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Want to buy a remuneration survey? Keep these three points in mind

by , 14 February 2014
Using commercial surveys is a great way to see whether or not you're paying competitive salaries. But, before you buy one of these surveys, keep these three points in mind.

Yesterday we told you about the three ways you can use to conduct market remuneration comparisons. We said you can:

  1. Conduct your own research into market rates.
  2. Research job advertisements in the media.
  3. Buy a commercial remuneration survey.

Now we're going to expand on commercial remuneration surveys.


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Here's are three things to consider when you buy a remuneration survey

#1: Remuneration surveys are available commercially from consulting companies. Some industries run their own (industry related) surveys.

#2: The costs vary and it all depends on the type of survey, the extent of the database and the company offering the product. They can range from R1 000 to well over R10 000.

#3: They're usually done over a wide sample of companies on a national basis and are a useful reference on which to base your pay decisions.

Where does one buy a remuneration survey?

Companies that run surveys include:

  • PE Corporate Services
  • 21st Century Pay Solutions Group
  • Remchannel
  • Deloitte & Touche

The Practical Guide to Human Resources Management says when you've got your remuneration survey and are doing market remuneration comparisons; use the following factors as your basis for comparison:

  • Level/seniority of the position
  • The size of company (for senior and executive positions)
  • Job grade
  • Function/discipline
  • Industry/sector
  • Geographical location
  • Similar/benchmark positions
  • Review date and timing
  • The level of competitiveness you want to maintain (could be different levels of competitiveness for different levels/positions)

Now that you know about the factors to consider when you buy remuneration surveys, don't forget to check out this article. It has the four types of remuneration surveys you need to know.

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