Leveraging OrgChart for Effective Salary Benchmarking and Compensation Management

With job wages rising in the order of 3 percent in the U.S. in 2018, compensation is a variable the HR professional must be attentive to retain the best talent. Compensation is the major cost item for most companies and demands careful consideration, especially in today’s competitive job seeker market. Getting the salary offering right is crucial for recruiting the best people. OrgChart simplifies this process by offering custom metrics and lookup tables to effectively analyze current compensation and conduct salary benchmarking.

Enhancing Salary and Headcount Rollup with OrgChart

Understanding your organization’s salary and headcount rollup is essential for managing costs effectively. OrgChart allows you to create custom formulas that simplify this process by totaling employee salary costs by the entire organization, business unit, division, or department.

The rise of contractor/third party workers from 10.1 to 15.8 percent over the 2005-2015 period in the U.S., and a recent poll showing that one in every five employees is a contract worker, underscores the significance of the full-time employee/contractor split on overall salary calculations. OrgChart facilitates this analysis by enabling HR professionals to separate full-time employee and contractor totals. Salary and Headcount Rollup form the basis of many other reports and calculations, such as Cost to Manage, Performance to Budget, and Product Line Profitability.

Average Salary Metric and Comparative Analysis

OrgChart allows you to easily create metrics that average salaries by certain demographics, allowing meaningful comparisons of employees who work for different groups or locations throughout the organization. It simplifies the analysis of comparative salaries across other regions and business units, so that you can make data-driven decisions surrounding salary changes. This is also a stepping stone to more sophisticated statistical analyses of wages, such as their range and standard deviation, relevant to all organizations.

OrgChart provides a visual presentation of crucial headcount and salary data points. These are a clear starting point for a more in-depth analysis of this essential organizational metric.

Begin Your OrgChart Journey Today

Unleash the power of effective salary benchmarking and compensation management with OrgChart. Join the ranks of HR professionals who are making data-driven decisions to elevate their organizations to new heights. Don’t let the complexities of managing salaries and headcounts hinder your progress. Visualize your organization, gain valuable talent insights, and facilitate workforce planning like never before.

See your organization in a new light and discover how to optimize and future-proof your workforce with OrgChart. Harness the power of visuality, scale, and intuitive design built specifically with HR professionals in mind.

Improve your compensation strategies, enhance your salary benchmarking, and excel in your HR role with OrgChart. Request a quote today to get started on your OrgChart journey.

Unlock the potential of your organization with OrgChart. There’s a world of insight waiting for you!