Compensation & Market Analysis
Competitive compensation practices are essential to employee recruitment and retention efforts. Our Compensation and Market Analysis Study will provide your business with the tools needed to implement competitive and fair pay practices.
What is Employment Compensation Analysis?
Compensation and market analyses use internal and external data to determine if an employer compensates employees fairly for the work they’re doing.
When doing an employment compensation analysis, we look at several items:
We look at how your company compares to external companies or competitors – are you paying more, less, or relatively the same.
This is a comparison of positions within your organization. Employers must pay their employees fairly compared to coworkers and appropriately for the level and type of work done.
Data collection is only one part of the process. HRM helps employers develop a pay structure using the data to define job families/levels, corresponding wage bands and a process for moving employees through the steps.
Get in touch to learn more about our employment compensation analysis services today.
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It normally takes years of training to build a great HR department. With our help, you can have a reliable source for all your HR needs, and concentrate instead on what your business does best.