With annual appraisals around the corner, employees are eagerly waiting for their salaries to reflect their wishes. Many might have even planned a thing or two for the additional salary they will be getting. Annual appraisals are one of the most motivating factors for employees. A lot in their personal lives and the course of…
Compensation benchmarking, or salary surveys are exercises conducted to identify levels and boundaries related to pay grades for a set of positions. Ideally a benchmarking exercises should be undertaken keeping a sample of comparable companies in related business or businesses employing similar manpower. Ideally, the business size has to be near similar – but we…
This approach to benchmarking compensation at your workplace can work across business and sectors, industry domains. If undertaken well, and with reasonable thought and effort the benchmark percentiles would be a good guide related to the identified jobs, industry and target companies. They can help in deciding or recommending your teams increments. The approach assumes…