How long does your total rewards or compensation team take to market price a job from the point they receive a complete and accurate job description? I've been conducting research to find a widely used standard to build into a service level agreement with no luck.
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This is a loaded question for teams all the time. I conferred with my comp team, and with a good job description, it should be a 2 hour or less turnaround for a job level and pricing, depending on other priorities and the volume of requests. With that in mind, we would say a good SLA would be 24-48 hours.
What usually happens, though, is that the JD isn’t complete or there are a lot of questions that need to be answered, so that is truly if it’s complete, accurate, and there is nothing but a quick job level/pricing to do.
The SLA takes about 2 -3 week to get feedback on comp determination.
We are a small company (550) and we turn those around within 24-48 hours.
We are able to turn around these requests in 2-3 days at most unless there is a particularly high volume (e.g., re-evaluating or creating many jobs at once).
We have a very small comp team and typically it takes up to 2 days.