Selecting the data sources

Amaze can help you to identify the most appropriate data source which best matches your organization needs. Basis your talent pool analysis we can recommend you one or a combination of sources as described below.

The first step to compensation benchmarking and building up-to-date salary ranges is selecting your sources for current, market salary information. You want the data to be specific to your industry, geography and type of organization. And, your goal is to benchmark 75-80 percent of your positions so the data must also cover a variety of skill sets, experience levels and educational backgrounds. For data sources, you have three basic options:

• Published, TraditionalSurveys - These come from the government, associations or consulting firms and offer a broad perspective, though they may not be entirely up-to-date or match your organization’s structure, location or size.
• Online Data and Software - There are now online resources that offer self-reported salary data from employees. These sources are very timely, easy-to-use and more cost effective than traditional sources.
• Custom Survey - Severalfirms are available to custom design a survey just for your business. These types of surveys are often very accurate and very expensive. It is recommended that you use at least two to three different salary data sources when setting salary ranges to ensureaccurateresults