Answer to Question #348747 in Management for Sandy

Question

Umtata University is a reputable world-class university with 6000 students enrolled in the school of accounting in each semester. However, the school is experiencing a turnover of chartered accountant lecturers who feel that they deserve a better pay rate as compared to their counterparts working in the private sector. This is affecting the tuition for students and the reputation of the organisation. 

Briefly discuss the process which can be used to assist the HR practitioner of Umtata University to determine the compensation system to retain the lecturers