PART I: Pay Compression

You just learned how to evaluate pay compression by computing compa$-$ratios and comparing them with employee tenure. Now, it$$s time to apply your new skills to a new data set, which appears in the sheet called $$Practice$$ in the Excel workbook.

Imagine that you$$re working at a different company but are still focusing on the job of a Customer Service Representative. There are $108$ customer service representatives, and the pay range$/$grade midpoint for the job is $$46,500.$

Respond to the following questions:

$1.$ Calculate the compa$-$ratio for each individual customer service representative. What is the highest and lowest compa$-$ratio that you observed?

$2.$ Calculate the overall average compa$-$ratio across all customer service representatives. What is it$?$ Is the company compensating people noticeably below or above the pay range$/$grade midpoint $($on average$)?$

$3.$ Create a scatterplot with the tenure and compa$-$ratio variables. Is there evidence of pay compression or inversion? How do you know? What is the correlation between tenure and compa$-$ratio variable? What does it imply?

PART II: Employees$$ Satisfaction with Benefits

You just learned how to evaluate employee perceptions of benefits offerings using simple linear regression and independent$-$samples t test. Now, imagine that you work for a different organization that has administered a similar survey to employees. Using data found in the $$Practice $($Past $2)$ sheet of the Excel workbook, do and respond to the following:

$4.$ Run a simple linear regression analysis in which you specify overall benefits satisfaction as the predictor variable and turnover intentions as the outcome variable. What did you find?

$5.$ Run an independent$-$samples t test in which you compare the means of overall benefits satisfaction for those employees who attended a benefits information session with those who did not. What did you find?

$6.$ Based on these analyses, what is your overall impression of the organization$$s current benefits offerings and employees$$ perceptions of them?