You are employed as a compensation specialist by an organization that provides warehousing and distribution services across the United States. Your company also recently expanded operations into Canada. As a growing multinational enterprise, managers are concerned with keeping up with industry standards to maintain a competitive edge.

You have been asked by your human resources (HR) director to develop a presentation for your corporation's board of directors in which you will propose a compensation survey that will help to determine the organization's pay structure.

Why is a compensation survey needed?,

How is it going to be conducted?

How will it help determine a pay structure of your choice for the organization?

Discuss how international growth will play a role in this.

 

Answer:

The purpose of salary surveys is to identify the compensation structure. Researching survey data can help an organization break down how to divide compensation among the various available categories.

Step-by-step explanation

The survey will be conducted by first listing the industry and geographic area from which the data will be gathered. After that, there is the determination of the occupational field that the survey will be conducted (HR-Survey, LLC, 2019). The introduction and confirmation of the surveys to be conducted should be consensual to the targeted firms and their employees. The survey will include questionnaires that will be later analyzed to find salary averages to guide final decisions.

The pay structure will be determined by calculating averages of each of the researched positions. In addition, produce mean and median salaries for each position and title (HR-Survey, LLC, 2019).  If the survey includes data from a large number of participants, the value of the survey results will be increased if the results can be tabulated by other employer demographics such as: funding, type industry, geographic region and size of the organization.

International growth enables organizations to define compensation packages that best meet the needs of both the employee and the employer without necessarily being constrained by the borders of the country the employee is based in (HR-Survey, LLC, 2019). The international growth allows the organization to forecast which packages will be most competitive in line with competitors within the same industry as the organization doing the salary survey.

References

HR-Survey, LLC. (2019). Salary and compensation surveys from HR-survey.com. HR-Survey. https://hr-survey.com/SalarySurvey.htm