Identify some of the major reasons for conducting survey Identify some of the major reasons for conducting survey. How will you prepare yourself while conducting Compensation survey?

SURVEYING MARKET PAY AND COMPENSATION PRACTICES By Arvind Shrouti

Learning Objectives The major problems that restrict the gathering & analysis of Pay survey data. The importance of conducting pay surveys. Preparing to conduct survey Various kinds of survey methods Designing a survey Analyzing survey data

Critical Pay Survey Problems Obtaining Proper job match Collecting useful data Ensuring an acceptable sample of organizations & jobs Relating data to Organizational Pay Policies Integrating market pay data with internally generated job worth data and pay structure design data. Recognizing the goals of pay survey data designers and implementers. Analyzing & making inferences from collected pay data.

Why Conduct a Survey ? Hiring & Retaining Competent Employees Promoting Worker Productivity Developing an Adequate & Acceptable Pay Structure Recognizing Pay Trends in the Market Defending Pay Practices in a Court of Law

Scope of The Survey Do the problem areas exist only within certain functions or work units. Bargainable or Non-Bargainable Middle management, Particular professional Jobs or certain clerical jobs. In short define the scope carefully with all considerations.

Preparing For The Survey Development, Implementation and Analysis Classification of Job or Occupation Pay Structure Identification of the Labour market Influence of Competing Organizations Selection of Respondents Cooperation of Respondents Kinds of data to be collected Maintenance of Confidentiality Compliance with legislative mandates

Data Collection Techniques Telephone Mailed Questionnaire Online Face to Face Interview Conference Agreements

Identifying the Survey Methods Job matching Class Matching Occupational Survey method Job Evaluation Method Broad Classification Method

Analysis & Findings of the Compensation Survey Measuring Statistics Major Findings & Interpretations

Question Identify the major reasons for conducting a compensation survey & Explain the various stages involved in the Compensation.

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