Compensation Analysis is a tool both for comparing the value of corporate roles with those of other organizations and for relating the skills required by the position to those actually demonstrated by the person.
It also allows you to Evaluate pay grading policies based on the importance of job positions, in order to define a consistency of the organizational structure from a qualitative point of view.
The phases of the intervention are:
- Business needs analysis
This phase is preparatory to the implementation of the intervention and aims to frame the company's needs and define the details of the process to be activated.
- Business context analysis
Description of the context of analysis useful for framing the Company and comparing it with similar contexts.
- Position analysis
Identification of the main characteristics and specific elements of the position in order to contextualize it and understand the peculiarities it takes on in the company.
- Job evaluation
Through job evaluation, a value is assigned to the position.
- Pay range assignment
During this phase, the assigned score is translated into a benchmark Salary Range.
- Assessment of internal consistency
The framework obtained through the previous steps allows for an assessment of the consistency of the Company's compensation policies both in relation to the labor market and internally.
- Performance evaluation
During this phase, lìadequacy of the Position Holder's compensation is assessed by comparing the Target Profile and the value of actual performance.
- Conclusions
The process ends with the communication of the outcomes and the proposal of operational suggestions to the Company.