#HRWord:#Pay #Survey

A Pay survey or a Salary survey is typically conducted to gauge the organizationā€™s compensation levels with respect to the external environment.  

Image courtesy: HR Daily Advisor

This helps in clearly defining the specific pay for each job.

Firstly a benchmark job is identified, the pay scale of the organization is positioned, and the relative worth of all the other jobs are established with respect to the benchmark job.

Pay surveys are usually conducted by a structured written Questionnaire. Telephonic surveys, Newspapers, Consultancy Firms, Pay check websites like NaukriPayCheck and Glassdoor.com can be sources of information as well.

Pay/Salary Surveys are analyses of compensation data. This data may include quantifyable aspects of compensation such as:

  1. Base salaries
  2. Increase percentages or amounts
  3. Merit Increases
  4. Salary Ranges
  5. Starting Salary
  6. Incentives/Bonuses
  7. Allowances and Benefits
  8. Working Hours

Salary Surveys may also include non-quantifyable aspects of compensation such as:

  1. Educational Requirements
  2. Geographic Location
  3. Source of Hire (Internal/External)
  4. Working Conditions                                           Below is the List of Global Pay Survey VendorsšŸ‘‡

https://hr-guide.com/data/043.htm

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