Pay and Benefits Benchmark Review
Zviran’s compensation and benefit surveys produce reliable, up-to-date information for management use. The surveys shed light on the market status and the company’s relative position within it. However, to optimally design and manage the company’s compensation and benefits policies and make good business decisions, survey results need to be analyzed to provide a clear picture of the company’s status as a basis for relevant decision-making.
The consulting activity in this area is a complementary service to the compensation and benefits surveys. Services in this area include:
defining the peer group – what is the market? All employers? A cross-section according to company size and line of business?
Compensation Package Analysis
The analysis is conducted on two levels:
- Macro-level analysis – focuses on the aggregate picture of all company employees and enables an overview of the company’s position relative to market.
- Micro-level analysis – focuses on each company employee and analyzes his/her relative position (Comp Ratio) with respect to market pay levels for the same position.
The analysis provides managers with a detailed snapshot of the company’s pay and benefits position regarding:
- Compensation equity within the company (internal equity).
- External benchmark (position relative to other companies).
- Gap between the desired and current status, and planning the optimal method to close this gap.
- Specific employees and/or groups requiring special attention.