If evaluating your organization’s compensation and total rewards programs is part of your annual routine, you may have noticed that spring showers bring more than flowers – they also mark the start of compensation survey season.
Why is everyone seeking compensation data at this time of year? Though there are certainly exceptions, most annual changes to employee compensation happen between the months of January and April. Most decisions for these changes take place in October through January. Therefore spring is the busy season for those who gather and report on this information, so it is at its freshest come fall when the most people need it.
Having current compensation data can help your business in many ways, including:
- Retaining key performers by ensuring you are adequately compensating the people critical to your survival and success.
- Ending the guessing game and allowing you to make sound compensation decisions by staying on top of compensation practices and trends
- Attracting the best talent by offering competitive compensation packages.
- Giving you easy access to reliable, up-to-date local compensation information to help with employee communications and management discussions.
Right on trend, People First’s 2015/2016 Compensation Survey for Manitoba Employers opens for participation this week and our Saskatchewan survey will open next week. Coming off the unprecedented success of the 2013/2014 survey, these compensation survey returns with a comprehensive look at base salaries and salary range targets, short term incentives/bonuses, benefits and workplace practices exclusively in the Manitoba & Saskatchewan marketplaces.
Interested in participating? Find out more and register here.