Companies need relevant market data to ensure their employees’ compensation packages remain competitive in today’s hiring landscape.  Industry-specific survey data is particularly critical to understanding the market for individual contributor and middle management roles.

According to a recent WorldatWork survey entitled, Job Evaluation and Market Pricing Practices, about 45% of organizations use three or more survey sources to price jobs in their companies:  national data often are used to evaluate senior management roles, while local and industry-specific data are most commonly used to price individual contributor “production-level” positions.”[1]  The survey also notes that 88% of organizations have established methods for evaluating jobs, dominated by the use of market pricing.

We have always believed that more data sources are better than a single source.  Multiple sources help validate results and ensure that more positions are priced.  And industry-specific data provide important insights that are less apparent in general industry data.  By adding one of the Croner industry-specific Surveys to your toolkit of general industry survey data, you will be informed about market dynamics and effectively positioned to attract and retain the particular type of talent your company needs to thrive.

Call us at (415) 485-5512 if you would like to learn more about Croner Surveys or to talk about how we can help you with your compensation challenges.

[1] WorldatWork 2015 Survey: Job Evaluation and Market Pricing Practices