I have been tasked to create a salary structure and all I have to work with is internal data (current salary, job levels) without any market data. Is this doable? Can someone give me some insights on how I can do this?
From Singapore, Singapore
From Singapore, Singapore
Dear colleague,
In my view, without considering market data, the pay restructuring exercise just on the internal parity will be lopsided and incomplete. It will not help you in arresting attrition of talents.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
617In my view, without considering market data, the pay restructuring exercise just on the internal parity will be lopsided and incomplete. It will not help you in arresting attrition of talents.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
I totally agree on this part but the company would like to do this for a start and sieve out outliers. What i have to work with is a 2012-2013 data which i will then need to age it for reference sake.
From Singapore, Singapore
From Singapore, Singapore
Dear colleague,
For this exercise what is first and foremost is very sound job analysis , grouping of jobs of similar skill, knowlegde ,education/experiences levels together and then build hierarchical structure. Further ,analyse whether present salary level is matching with the job/ skill level to throw parity or disparity across the jobs.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
For this exercise what is first and foremost is very sound job analysis , grouping of jobs of similar skill, knowlegde ,education/experiences levels together and then build hierarchical structure. Further ,analyse whether present salary level is matching with the job/ skill level to throw parity or disparity across the jobs.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
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Internal Equity Analysis 1.pdf
Salary-Note.doc
SALARY SHEET CALCULATION.xls