First, Let's agree on what's right & What's Wrong in Most of Salary Surveys . The right is getting better salary structure which leads to better Job Satisfaction " hopefully "! . The wrong is, Salary is not the Compensation ! , Salary is a core compensation which means it's apart from total compensations not the Whole Compensations nor the total Rewards ! So Let's Conduct the big picture Survey " Total Rewards Survey " .
Salary surveys giving you overall bench-marked employment Salaries despite other Benefits ( like insurance schemes , Annual leaves, Transportation , housing , etc ), L&D opportunities, or Career Development plans. So in some Cases, the Salary Survey report shows that X company is paying well and sometimes leads the market in " Salaries ", but on the other hand it is lagging the market in other " Benefits " or " Non- Core Compensations "!
To guarantee the R.O.I of the Conducted Survey which is " Getting External Equity " to our employees with the Benchmark - you should keep your eyes close also to the benchmark Total compensations, Benefits, L&D and Career growth .
Conclusion, Stop conducting salary surveys and Let's Start the Era of ( Total Rewards ) Survey .
