Salary Surveys are a very important tool for any organization planning on a new venture. These surveys give an idea of the average compensation that will be expected, hence making them an asset for proper planning. The compensation data is collected from several employers, segmented by industry, job title and geographic location.
Types of data in a salary survey
Salary surveys may include quantifiable and non-quantifiable data.
Quantifiable data:
- Basic salaries
- Salary ranges
- Starting salary
- Allowances and benefits
- Working hours
Non-quantifiable data:
- Geographic location
- Job title / role
- Educational requirements
- Working conditions
What to look for in a salary survey
While different organisation may require different sets of data, there are a few information that are essential in a proper salary survey.
- Appropriate jobs
The same job title may vary according to industry. Hence, it is important that the data collected is representative of the position you are looking at.
- Methodology
Data collected and reported should have been gathered from a respondent pool size. This ensures the data is relevant and accurate.
- Tabulations
Salary surveys must be tabulated according to different criterias, such as job title. Other demographics can also be included to enhance the value of the data.
Consistent data is key
Survey data is highly time sensitive and become obsolete quickly. Therefore, the first key criteria to look for in a salary survey is up-to-date data. Africa HR Solutions is partnering with Emergence Growth to provide the most reliable data across Africa. Data is gathered throughout the year to ensure consistency and released thrice a year for each country in Africa. Custom reports can be prepared for any job in any African market.
