Stay Informed and Up-to-date with Benefits Surveys Canada
Posted: Jun 07, 2018
Salary surveys Canada are vital to collect and analyze appropriate data with the use of a flexible database designed to suit the needs of the client.
Administering salary surveys Canada is a complex and time-consuming process used almost exclusively for permanent or full-time employees within stable markets. Salary surveys are a standard method of determining what other organizations pay for specific job classes or jobs. Large organizations routinely administer benefits surveys data to obtain compensation data Canada and determine prevailing benefits and pay rates.
Salary surveys and compensation data Canada help companies to:
- update and design their salary bands and levels
- receive information about the modern trends in the market and respond quickly to changes in the business environment
- identify the policy and regulations regarding increases in salary
- design their rewards strategy
- identify their level of attractiveness to their employees as an employer of choice in terms of benefits and data
- compare their benefits and compensation policy with the competition
- create competitive benefit plans for employees
These just show that salary surveys are crucial to the overall success of organizations and business, especially when it comes to attracting and retaining loyal employees. However, many salary engine tools being used today are outdated methods. They try to create a general or one-size-fits-all approach for experience levels, job descriptions, and job titles, which allows them to maximize the data points’ number.
Also, HR professionals spend huge amounts of money each year, collecting compensation data Canada with the use of this old approach. Most surveys are also updated only once or twice a year. They are based only on titles rather than on job descriptions. In addition, they aren’t targeted enough to obtain a certain level of accuracy.
Thus, the salary and employment comparison data are highly limited in terms of depth and scope. It also requires more time and effort from the teams to make useful data and interpret it.
Deal with a reliable service provider that provides accurate data so that you can compare the real-time information at a certain time. Using a combination of the newest technological advancements today, you can now take advantage of more reliable and accurate data.
Surveys serve as an invaluable resource for organizations and individuals to develop and review a company’s compensation package. For companies, it allows them to identify what other organizations are paying and know whether or not their benefits packages are competitive. Benefits surveys Canada also help employers keep track of the market and make smart management decisions.
Effective, up-to-date, accurate and reliable salary surveys Canada, as well as benefits surveys, help you design a competitive compensation package aligned with the objectives and goals of your organization. No guessing, just real-time information and correct data. This also allows organizations to level roles to analyze total rewards, long-term incentives, total cash compensation, and direct compensation. In addition, salary surveys in Canada provide details and robust compensation data Canada for all geographies and industries.
Coiri provides comprehensive yearly reporting services of benefits surveys, salary surveys, employee compensation surveys, and executive compensation surveys in Canada. Custom surveys, human resources legal advice by us.