With both main political parties now wedded to the idea of public sector pay freezes and major private sector employers such as British Airways weighing in with similar initiatives of their own, reward specialists may wonder how they are going to fill their days.
One answer is that they should take the opportunity to get a real understanding of how pay and benefits in their organisation benchmark against competitors and others in the wider labour market.
To that end, XpertHR Job Pricing offers a powerful set of online and spreadsheet-based tools based on data collected by salary survey specialists CELRE. There is a short video interview on XpertHR today in which I explain how and why you should participate in salary surveys.
Of course, affordability is a key factor behind most pay freezes, but employers deciding what to do in 2010 do really need to know what impact their decisions are going to have on their abilities to recruit, retain and motivate employees.
Two years of pay freezes while the majority of employers continue to bump up salaries by 1, 2 or 3% a year will leave a salary gap that makes it increasingly difficult to operate effectively - especially as we start to move out of recession and demand picks up.
Equally, if yours is one of the companies awarding those incremental pay rises each year and your competitors are not, you may not lack for job applicants and happy employees, but those awards are rapidly going to affect your competitive position.
Most organisations of any size buy at least some salary data, but often there is a reluctance to participate in the surveys that produce it.
In the video, I explain why there are advantages to participation. By doing so, employers go through a "job matching" process which maps their organisation's roles to the survey and makes benchmarking transparent and accurate.
Additionally, if you participate in a CELRE salary survey, it means that through XpertHR Job Pricing we can provide you with more powerful tools which show your position in the market and which allow you to manipulate and download the data for use within your organisation.
We can also offer you help on the phone, by email or in person at your office if you need any help in matching jobs and submitting data.
The video is around five minutes long, so why not take the time now to watch our video guide to participation in salary surveys.
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