This spreadsheet contains formulas to calculate individual employee compa-ratios, also known as compensation ratios. Where the midpoint of a pay range represents full market pay, the ratio of the employee's actual salary to that midpoint indicates whether he or she is paid below, at or above market rates. This data can then be used to ensure job candidates are being offered competitive rates and can help determine pay increases for current employees as their job competency rises. A graph will automatically be created as data is entered.
An organization run by AI is not a futuristic concept. Such technology is already a part of many workplaces and will continue to shape the labor market and HR. Here's how employers and employees can successfully manage generative AI and other AI-powered systems.
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