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Wage and Benefit Analysis and Surveys

Benefit:

  • Helps attract and retain talented workforce by determining equitable and competitive pay rates to offer internally and externally
  • Results in a fiscally responsible compensation structure which aligns with the organization's compensation philosophy and protects the bottom line
  • May maintain and increase employee satisfaction if wages and benefits are perceived to be fair
  • Helps identify potential sources of employee dissatisfaction if wages and benefits vary widely without a solid basis for differentiation
  • Potential payroll savings if wages are found to be higher than market and need to be adjusted

Who's most likely to benefit:

  • Organizations which have high turnover and/or difficulty recruiting and hiring qualified candidates
  • Organizations which have experienced rapid growth or large shifts in employee numbers and responsibilities due to layoffs, reorganization, mergers/acquisitions or successful growth strategies
  • Organizations moving into a new line of business or industry sector in which wage and benefit expectations may be very different
  • Organizations seeking to drive cultural or organizational change through a link to wages and benefits
    (NOTE: must work in conjunction with other resources, such as strong leadership, employee communication and training)
  • Organizations which have not conducted a wage and benefit analysis or survey in the past 2-3 years

Description:

Are you offering wages and benefits competitive enough in the marketplace to interest top talent? Are you paying long-time employees who haven't improved their skills or abilities more than they should be earning? Could you be fostering resentment in the organization with inconsistent wage and benefit packages? As organizations evolve and grow over time, sometimes the wage and benefits don't evolve and grow as well – which can result in compensation that's out of alignment.

A wage and salary survey is a comprehensive examination of the positions identified as needing evaluation. For each position, our HR advisor reviews criteria including the job description, title, level of experience, education, knowledge, skills and abilities required and preferred, responsibilities carried out within the organization, and current wage and benefit data. Based on that detailed profile of each position, AGH Employer Solutions makes a comparison to similar positions locally, nationally, and within industry sectors. The organization receives a report outlining wage and benefit ranges for each position as well as a brief summary of any recommendations or commentary noting where changes might be considered in the overall wage and benefit structure based on national, local and industry standard practice. If significant or serious issues are identified in the survey, a full compensation structure review and development engagement may be appropriate.