Written by Kara Deyermenjian
April 6, 2018
When the time rolls around to start planning for costs associated with salaries, it’s not uncommon for a stakeholder to ask,
“what kind of budget are we working with?”
While this question may seem straightforward, many HR and compensation professionals find themselves struggling to respond. They feel like it can be a challenge to make effective macro salary budget recommendations without accurate data around how their competitors are budgeting to support their requests.
Even in a universal sense, data is critical. It’s unwise to make important decisions without having all the facts – and in the world of HR, not properly budgeting for salary costs due to a lack of data can result in top performers leaving, missing out on top talent, and a decline in employee engagement. Bottom line: data reigns supreme – and organizations must start rolling out the red carpet, or face some less-than-desirable consequences.
How do we remedy this situation and liberate HR professionals everywhere from headaches associated with not having adequate data sources? Surveys.
As the marketplace changes and competition intensifies, it’s increasingly important for organizations to stay current and proactive in their salary budget planning – and that is why Salary.com has opened its participation period for the annual US and Canada National Budget Survey.
To address the universal need for salary budget information, the survey results will offer HR and compensation professionals critical insights into the budgeting practices of more than 1,200 diverse companies annually.
Now in its eighth year, Salary.com offers participants both a top-level overview of budget trends and full access to the complete survey results. The survey results will be available to participants free of charge.
Don’t be left data-less. Participate in the survey today, and gain the ability to make better decisions tomorrow.
Download our white paper to further understand how organizations across the country are using market data, internal analytics, and strategic communication to establish an equitable pay structure.