An effective salary survey simplifies a company's human resource management. By comparing a company's salary structure to its current market, the business can be sure it is not under- or over-paying its employees. This information is instrumental in both hiring and retention of your employees, a key challenge area in India’s IT industry. The internal equity of the company's jobs is clarified when their external parity is measured. Timely surveys keep the organization's salary structure up-to-date and competitive, and help your company sustained advantage.
This data is vital to making salary administration decisions. Surveying the market, and understanding candidate aspirations can also help establish the relationship of positions (internal equity) within an organization. Once a survey is completed, the company can decide the degree to which salary levels should be adjusted; or whether they should be adjusted at all.
Technology job markets change too quickly to allow too much time to pass between compensation reviews. If the company waits too long to compare itself to its relevant job markets, it may require too much money to "catch up" to the market and worse can lose its valuable employees. The organization’s expenditures should keep pace with the job market. As a general rule, today a year should not pass without a thorough salary survey. Regular surveys will provide the data needed by the organization to keep its salary structure current and therefore, competitive. Human resources in IT industry are any organization's greatest expense today. Consistently comparing the company's salary structure to its labor markets is an effective strategy; ensuring limited resources are appropriately applied to recruiting and retaining worker talent.
We offer consulting in the following areas
- Job Analysis and evaluation
- Job Descriptions
- Market Research
- Job Pricing
- Pay Ranges / Structures
- Compensation Policies and manuals
- Compensation & Benefits Comparisons
We have developed and conducted a variety of salary & benefit surveys. Our surveys have included small and large IT companies. We have also conducted city-based, regional surveys as well as national wage surveys.
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