Market Compensation Analysis Layout
I. Executive Summary
Purpose: (Summarize the key findings and recommendations of your compensation analysis.)
Content: (Include an overview of the analysis goals, significant findings, and any high-level recommendations for action.)
Format: (Brief paragraph or bullet points, ensuring clarity and conciseness.)
II. Objective
Purpose: (Define the specific goals of the compensation analysis.)
Content: (State the reasons for conducting the analysis, such as aligning with industry standards or addressing pay equity.)
Format: (Clear and focused statement or set of objectives.)
III. Market Overview
Purpose: (Provide context about the market in which the organization operates.)
Content: (Describe industry trends, geographic factors, and economic conditions that impact compensation.)
Format: (Summary with relevant data, possibly supported by charts or graphs.)
IV. Data Collection Methods
Purpose: (Explain how data was gathered for the analysis.)
Content: (Detail sources such as salary surveys, industry reports, and internal compensation data. Include methodology and any limitations.)
Format: (Narrative description with bullet points for methods and sources.)
V. Compensation Benchmarking
Purpose: (Compare your organization’s compensation levels with market benchmarks.)
Content: (Present data on salaries, bonuses, and benefits for similar roles. Include comparisons to industry standards.)
Format: (Tables or charts comparing internal compensation with market rates.)
VI. Job Descriptions and Matching
Purpose: (Document and match job roles to market benchmarks.)
Content: (List roles with detailed job descriptions. Explain how these roles were matched to industry benchmarks.)
Format: (Table or list of job roles, including descriptions and matching criteria.)
VII. Data Analysis
Purpose: (Analyze and present the results of the compensation data.)
Content: (Include visual representations of data such as tables, charts, and graphs. Highlight discrepancies or alignments with market standards.)
Format: (Data tables and visual charts, with narrative analysis explaining the results.)
VIII. Recommendations and Action Plan
Purpose: (Provide actionable insights based on the analysis.)
Content: (Offer suggestions for adjusting compensation structures. Include a plan for implementing these changes and addressing any disparities.)
Format: (Actionable recommendations with a detailed plan, including timelines and responsible parties.)
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