Hi Gurus, I need some urgent help with this issue. I was asked to make a Salary Benchmark based on a salary survey that I received, but it only has the grades' codes (e.g., Z1 to Z25) without any job titles to start with. I need to benchmark and then set my hot jobs somewhere on the scale. Could anyone tell me if there is another way to conduct such a benchmark?
Survey Details
The survey includes:
1) Grades' Codes (which are different from the grading system we use internally).
2) Salary, salaries, and benefits mapped to each grade.
Thank you
From United Arab Emirates,
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Survey Details
The survey includes:
1) Grades' Codes (which are different from the grading system we use internally).
2) Salary, salaries, and benefits mapped to each grade.
Thank you
From United Arab Emirates,
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Understanding International Compensation Benchmarking
Benchmarking with data prepared by others, especially multinational firms like Korn Ferry HayGroup, Towers Watson, etc., can be confusing if your knowledge of international compensation matters is limited. You will need the assistance of compensation consultants (like us) to effectively use the data you have.
I have been working with various market compensation survey data prepared by HayGroup, Towers Watson, Mercer, and others. The following points are crucial to remember:
1. The job grading they use is based on their Job Evaluation (JE) concept. You need to understand their system and evaluate your own jobs according to their JE system. Without this, your benchmarking will not be accurate.
2. The job grades have specific point score ranges. These point score ranges are the basis for the benchmark (or match) between the positions in your company and those of the survey participants. Although the actual positions or job titles are not mentioned, sample positions for each job grade are usually provided in the introductory pages of the survey report.
3. The amounts given per job grade are expressed in rate ranges. They should be used in the same manner.
4. The following activities must be performed before any benchmarking can be done:
a) Conduct job analysis
b) Conduct position clarification/validation interviews
c) Assess and evaluate each position/job title
d) Group and classify the jobs
I can help you benchmark your company's job/position titles with the market data/survey report you have. I can even assist your company in designing a new salary structure that complies with the four compensation principles: Internal Equity, External Competitiveness, Affordability, and Sustainability. However, I charge fees, and you can save if you have the following data:
a) Good job description (including job content, job context, and job requirements)
b) Latest payroll data or current rates per position (actual)
c) Survey data
Call me or send me an email if interested. I can work and transmit outputs via the internet. This is what I do for my business partner in the Middle East.
Best regards.
From Philippines, Parañaque
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95Benchmarking with data prepared by others, especially multinational firms like Korn Ferry HayGroup, Towers Watson, etc., can be confusing if your knowledge of international compensation matters is limited. You will need the assistance of compensation consultants (like us) to effectively use the data you have.
I have been working with various market compensation survey data prepared by HayGroup, Towers Watson, Mercer, and others. The following points are crucial to remember:
1. The job grading they use is based on their Job Evaluation (JE) concept. You need to understand their system and evaluate your own jobs according to their JE system. Without this, your benchmarking will not be accurate.
2. The job grades have specific point score ranges. These point score ranges are the basis for the benchmark (or match) between the positions in your company and those of the survey participants. Although the actual positions or job titles are not mentioned, sample positions for each job grade are usually provided in the introductory pages of the survey report.
3. The amounts given per job grade are expressed in rate ranges. They should be used in the same manner.
4. The following activities must be performed before any benchmarking can be done:
a) Conduct job analysis
b) Conduct position clarification/validation interviews
c) Assess and evaluate each position/job title
d) Group and classify the jobs
I can help you benchmark your company's job/position titles with the market data/survey report you have. I can even assist your company in designing a new salary structure that complies with the four compensation principles: Internal Equity, External Competitiveness, Affordability, and Sustainability. However, I charge fees, and you can save if you have the following data:
a) Good job description (including job content, job context, and job requirements)
b) Latest payroll data or current rates per position (actual)
c) Survey data
Call me or send me an email if interested. I can work and transmit outputs via the internet. This is what I do for my business partner in the Middle East.
Best regards.
From Philippines, Parañaque
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Compensation Benchmarking Survey.doc
Salary & Compensation Guidelines.zip
JOB COMPENSATION.pp t