Job Compensation Survey
Friday, February 16, 2007
Companies spend millions of dollars annually to gather salary and compensation data from firms that use the survey approach. These surveys allow companies to compare their salary and compensation plans to those of other companies that participate in the same surveys. Believe it or not, there is a better way. The use of The People Ticker allows companies to compare their rates and salaries to the job / applicant marketplace that exists at any point in time. Traditional Compensation tools use the surveyed information and make it available in several reporting formats to subscribers. The survey approach allows subscribers to see annual compensation data for individuals and related skill sets that have already been hired at some historical point in time. The problem with this can be that the survey tools have limited, pre-defined job titles and vague experience levels that make any comparison generic, out of date, and only somewhat useful.
On the other hand, The People Ticker is a non-survey based rates and salary tool that provides its users on-demand searching. See hourly / annual salary data related to the next hire in today's market. The People Ticker recognizes that effective rates and salary data cannot be based on standard job titles and that rates and salary data vary based on specific skill sets. It focuses on the Job / Applicant Market rather than historical data related to an embedded base of employees, understanding that the Job / Applicant Market is relatively unstructured due to the varying jobs that companies are recruiting and the varying skill sets of the applicants.