The Importance of Salary Surveys Canada

Salary surveys Canada is a standard technique of discovery what other organizations in Canada are paying for particular jobs or job programs. Big organizations in particular, regularly conduct compensation surveys to determine main pay rates and benefits. These surveys not only determine the high, average and low salaries for a given position but also offer a logic of what other organizations are paying also.

Using the right salary information is very important in attracting and retaining the right people for your organization and it probably comes as no surprise that job hunters list salary as their number one thought when looking for a new job. In order to capture the attention of capability in any industry, it’s vital that your establishment offers competitive salaries that correctly reflect employees’ job title, experience level, and location.

These surveys are conducted with several employers to determine pay levels for particular job categories and are usually conducted either by region, subdivision or job classification for the purposes of comparability. When designed and used appropriately, salary surveys Canada can provide valuable benchmarking data for comparing salaries and benefits. Numerous organizations want to use salary surveys to set the compensation levels for their organizations. Unluckily, it is not always as simple as reading a survey and using the information.

What it takes to produce a salary survey

Conducting a salary survey is a time-consuming task mostly if it is the kind of survey that requires a lot of information. However, the process of gathering information and producing a salary survey takes cautious planning and implementation that involves economic investment, individual’s funds, and time. Some organizations conduct surveys in-house (internal) using their own staff and compensation experts. However, most companies get a third party to collect the information. The third-party methodology provides a level of independence that most participants want. Some salary surveys Canada are co-sponsored to attract more participants and to add credibility to the numbers. A proficient data/information provider in survey methods and statistical study is estimated to provide reliable, quality and precise data.

What to do, for an excellent salary survey data

In case, you do not have the skills, time and other necessary things needed for the collection of data, it is advisable you seek for assistance and save yourself from errors. Nevertheless, for a perfect job you can make use of, with COIRI you are guaranteed to get the particular salary survey information you are looking for.

COIRI was established in the year 1943, specializes in the Ontario employee compensation, and other interrelated employment problems.

COIRI was the first organization in the country to begin compiling and publishing large-scale wage and salary compensation and benefits surveys and continues to publish the Annual Survey of hourly paid workers/employees in Ontario and the annual survey of salaried employees in Ontario every year. For over 70 years, it has pursued its unique mandate: to provide timely, comprehensive and cost-effective reporting services to management in the area of employee benefits and compensation. COIRI has successfully completed thousands of salary surveys Canada for both individuals and organizations.