Salary surveys have become a common, useful tool implemented by employers to determine the level of wages that will attract employees, while also planning a strategy for compensation for the entire workplace (BNA HR & Payroll Resource Center, N/A). There are several reasons as to why employers use salary surveys; one of the main reasons salary surveys are conducted is to ultimately determine if the current salary rates being used are sufficient enough to attract and maintain workers. By understanding what the rate of pay is based on market data, a company can decide if they want to pay the same, decrease, or even increase the rate; the company's decision will, however, impact the employee. The employee might continue to work for the company, but in some cases, if the company decides to decrease the pay rate below what the market data states, they will begin to feel used and leave the company. Another reason salary surveys are used is to help determine if employers are paying equally for jobs of equal worth, as well as paying a sufficient amount for different types of jobs (BNA HR & Payroll Resource Center, N/A). Another great reason for employers to conduct salary surveys is to justify their decisions about pay rates when faced with lawsuits (BNA HR & Payroll Resource Center, N/A). Employees are able to challenge a company if it does not have a justified reason as to why they pay certain employees certain amounts. All of these reasons for conducting a salary survey provide great benefits for the company; they are able to maintain salary rates based on market data, while also obtaining justification if future problems with employees ever arise. Another benefit that comes from salary surveys is the fact that most are moderately ine...
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...yer should be very careful when researching, and he or she should also understand the rules and guidelines that apply if one is conducted by the company.
BNA HR & Payroll Resource Center. (N/A). Using salary surveys. Retrieved October 5, 2011, from BNA: http://0-hr.bna.com.olinkserver.franklin.edu/hrrc/2126/split_display.adp?fedfid=1260683&vname=cbgrefcomp&wsn=500996000&searchid=15548777&doctypeid=4&type=score&mode=doc&split=0&scm=2126&pg=0
Bramlet, C. (2011). Salary survey 2011: Along for the bumpy ride. Claims , 59 (10), 22-27.
Bureau of Labor Statistics. (2008, July 2). National compensation survey: Data collection. Retrieved October 5, 2011, from US Department of Labor: http://www.bls.gov/ncs/collection.htm
Economic Research Insitute. (2011). Salary survey software. Retrieved October 5, 2011, from ERI: http://www.erieri.com/index.cfm?FuseAction=ERISA.Main
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When employees were asked, what factors could be changed at USAA to help maintain employee motivation levels, a couple of them answered with, “higher wages” and “more money”. This response corroborates other studies regarding pay which state surveys will more likely under emphasize the importance of pay relative to other motivational factors. (Rynes, Gerhart & Minette, 2004). “Financial incentives had by far the largest effect on productivity of all interventions. For example, pay was four times more effective than interventions designed to make work more interesting.” (Rynes, 2004). One reason for this phenomenon is social desirable responding. It should be noted, that although pay may be under reported, the results indicate other factors are also important for employee
Sklar, H., Laryssa, M., & Wefald, S. (2001). Raise the floor: Wages and policies that work for all
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The Gender Wage Gap Differs by Occupation." www.americanprogress.org - www.americanprogress.org. Center for American Progress, 9 Apr. 2013. The. Web. The Web.
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Despite government regulations to promote equality within the workplace, women’s salaries continue to lag behind males in similar career with similar experiences. According to research performed by Blau & Kahn (2007) “women salaries averaged about 60% of men’s until the 1970s and rose to nearly 80% by the 1990s” (as cited in Bendick, Jr. & Nunes, 2012, p.244). Today, women on average earn approximately $.81 for every dollar that men earn in the United States (Guy and Fenley P.41 2014).
Organizations are working hard in today’s world of business, not only to remain competitive, but also to focus on stability and structure. Employees are the backbone of an organization. It is becoming more important to offer quality HRM programs to staff, in order to support the retention of trained and experienced staff. Employees have always been concerned with salary however, there is a new focus emerging that looks at compensation as a whole entity. Monetary wages are now just as important as other benefits such as paid time off, medical and dental offerings and retirement. This paper will discuss the importance of the total compensation program which includes many aspects, not just salary. Attention must be paid to equal pay, pay