Compensation survey provides opportunity to compare the compensation level in the organization to the compensation level in the labour market. Information on salaries, incentives, bonuses, benefits and perquisites for performers of different positions, as well as information on trends of employee compensation policy and forecasted changes in compensation in particular market segments and in the general labour market are summarized in the survey.
The Aim of the Compensation Survey
- To provide managers with information on compensation in labour market to help to decide how much, to whom and how to pay.
- To reveal inadequate compensation of employees – higher or lower than in the labour market.
- To help to follow and evaluate changes in the labour market, make compensation related decisions and define the right compensation packages consistent with the current situation.
- Optimally divide limited salary budget.
Fontes carries out annual compensation surveys providing information on compensation in all three Baltic countries and providing high quality data, arguments and support in the decision making process regarding compensation, compensation system and labour market trends in general. Fontes Compensation Surveys in Latvia have been carried out since 1996, in Estonia – 1995, and in Lithuania – 2007.
Benefits of the Survey
Job classification – jobs structuring in organizations by job families and levels according to FontesJob Catalogue, for example, Accounting II – 160 points, Sales III – 184 points.
Printed report – summary of survey results, which reflects labour market trends. Report includes analysis of compensation policy trends, extensive compensation analysis by job families (e.g. accounting, sales, and engineering) and levels, and detailed compensation-related analysis (e.g. compensation changes, proportions of fixed and variable compensation by job families and levels) for typical jobs in labour market.
Electronic analysis tool – survey results in electronic format providing a detailed compensation analysis in the organization and comparison to the labour market.
Consultant support – Fontes consultants will support on use and interpretation of the survey results, as well will consult on preparation of the necessary data.
Conference – conference for survey participants where Fontes together with macroeconomic experts provides an overview of economic trends and their impact on the labour market, which gives a broader perspective on the compensation data, survey results and forecasts interpretation and use.
Management presentation – Fontes consultants can provide individual presentation to management on organization’s compensation data comparison to labour market providing advice on compensation related issues decision making.
Fontes Compensation Surveys
- General compensation survey
- Top executive compensation survey
- Sector compensation surveys* – pharmaceutical, finance/banking, information and communication technologies, etc.
- Special analysis – compensation data analysis by job families and levels of the company sample of your choice (≥11 organizations)
- Forecast survey
- Management presentations
* Fontes carries out sector surveys if industry association and/or at least 11 organizations participate in the survey.
- Compensation survey does not require any private information (name, personal id, etc.) about jobs in your organization.
- The results of compensation analysis are displayed for the jobs which are present in at least 4 organizations included in the survey sample.
- Any available information in compensation survey’s report is a data summary and analysis of organization submitted information.
- Each survey participant can see only own organization’s compensation comparison to the sector and/or general labour market data.
Organizations can participate in compensation surveys or by one of them by contacting Fontes consultants in Latvia, Lithuania and Estonia, who will offer the most appropriate type of participation.