Business Salary Analysis Form
The Business Salary Analysis form below is free to download and print.
This form will assist you with analyzing salary information you have obtained through salary surveys or other methods.
The Business Salary Analysis Form is where you fill out the appropriate information for your business and your competitors in order to compare and analyze differences in the various categories.
You will be analyzing:
- Position Title
- Base Salary
- Benefits (Medical, Dental, Life Insurance, Other)
- Stock Options
- Retirement Benefits
- Additional Benefits
These will be compared to your organization, local organizations (2), and industries (2) so your company can analyze where you can improve.
Paying paying your employees fairly is good for your business, but if you underpay your employees they will eventually look for a better offer. If you overpay your employees your business payroll budget and profitability will suffer due to this action. This explains why businesses use market data to research the values of their jobs.
According to a Salary.com poll, more than 80 percent of business managers and Human Resource professionals said their companies either participate in or purchase at least one salary survey each year. Companies with less than 500 employees spend an average of $2,000 a year on salary surveys, and companies with more than 5,000 employees spend up to $15,000 or more each year on these important data sources.
Companies pay for compensation data because the benefits way exceed the costs. The amount these companies spend on surveys is just a fraction of a percent of their total payroll costs.
Compensation data is becoming widely available on the internet for free or at an affordable fee that most individuals can afford. The best product in the compensation data business is a custom study of what each individual job within a company should pay based on a very specific, targeted market data. A large company could pay hundreds and thousands of dollars or more for this type of in-depth company-wide analysis.
Click on the link to download the business salary analysis form below: