Compensation Survey Data
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The Ultimate Guide to Compensation Survey Data 2020
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Table of Contents
What is a compensation survey?
A compensation survey is an analytical tool meant to help managers define fair and competitive levels of salary for the employees in their company. The result of a survey yields data on the average and median salary for specific industries and positions, company sizes and regions.
Why a compensation survey is needed?
Salary surveys enable managers and business owners to make informed decisions regarding employment compensation levels. The survey offer industry specific benchmarks from the closest competitors that help understand the labor market.
How is compensation benchmarking done?
Wage or compensation benchmarking is usually done with data from salary surveys and reports. This data offers comparable insights from similar jobs and positions that the managers can use to inform their compensation decisions.
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Popular Compensation Survey Data Use Cases
Find out the most common applications of Compensation Survey Data.Salary Benchmarking