The document discusses compensation surveys, specifically the National Compensation Survey. It provides details on what compensation surveys are, how they measure wages and benefits, and how organizations use the data from surveys to develop competitive compensation packages to attract and retain employees. Compensation surveys give companies information to ensure their pay plans are in line with industry standards.

1. COMPENSATION SURVEY
By,
ROSHNI MATHEW
MACFAST,TIRUVALLA

2. Compensation survey
• A compensation survey is a general overview
of compensation and trends.
• The National Compensation Survey
(NCS), published annually, is a widely used
resource that measures job
wages, compensation trends and provides
benefits information.

3. BASICS
• The NCS is a leading compensation survey.
• It provides a detailed look at occupational
earnings on a national, regional, metropolitan
and non-metropolitan location basis.
• It offers current wage and benefits
information and identifies trends for any of
the areas indicated,

4. Compensation Survey Instrument
• A well-designed compensation survey can lead
to major changes in a company.
• A compensation survey instrument is often
designed as a way to gauge a company's level
of competitiveness in the marketplace in
terms of what kind of compensation packages
it offers employees.

5. Users
• Hiring organizations use the NCS as well as
other state-based and privately published
compensation surveys to develop hiring and
pay plans for positions.

6. Benefits
• Using national, regional, local and industry-
specific compensation data, hiring
organizations are better able to attract top
candidates by offering competitive wage and
benefits packages.
• They can also avoid grossly underpaying or
overpaying employees, which can lead to low
morale or over-spending.

7. results
• Compensation surveys provide companies with
information on the average pay for positions in
their company.
• Business owners and managers often use this
information to determine if their company
provides compensation above, below or on
average with the industry.
• These surveys may be the result of an internal
business process in which the human resource
department gathers and disseminates this
information.

8. Tips & Warnings
• Keep the survey as short as possible. Unless
responding is compulsory and you have a way
to enforce a response, people are more likely
to choose to respond to a short, focused
survey.