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Guide to Salary Information Resources
Salary information resources: the options and benefitsSalary resources are important to any business developing new positions within their firms, or in re-evaluating current salary support to existing employees. Salary reference materials are often invaluable resources for organizations seeking to recruit new employees or promoting existing hires.
1. Help with salaries is available to employers with the right amount of research and investigation into current salary trends.
2. Finding the right salary for new employees and existing hires is often difficult to manage without outside assistance.
3. An effective salary information resource is useful to employers for budgetary projections and future planning.
Action Steps
The best contacts and resources to help you get it done
Seek outside salary resources for executive level compensation needs
Many consulting firms offer generalized and specific salary information to organizations. For executive level positions, these options are particularly important for senior managers and compensation committees looking for guidance regarding executive salaries. For organizations facing these challenges, executive compensation levels are often difficult to identify.
I recommend:
Pearl Meyer & Partners provides individualized services for executive compensation needs. CompAnalyst Executive offers specialized services for executive pay programs in large corporations and smaller entities.
Choose a salary directory with a comprehensive listing of salary information
Many websites and other resources offer detailed information regarding executive and staff level compensation. These offerings are important in advancing organizational objectives and in managing budgetary constraints.
I recommend:
Salary.com offers individualized reports, based upon specific careers and positions. Abbott, Langer offers specialized reports and surveys for a variety of industries.
Identify salary information resources for college graduates and new hires
A variety of products and services are available to businesses to identify starting salaries for new graduates. These salary information resources are important in recruitment efforts for new college graduates to identify strong candidates. Find salary information resources for new graduates online or in local libraries.
I recommend:
Salary Search offers salary information by position and industry, as well as location. Choose PayScale as a viable alternative to obtain pertinent salary information for new hires.
Tips & Tactics
Helpful advice for making the most of this Guide- Search for a salary guide with comprehensive information to support short and long-term business objectives. Identify a job salary reference tool with a variety of options that permit pay scaling. When outside consultants are required, discuss these objectives with key leaders to determine if these options are cost effective for the organization. Finally, establish an understanding of your immediate and long-term salary needs to support any changes in scope or objectives that might occur in other fiscal periods.
