Compensation Survey: 3 profound things to know

Determine Appropriate Pay-Policy Mix 2. Pay-Policy Level Decisions 3. Compensation Survey

a) Choose competitors based upon industry, size, and union status.

b) Select benchmark jobs for each structure using benchmark job descriptions.

c) Reconcile differences using the benchmark job comparison sheet.

d) Update salary data for inflation using CPI-U.

Compensation Survey: Why do you need it?

4. Implementation of Salary Survey Results a) Report and interpret results of regression analysis for each job. b) Integrate external and internal structures by creating pay grades and ranges. c) Evaluate and summarize decisions made for each job structure.

compensation survey
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