Improving Human Resources Quality With Salary Survey Report 2021 Data From Talentnet-Mercer
September 21, 2021
In Vietnam, salary survey reports are becoming more and more important. Talentnet-Mercer survey provides comprehensive information on market salaries, bonuses and benefits. Talentnet-Mercer survey is always trusted by global HR professional because of the consistent, accurate and quality data source of the entire compensation package.
Talentnet-Mercer salary survey assists companies in developing and implementing an effective compensation strategy that promotes internal competition and fairness.
What is a salary survey?
Salary surveys are market surveys that are conducted to determine the salaries offered by businesses in the same industry for specific jobs or positions. It provides an overall view of average salaries and salary fluctuations, assisting businesses in determining the appropriate salary for actual needs and developing appropriate compensation strategies.
Salary surveys are typically conducted by organizations with expertise in this field, which includes well-known names doing salary surveys in Vietnam such as Talentnet-Mercer, Navigos, and others. These agencies will collect, analyze, and distribute data from a diverse range of employees across various job occupations, which can be segmented by geography, market region, size, and development orientation of the companies participating in the survey.
What is the significance of a salary survey?
Salary surveys can be used for a variety of purposes, including determining wages and examining competitiveness among the businesses, as well as assuaging worker concerns about fair pay. Salary surveys have different effects for each specific object:
- For businesses:
A business can use a salary survey to determine the market salary trend for each specific job position and then offer a salary structure that is appropriate for its business. The annual monitoring and updating of salary survey result also aid businesses in understanding the market and fluctuations in salary and bonus. As a result, HR professionals can devise reasonable compensation strategies to attract and retain talent, not only making employees happy and emphasizing dedication but also assisting the organization in increasing its competitiveness and efficiency in business development.
- With employees:
Salary surveys assist employees in being fairly acknowledged and evaluated, as well as receiving a salary commensurate with their job position, capacity, and skills. Employees’ earnings are also proportional to their contributions, efforts, and dedication to the company’s business goals.
Improve HR quality with Mercer salary survey report
An effective compensation strategy aids in differentiating the business in the market, attracting talented candidates, and improving the quality of the company’s personnel. So, what exactly is the Mercer method, and how does it operate? In Vietnam, Talentnet-Mercer salary survey has the largest data source of the nation, covering 16 occupation domains, providing the most complete and relevant data to effectively manage the workforce through the comparison of compensation with a simple solution. Meanwhile, Talentnet-Mercer salary survey provides salary data for specific positions in the industry, thereby designing or adjusting the company’s salary structure according to the Mercer salary system, ensuring a competitive level with the market, comparable to the options market quickly and comprehensively. Maintain internal equity in the payment strategy.