Salary Analysis
Salary Analysis is the process of examining and evaluating employee compensation within an organization. It involves comparing salaries across different roles, departments, and levels of experience to ensure fairness and competitiveness. This analysis helps identify any disparities and informs decisions about pay adjustments.
Organizations conduct Salary Analysis to attract and retain talent while maintaining budgetary constraints. By understanding market trends and industry standards, companies can align their compensation strategies with employee expectations and economic conditions. This practice ultimately supports a motivated workforce and enhances overall organizational performance.