a reputed recruiting agency to consult about the payment of top guns in the company.
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