We'll Take Care of This Step in Your Budgeting Process, No Problem. π
No judgment if you're using salary.com for compensation benchmarking, but there are better, more accurate options out there. According to a 2023 Gallup poll, only 50% of employees reported being satisfied with their compensation, while 33% cited dissatisfaction due to pay inequities and inadequate raises.
A 2024 LinkedIn survey revealed that 45% of employees consider inadequate compensation a top reason for leaving their job. Competitive pay isnβt just a nice-to-haveβitβs critical for retention.
So, how can you ensure your compensation structure is competitive and fair? It's time to schedule a Compensation Data Study for 2025.
For companies with 100 or fewer employees, a one-time fee of $1,750 covers:
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Workbook setup
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The full analysis
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A mid-point clarification call
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A detailed report, including:
Job description notes
Timeframe data
Each employee plotted within the 10th, 25th, Mean, 75th, and 90th percentile
Title and job description suggestions based on research
Modeling for future performance review increases
Recommendations for leveling pay if employees are over or undercompensated
Pay band data for each job title
Defined raise and bonus pools for easier planning
With this study, weβll provide the clarity and insights you need to move into 2025 with confidence. We can knock this out in about a month, setting you up for success as you finalize your budget.
Let's take your budgeting process to the next level.