We would like to offer several one-hour DBCompensation Software training/refresher sessions for our current clients and users, as well as any potential new clients. If you are interested, please email Blair or Bruce to receive a GoToMeeting invitation for the training sessions. There will be several sessions: 9 am and 3 pm on Thursday, February 27 and 9 am on Friday, February 28.
We currently are planning on attending two conferences in the near future:
Bruce and Blair Johanson will be at theAR SHRM State Conference In Fort Smith April 9th-11th.
The Principals of DBSquared will demonstrate the DBCompensation software at the WorldatWork conference in Dallas later this year. We're excited about this opportunity and we look forward to sharing an ROI summary for our compensation management software that has valued well over 7,000 job titles and provided compensation structure and employee pay analysis for more than 100,000 employees. Come by our WorldatWork vendor booth and sign-up for our software demonstration session.
WorldatWork Total Rewards Conference & Exhibition 2014 May 19-21, 2014 * Dallas, TX Booth 202.
A recent question on a LinkedIn Compensation Group created a flurry of responses from seasoned compensation professionals. The regular blogger asked, "Job Evaluation, Underused or Overcooked?" One of the seasoned compensation professionals stated that job values should be determined by equally subjective judgments while others made cases for pure market pricing, internal job valuing systems (ranking or point/factor) and/or a combination of internal and external job worth processes. Since the question implies job valuing or job worth, I thought it would be good to share a previous blog entry on Job Worth.
Are you worth more or less than average? The context happened to also pose a potential gender aspect as well, but let's see if I can refrain from getting into too much trouble today. Shouldn't the question we always seek to answer be, "What am I worth?"
Finding the answer demands the poser to consider the context. In the above-mentioned piece our heroine did her research and determined the average salary for her position, and then compared herself to that. I have two additional questions: how did she determine that the average was indeed the average for her particular situation, and how did she determine where she stood relative to the "average"?
Determining absolute or relevant worth requires that one can establish an appropriate benchmark and is able to assess themselves against consistent standard criteria. Worth inevitably is equated with salary. To that end, market studies are continually evaluated to determine average, minimum and maximum salary ranges. But the "average" salary for an accountant in Arkansas may be significantly different than one for an accountant in California. Furthermore, the timing of the survey and the underlying job description for the title accountant may also be significantly different. In addition, we have observed significant swings in pay averages by job title from one year to the next year.
Data is good, information is better, and context is everything! If the so-called average salary for a position is defined in the terms of the context in which it was determined (region, date, industry vertical, company size, etc.), and the specific job description can be evaluated for its relative worth to the organization, then and only then, can somebody be reasonably assured that they can assess their worth in the only appropriate context, that is your company.
By all means, research what similar firms pay people in similar situations, but insist that your company determine the relative value of a position based on an accepted and proven methodology which allows sound, valid and informed compensation decision-making. Once you're satisfied with your external pay research and the company's efforts to develop and implement a fair job valuing system, then ask for a variable incentive pay or bonus program that rewards high performing employees since merit programs lack the funding to differentiate and drive company and individual performance goals.
Want to keep up with what is happening at DBSquared?
Contact us to schedule an online demo that will allow you to see the DBCompensation application. We would be happy to answer any questions that you may have and to tell you more about our Total Solution.