Phase III: Market Data and Merit Program—ungraded, but required draft In this phase, you will collect market data.· Market Data· What is the competition?· What are the local demographics for the immediate area?· What is the job market like for the kinds of skills you will need? How hard or easy will it be to recruit and retain employees?· Find market data on your positions online to assist you in determining a pay grade structure. (see note below)· Establish a pay grade structure and pay grades for each position.· Set up pay grades with a minimum, midpoint, and maximum.· Explain how you set up your pay grades.· Assign pay grades to each position.· Performance Evaluations· Describe your performance evaluation.· Determine which type of performance evaluation you will use for each category of employees.· Design and include the performance appraisal forms that will support your system.· Develop a merit pay grid that supports your performance appraisal process. Explain the linkage from your performance appraisal to your merit system.Note: The website salary com offers a media wage for the geographic area you have designated. These median wages can serve as alternatives to actual survey data.
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