Salary surveys help employers attract, support, and maintain employees. By creating a culture of fair pay for work based on a competitive approach, companies are better able to attract workers.
Salary & Benefit surveys help determine wage levels, or how much you will pay for certain positions. By doing this, an organization is able to set its salary structure company-wide, which can help decide how many and what types of employees can be hired. Salary surveys help uncover wage trends, or fluctuations in compensation.
The ultimate goal of using salary surveys is to identify the market rate, that other organizations pay for similar work in the external marketplace. This is the goal because most employees expect to be paid at a level that is consistent with the market rate for comparable work and it provides the organization with a competitive work force.
