netrashetty
Netra Shetty
Precision Castparts Corp. (NYSE: PCP) is a Portland, Oregon, United States-based Fortune 500 company. The industrial goods and metal fabrication company manufactures cast metal parts for use in the aerospace, industrial, defense, and automobile industries. In 2009 they ranked 362nd on the Fortune 500 list, and 11th in the Aerospace and Defense Industry.[2] On June 1, 2007, PCC replaced MedImmune on the S&P 500 stock index.[3]
State agencies need to be sensitive to burdening other employers with
requests for salary data. Therefore, in areas outside the metropolitan
Richmond area, agencies should coordinate data collection with other agencies
in the local area that have the same type of positions. Also, agencies in the
metropolitan Richmond area should coordinate data collection with DHRM.
Agencies are asked not to contact the central personnel departments in other
States without DHRM’s concurrence.
The following guidelines should be used by agencies in their surveying
efforts. (These are the same guidelines that DHRM follows in conducting
salary surveys):.
• Selecting the jobs to survey: A survey may gather information relating to
an entire Career Group, a Role, or to a specific group(s) of positions within
a Role (e.g., electricians within the Trades Technician II Role). This
decision should be based on the nature of the current or potential staffing
problems that are being addressed. The range of positions used by the
agency or agencies experiencing the staffing problems may also influence
the breadth of the survey.
• Defining the relevant labor market: This step identifies other employers
who compete with the Commonwealth for employees that perform similar
work. The market may vary from a few local employers in a particular
industry to employers in various industries nationwide. The market for jobs
performing duties that are unique to government would be local, state or
5
federal government agencies (e.g., social service, law enforcement and
regulatory jobs).
o Private Industry includes firms in the relevant labor market
(Virginia, the Southeast or Middle-Atlantic regions, or the United
States) that may be selected from the Virginia Employment
Commission’s employer list or from membership lists of human
resource or compensation associations. Salary surveys should always
take into account the salaries paid by private firms for comparable
jobs.
o Government entities, including local, state and federal agencies, may
provide the most relevant comparison to State-level jobs. For a large
number of state jobs, there are no comparable positions in the
private sector. Additionally, the Commonwealth often competes for
the same workers as federal agencies and localities attract.
o States in the Southeastern or Mid-Atlantic region represent the
most relevant labor market for the Commonwealth’s jobs. The
suggested use of data from regional states does not preclude the use
of data from other states, localities, or federal agencies if there is
active competition with them for employees in the job Role under
review. Florida, Georgia, Kentucky, Maryland, North Carolina,
South Carolina, Tennessee and West Virginia are considered in many
compensation studies, for the following reasons:
Ø using the same regional states in all studies provides consistent
results;
Ø salaries paid by these states are comparable to salaries paid in
Virginia;
Ø in national salary surveys of private industry and state
governments, Virginia employers’ are typically grouped with the
Southeastern or Mid-Atlantic region; and
Ø the characteristics of the labor force (e.g., the size of the labor
force, occupational and industrial mix, salary levels, union
membership) in the Southeastern states are similar to those of
Virginia.
• Identifying Competitors: DHRM may ask agencies to assist in
identifying their competitors in the relevant labor markets. Employee exit
6
interviews are valuable sources for identifying competing firms.
Additionally, agency managers and supervisors may maintain professional
contacts with private firms and participate in their professional
organizations that can often provide valuable information.
• Compensation Publications
Survey reports by professionally recognized national compensation
organizations and consulting firms are often used. DHRM participates in a
number of these surveys and receives these reports routinely. A list of these
survey sources is on DHRM’s website.
State agencies need to be sensitive to burdening other employers with
requests for salary data. Therefore, in areas outside the metropolitan
Richmond area, agencies should coordinate data collection with other agencies
in the local area that have the same type of positions. Also, agencies in the
metropolitan Richmond area should coordinate data collection with DHRM.
Agencies are asked not to contact the central personnel departments in other
States without DHRM’s concurrence.
The following guidelines should be used by agencies in their surveying
efforts. (These are the same guidelines that DHRM follows in conducting
salary surveys):.
• Selecting the jobs to survey: A survey may gather information relating to
an entire Career Group, a Role, or to a specific group(s) of positions within
a Role (e.g., electricians within the Trades Technician II Role). This
decision should be based on the nature of the current or potential staffing
problems that are being addressed. The range of positions used by the
agency or agencies experiencing the staffing problems may also influence
the breadth of the survey.
• Defining the relevant labor market: This step identifies other employers
who compete with the Commonwealth for employees that perform similar
work. The market may vary from a few local employers in a particular
industry to employers in various industries nationwide. The market for jobs
performing duties that are unique to government would be local, state or
5
federal government agencies (e.g., social service, law enforcement and
regulatory jobs).
o Private Industry includes firms in the relevant labor market
(Virginia, the Southeast or Middle-Atlantic regions, or the United
States) that may be selected from the Virginia Employment
Commission’s employer list or from membership lists of human
resource or compensation associations. Salary surveys should always
take into account the salaries paid by private firms for comparable
jobs.
o Government entities, including local, state and federal agencies, may
provide the most relevant comparison to State-level jobs. For a large
number of state jobs, there are no comparable positions in the
private sector. Additionally, the Commonwealth often competes for
the same workers as federal agencies and localities attract.
o States in the Southeastern or Mid-Atlantic region represent the
most relevant labor market for the Commonwealth’s jobs. The
suggested use of data from regional states does not preclude the use
of data from other states, localities, or federal agencies if there is
active competition with them for employees in the job Role under
review. Florida, Georgia, Kentucky, Maryland, North Carolina,
South Carolina, Tennessee and West Virginia are considered in many
compensation studies, for the following reasons:
Ø using the same regional states in all studies provides consistent
results;
Ø salaries paid by these states are comparable to salaries paid in
Virginia;
Ø in national salary surveys of private industry and state
governments, Virginia employers’ are typically grouped with the
Southeastern or Mid-Atlantic region; and
Ø the characteristics of the labor force (e.g., the size of the labor
force, occupational and industrial mix, salary levels, union
membership) in the Southeastern states are similar to those of
Virginia.
• Identifying Competitors: DHRM may ask agencies to assist in
identifying their competitors in the relevant labor markets. Employee exit
6
interviews are valuable sources for identifying competing firms.
Additionally, agency managers and supervisors may maintain professional
contacts with private firms and participate in their professional
organizations that can often provide valuable information.
• Compensation Publications
Survey reports by professionally recognized national compensation
organizations and consulting firms are often used. DHRM participates in a
number of these surveys and receives these reports routinely. A list of these
survey sources is on DHRM’s website.
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