As a compensation analysis for an insurance company in Hartford, Connecticut, define the relevant labor market...

As a compensation analysis for an insurance company in Hartford, Connecticut, define the relevant labor market for insurance claims adjusters and for data entry clerks. Please provide support for your answer

Expert Solution

The insurance claims adjuster has less openings and more salary than the data entry position. Thus, we can safely assume that the low skill/salary data entry has more turnover as compared to the insurance claim adjuster.
In a competitive labor market where workers have the option of switching jobs, a firm offering jobs which makes workers unsatisified can lose their workers to other firms and would have to make their package better to be competitive in the business.
A claim adjuster requires more skills including licenses and degrees thus justifying the higher salary.

keosha answered 2 years ago

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