Glossary

ERI Economic Research Institute is pleased to provide an expanded and updated glossary of commonly used compensation terms and formulas for your ongoing reference.

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Slotting

The process of placing a nonbenchmark job (for which there are no comparisons to the market) into a hierarchy in approximately ranked order. The slotted job is inserted between benchmarked jobs of clearly greater and lesser value in order to place the non-benchmarked job into an appropriate relative position in a pay grade system. This process entails the comparison of one job of unknown external market or internal equity value to others that already exist in the hierarchy of jobs. For example, if you are unable to benchmark Job B, but know that it should fall almost exactly between Job A in Grade 10 and Job C in Grade 12, then usually it would be slotted into Grade 11.

Slope
Small Business Job Protection Act (SBJPA)

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Common Compensation Terms and Formulas

  • Includes the latest updates: Compensable factors, defined benefit plan, job leveling, lead differential, shift differential and more.
  • Salary structure formulas and strategies
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