Compensation surveys are tools used by organizations to gather data on employee salaries and benefits within a specific industry or region. These surveys help companies understand how their compensation packages compare to those of similar organizations, ensuring they remain competitive in attracting and retaining talent. Typically conducted by HR consulting firms or industry associations, compensation surveys collect information from various employers about their pay structures, bonuses, and other incentives. The results provide valuable insights that can guide human resources decisions and help organizations align their compensation strategies with market trends.