Importance of Salary Survey For the Employee and Employer

The globalisation of today’s workforce, skills shortages and the difficulty companies have to attract and retain top talent, makes salary information a vital source of information for both employers and employees.

Salaries can be an uncomfortable issue – most people would never discuss their salaries with co-workers or friends; and many employees don’t even discuss their salaries or need of a raise with their direct line manager, making it a particularly sensitive and secretive topic. One problem is that a huge gap often exists between realistic salary expectations and compensation offers from companies.

Whether you are an employee or an employer - salary surveys in South Africa can give you clear, comparable information regarding salaries, salary structures, geographical salary differences and package benefits so that you can make the right decision.

Salary survey benefits for the employee

Get a fair deal: Whether you are looking for a new job or simply looking for some information on pay equity to use during your next performance appraisal, a salary survey will give you all the details you need about the average salary levels of other people in your industry.
Be realistic: While you may think you are entitled to a much larger salary, a salary survey may prove that you are in fact receiving above-average compensation for your management level, years of experience, qualification or geographical location. A salary survey will allow you to be realistic when seeking a higher salary package from a new employer.
Be prepared: If, however, you find out that your salary level is not in line with market rates, it can give you the market data you need to approach management or HR and ask for a raise.

Salary survey benefits for the employer

Attract the right talent: Offering competitive packages enables you to attract key individuals to your organisation.
Inside knowledge of industry standards: Retain your top talent by tweaking your salary structures and benefits so that your staff has access to the same benefits they would get elsewhere.

How to get a salary survey

A company needs to partner with a reputable management consultancy firm, specialising in remuneration for access to a reliable and statistically valid salary survey. Contacting one of these organisations is often a good option for companies that operate in niche industries and require a certain level of experience, qualifications and skills from their new recruits.