Compensation Management And Wage Survey

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At any point in time every company might have several concerns related to compensation management. Legitimate questions at the company level with this regards are: How do our wages generally compare with other companies? Is our overall compensation budget appropriate? When it comes to individual employees, the question is whether the wage of a particular employee compare with others doing similar work in companies with whom we compete for staff.

For already years TBSC Consulting offers a comprehensive toolkit to address these paramount questions which keep HR managers wake at night. Our Wage and Benefit Surveys provide a solid starting point and foundation to contently solve the compensation issues both at company and employee levels.

Our methodology envisions collecting individual wages from companies across many industries. We evaluate the contents of the positions in terms of major requirements and rate them to make positions highly comparable across companies. Then we develop statistical distributions, which perfectly reflect the compensation market situation for various functions and positions. Wage And Benefit Survey report provides statistical distributions at the level of individual positions, organizational levels and functional areas, which enables us to look at the market rates from various angles.

The final block of our Compensation Management service is to analyze the compensation policy of our Client company vis-à-vis the market conditions. We prioritize the positions according to their criticality to the company and then apply various market benchmarks to each of them.

Our service makes the management of the compensation policy more aligned to the objectives of optimization of the compensation budget and minimization of employee turnover. Complementing the decisions with the information about prevailing non-cash benefit practices on the market considerably contribute to these goals.