Compensation Survey

Avinash uchil
 Compensation survey
• Salary Surveys are tools used to
determine the median or average
compensation paid to employees in one or
more jobs.
 Why to conduct
• Developing an adequate and acceptable
pay structures
• Recognizing pay trends in the market
• Defending pay practices in a court of law
 Characteristic
• Reliable wage and salary data
• Timely wage and salary data
• Comprehensive analysis regarding
external competitiveness
• Consistent
• Diagnostic assistance in identifying current
and potential internal equity issues
 Data collection techniques
• Telephone
• Mailed questionnaire
• Online
• Face to face interview
• Agreements
• Conference
 Advantages
• Benchmark jobs vis-à-vis market
• Manage a growing salary budget
• Detailed analysis for unique role
• Analyze key anchor to differentiate your
reward strategy
• Analyze salary structure existing in the
market and analyze what are the best
practices for talent retention
 Disadvantages
• Customer feedback surveys and questionnaires
can sometimes be too scientific and methodical
to capture the humane instincts and traits of
consumers
• Rigorous analysis and interpretation of feedback
and answers provided by customers might not
provide the right kind of insights that businesses
need to better serve customers.
• Costly for the organization
Survey conducted by organization
• Own staff
• Compensation expert
• Third party
 Choosing surveys
• Government survey
• Internet Surveys
• Employer Group Surveys
• Compensation Consultants Surveys
• Geographic region surveys
 Data and analysis
• Job description
• Extract data
• Aging data
• Weighing data
Example of survey
 PAY SCALE 2010
• Infosys • Wipro
 Survey conducting companies
• EHResearch Survey of executive and
administrative assistants
• Birches Group LLC
• Economic Research Institute
• Salary Expert .com
• PayScale.com