Winning the battle to keep your brightest and best: Salary surveys provide like‐for‐like information on who earns what

Abstract

Purpose

Examines the role of salary surveys in helping organizations to retain their top talent.

Design/methodology/approach

Describes how D3 Group carries out sector‐specific salary surveys of senior jobs – the ones with key commercial impact on the business – so that companies can see how their pay and benefit packages compare with those of their competitors.

Findings

Reveals that each survey takes information provided by participants and analyzes it to give a market perspective on current remuneration packages. It is available exclusively to participating organizations, on a confidential and non‐attributable basis, so that no data can be tracked to specific businesses. Each participant knows the identity of the other organizations, but not the data from them.

Practical implications

Contends that the answers provided can only ever be temporary and the exercise will probably have to be repeated – more and more frequently as the pace of business change continues to quicken.

Originality/value

Explains that roles are defined in terms of the scale of the job‐holder's trading position, rather than on detailed job descriptions. This helps to give a like‐for‐like market comparison for each job.

Citation

(2007), "Winning the battle to keep your brightest and best: Salary surveys provide like‐for‐like information on who earns what", Human Resource Management International Digest, Vol. 15 No. 6, pp. 31-33. https://doi.org/10.1108/09670730710820208