405: Data You Can Trust: Keys to Evaluating Compensation Surveys
Improve hiring and pay decisions by critically evaluating and selecting compensation data.
Two core strategies in managing an organization’s human capital base are to pay both competitively and cost-effectively. To do this well, you must know how to evaluate and obtain reliable labor market data for making pay decisions or you may underpay some employees and overpay others — both of which are costly consequences of faulty labor market analysis. Learn the critical questions you should ask when evaluating data.
Shari Dunn, a past president of NCHRA, has held management and professional positions with McKinsey & Co., Deloitte & Touche, Castle & Cooke, Fibreboard Corporation, Bank of America and Boise Cascade. She functioned as both consultant and manager in the areas of salary administration, executive compensation and sales/incentive compensation prior to establishing her own consulting firm, CompAnalysis, in 1980. Recently acquired by the Arthur J. Gallagher Company, CompAnalysis has a staff of 10 and specializes in helping employers develop effective approaches to paying employees equitably, competitively, cost-effectively, legally and in a way that motivates performance improvement.
