Finding a reliable resource on current market compensation
rates can be a frustrating, time consuming and expensive
endeavor. Employers searching for current salary rate information
typically will find they need to pay for it, and even then,
the information available to purchase is usually released
once a year, causing the information to become outdated soon
after the data is released.
Other sources, such as word of mouth, government statistics,
and information from organizations like the Board of Trade
and Chamber of Commerce, are often time consuming to research
and only as current as their date of publication.
Being aware and on top of market salary rate fluctuations
is now a necessity for employers. The market we are now in
is a “buyer’s market” for employees. Offering
the appropriate compensation is essential if employers want
to recruit new employees and keep current workers employed
at their organization. This isn’t merely talk or prediction – this
is the reality. If employers don’t seek to find out
what other employers are paying for similar job positions
or roles they face the risk of increased turnover and talent
reduction within their own organization.
“It’s cheaper to keep an existing employee than
it is to hire a new one,” states Angela Longley, Account
Manager with The Personnel Department, a leading staffing
and recruiting organization with offices in Australia, Canada
and the US. “I always encourage employers to be proactive
about the market rather than become reactive to it.”
Yet the difficulty in accessing the information out there
- not to mention the sheer expense to access it - is a deterrent
for many managers as they seek to find the most reliable
and current information available on salaries and pay rates.
The Personnel Department has created a program in response
to this need; it is an online forum where employers can both
collect salary data and input their own. Called “THE
Salary Guide”, the program began as the 25 year anniversary
legacy project for the company, and has now been active since
2005.
THE Salary Guide stands alone in the service it offers to
the business community. With salary information added and
adjusted daily, it is a reliable ‘here and now’ resource
reflecting current salary data that is neither static nor
dated in its presentation. This makes it a valuable tool
to help employers and managers stay informed in a rapidly
changing marketplace.
“
Every time I have an employee coming up for a salary review,
I refer to the salary guide to make sure we are paying our
employee a competitive salary,” says Greg Reimer, Warehouse
Manager for Konica Minolta Business Solutions.
Reimer is one employer who has had difficulty in the past
trying to find adequate salary rate information. “In
some extreme cases, I called other businesses and asked them
about their salary levels for similar positions,” he
said. “Wages have gone up a lot in last year or two.
It is now an employee’s marketplace. I use THE Salary
Guide to get a better handle on wages for my employees by
finding out what other employers are paying for similar positions.”
“It’s been a great tool that allows clients
to participate,” says Longley. “However one does
not even need to be a client of ours to participate in this
resource. Our community employers rely on us as a resource
for up to date market information, and THE Salary Guide gives
us neutral credibility – not just as service, but as
a resource.”
Jeanie Owen, Vice President Staffing & Contract Services
at The Personnel Department, agrees. “Given the talent
shortages, it’s a service that is relevant to all organizations.
We can’t stress enough the importance of paying current
competitive rates to attract and retain great staff.”
What is unique about the service is that members input the
data themselves, thereby having control and influence as
users. Although THE Salary Guide is a protected website where
members are given their own login code and password, the
service is free and available to any employer organization
to join.
With reference to a wide cross-section of the business community,
employers are able to view viable salary rates within a range
of the lowest to highest categories, as well as the median
and average pay rates for each position. The website also
includes detailed job descriptions to give employers an idea
about what they can expect to pay for different skill sets.
“Employers are often surprised at how much things
have changed,” says Longley. “They often gauge
what they’ve paid in the past when they hire for a
certain role or position, which means that they often look
back instead of looking forward to stay current with the
times.”
Kiven Wenman, Sales Manager at The Personnel Department,
finds it’s a useful service to refer to when talking
to clients about market related salaries. “Often
the skill sets compared to the salary offer do not match,” he
says. “THE Salary Guide is a reliable third party
resource.”
This resource may not alter what one can afford to spend
but, considering the cost of recruiting new employees, employers
may be well served by adjusting wages to retain existing
staff and by being market comparative in pay to ensure a
recruit is not soon lured away by more money.
Reimer concurs. “I have used THE Salary Guide as a
resource when I needed to convince my higher ups that we
were out of line on some of our salary level,” he says. “I
find it a valuable tool in retention of employees.”
THE
Salary Guide
is available at http://www.tpdsg.com
• This is a free facility for
employer use only.
• You do not need to be a client of The Personnel Department
to participate.
• Apply at http://www.tpdsg.com to get your
secure
pass code.
• This is a complete service in itself.
• Participating users are enabled to edit and augment the system
to meet their needs.
• Users are not required or even requested to buy reports,
access rights, or such.
• This is the 3rd year of service for THE Salary Guide: http://www.tpdsg.com
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