In an era of war for talent, maintaining competitiveness in regards to salary and benefits is the basic conditions for securing core talent from the outside as well as protecting corepersonnel from rival companies. Market Salary Survey is working to compare the levels of compensation of related industries to determine the level of external competitiveness for compensation and derive improvements.
First, we look at what type of Industry and Company & Size the survey is based on.
Second, Observation Volume or Number from compensation survey.
Third, the standard for the compensation survey, such as position, grade, or years of service, must be considered.
Inthe case of Korea, where we have many companies with a “job-title/rank”-based HR management as opposed to the general “job-value”-based HR management, the survey results provided by Global Vendor, at many times, does not conform to reality or is very limited. Therefore, it is much more desirable to conduct a customized Market Salary Survey centered on the Peer Group and a clear Target market.
HCG conducts a position/responsibility-based salary and benefits survey focused on the pertinent industry of the client, and through this, assists in establishing a competitive compensation policy.
Also, for foreign cases, through several Vendor Data which carries the most abundant findings from each country and region, we can assist in allowing for the right decisions to take place accordingly.