One of my clients—an IT company—is looking to conduct a salary analysis to determine if they are paying according to the market rate. They want us to perform this task for them. Is there a specific process that needs to be followed? Can anyone please assist me with this?
From India, Vijayawada
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Conducting a Market Survey
It will be required to conduct a market survey either by the organization or by the experts available in the market. It is also necessary to ascertain from the client the type of organizations (size, nature of business, etc.) they are seeking.
Components of the Survey
This type of survey includes a comparison of cash components, retirement benefits, perks, leave rules, incentives if any, bonuses, variable pay if any, etc.
Comparison at the CTC Level
Comparing at the CTC level while considering similar items is also beneficial.
Regards, S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions [Phone Number Removed For Privacy-Reasons] USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
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367It will be required to conduct a market survey either by the organization or by the experts available in the market. It is also necessary to ascertain from the client the type of organizations (size, nature of business, etc.) they are seeking.
Components of the Survey
This type of survey includes a comparison of cash components, retirement benefits, perks, leave rules, incentives if any, bonuses, variable pay if any, etc.
Comparison at the CTC Level
Comparing at the CTC level while considering similar items is also beneficial.
Regards, S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions [Phone Number Removed For Privacy-Reasons] USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
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