A wage and salary survey is used to compile market pay data for a plethora of jobs on either a local or nationwide basis. This survey is usually performed in order to assess the effectiveness of a company’s current pay structure and practices. Surveys are used to plan future methods of compensation, and they can be instrumental in exposing gaps and waste stemming from current policies and procedures. A comprehensive survey may also provide companies with wage data from other companies – this will allow them to assess their own compensatory policies and adjust them accordingly. Survey data is compiled using various data and records from human resource departments. Information will usually be displayed on a wage curve.
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