Companies must establish an employee's value to determine a salary based on his or her contributions, but defining value requires intensive research into a variety of areas. Many businesses receive feedback regarding salaries from employees, which can help managers determine the proper wage for workers. Employee benefit consultants can help supervisors create surveys that provide valuable feedback.
Creating a salary survey gives workers the opportunity to be a part of the compensation determination process. Managers provide questions to employees to stimulate discussion about what defines a fair wage. Companies can use the surveys to identify their strengths and weaknesses, discovering how employees view current salaries and perhaps find ways to make improvements.
Salary surveys provide value to employees and employers, but only if companies ask the right questions. Employers should use a mix of open-ended and close-ended questions to get employees to think critically about their responses. In addition, businesses must develop a system to track survey responses. In doing so, companies can collect salary data they can use to compensate employees fairly.
Employers can utilize employee benefit services to receive information and resources to create salary surveys to be used across an organization.
