cdooley

Are Salary Surveys Outdated?

Blog Post created by cdooley Advocate on Jul 14, 2016

Compensation Data Facts - What's What

in Compensation

 

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DID YOU KNOW?

 

Annual salary surveys have become a common tool for Human Resources to analyze compensation and set pay levels based on region, skill level, industry and company size. But the explosion of the "gig economy" and the high demand for “skilled labor” has caused companies to rethink their strategy. Now more than ever, companies are looking for current market information in order to hire and retain top talent… and they need both salary and contingent labor rates.

 

Antiquated annual salary surveys are just not able to keep up with the high demand for skilled workers. Companies like PeopleTicker provide real time rate information that is easy to use, provides both salary and contingent pay rates, and job definitions that reflect market needs.

PeopleTicker provides Market Intelligence to Human Resources professionals and Procurement teams helping organizations benchmark their existing suppliers, and design more cost effective new programs that maximize both full time regular and contingent labor spend. As the need for skilled labor increases throughout the world, companies need to know “how much” when hiring or procuring new talent. Annual salary survey technology is ineffective in providing true compensation market rates that take into account changes in employment demand by geography or industry. By combining big data aggregation with crowd-based validation through its SkillsVillageeco-system of experts, PeopleTicker provides the most accurate and current compensation information available in the market today.

 

 

 

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