When It Comes to Compensation - It Pays to Be a Step Ahead
TORONTO, March 14, 2013 /CNW/ - Adecco Employment Services Limited released the 2013 edition of their annual compensation guide, Numbers For Your Next Step, this week. The guide provides salary ranges based on current market data for over 100 positions along with details on how to design total rewards programs that will result in improved employee attraction and retention.
Why does having the most up-to-date compensation data matter? There are many obvious reasons; however, the less obvious is to ensure employers stay a step ahead, not only of their competition, but of their employees and interested candidates as well.
With such a vast amount of information available at their fingertips, employees and candidates alike have access to compensation data through a variety of websites allowing them to be better informed of acceptable pay rates. This information however can be misleading, opening the door for expectations that are not always fair or in line with the market.
Why? The majority of employers who post pay ranges within their job ads lead the market in compensation. Many other employers opt not to post a range at all. This leads to a skewed impression by job seekers of what fair market value for that job is.
Additionally, with so much information available on the web, it is hard to determine what information is reliable and what is not. It is important for everyone to understand how the data is generated, the number of companies or individuals participating, and the regions represented. These factors all impact how closely the information aligns with your organization.
"Employers in any market need a competitive leg up and ensuring your organization has a sound total rewards program is a necessary way to attract and retain top talent," said Shari Angle, Vice President of Talent and Communications for Adecco Canada. "But be warned, public information isn't always reliable or if reliable, it isn't necessarily aligned with your organization's size or geography. It is helpful to have valid data to assess your practices and to communicate this when necessary. Adecco's total compensation guide can provide employers of various sizes with accurate data that is regionally adjusted."
Adecco Canada is one of the leading and most comprehensive staffing and workforce solutions companies in the country. Our solution offerings include: permanent, contract, and temporary recruitment; executive search; partnership services; and HR consulting within a variety of industries. Adecco also operates within Canada under the specialty brands Roevin Technical People Ltd. for engineering, technical, and IT placements; and Holloway Schulz & Partners for permanent and executive search.
SOURCE: Adecco CanadaFor further information:
Marketing Manager, Adecco Canada
T. (416) 646-3322 Ext. 5449