Wage and benefit analysis and surveys
Organizations that have high turnover and/or difficulty recruiting and hiring qualified candidates
Organizations that have experienced rapid growth or large shifts in employee numbers and responsibilities due to layoffs, reorganization, mergers/acquisitions or successful growth strategies
Organizations moving into a new line of business or industry sector in which wage and benefit expectations may be very different
Organizations seeking to drive cultural or organizational change through a link to wages and benefits
Organizations that have not conducted a wage and benefit analysis or survey in the past two or three years
Help attract and retain talented workforce by determining equitable and competitive pay rates to offer internally and externally
Create a fiscally responsible compensation structure that aligns with the organization's compensation philosophy and protects the bottom line
May maintain and increase employee satisfaction if wages and benefits are perceived to be fair
Helps identify potential sources of employee dissatisfaction if wages and benefits vary widely without a solid basis for differentiation
Drive potential payroll savings if wages are found to be higher than market and need to be adjusted
How AGH's wage and benefit analysis and surveys can help your organization
Are you offering wages and benefits competitive enough in the marketplace to interest top talent? Are you paying long-time employees who haven't improved their skills or abilities more than they should be earning? Could you be fostering resentment in the organization with inconsistent wage and benefit packages?
A wage and salary survey is a comprehensive examination of the positions identified as needing evaluation. For each position, our HR advisor reviews criteria including the job description, title, level of experience, education, knowledge, skills and abilities required and preferred, responsibilities carried out within the organization, and current wage and benefit data. Based on that detailed profile of each position, AGH makes a comparison to similar positions locally, nationally, and within industry sectors.
The organization will receive a report outlining wage and benefit ranges for each position, as well as a brief summary of any recommendations or commentary noting where changes might be considered in the overall wage and benefit structure based on national, local and industry standard practice. If significant or serious issues are identified in the survey, a full compensation structure review and development engagement may be appropriate.
Frequently asked questions
What are some signs that my organization may need to consider doing a wage and benefit analysis?
High turnover and applicants not accepting job offers are two red flags. With the current labor market, we also encourage organizations who have not conducted a wage/benefit review in the last 18 months to consider doing so now.
How does AGH select comparable organizations and/or what data sources does AGH use to compare pay and benefits?
We work with you to understand your competitors for your products/services and also for your talent. We may include organizations based on geographic location, revenue size, types of employees, etc. We use a subscription-based salary database, US DOL databases, and industry-specific salary resources when available to ensure we get a comprehensive view of your labor market.