A recent survey shows that individuals who set pay make higher salaries themselves. Yet only 49% of HR leaders take charge of compensation structures and pay grades in their organisations.
It is quite typical for the HR function to commence as part of the finance function, not least because that is where payroll invariably rests. But as HR “comes of age” it needs to fight its own corner and above all in setting pay levels. HR is the natural place for that responsibility to sit: attracting talent, ensuring retention of key employees, balancing contribution to the organisation with reward for individuals, maintaining wellbeing and engagement.
It is data and information that convinces owners and chief executives. In turn this develops their confidence in HR. They know that they are being guided to the best pay decisions. It is so important, therefore, that HR managers, and those who should be setting pay levels have access to credible, relevant, focussed information on pay and from a database of significant size.
It is why Employer Solutions has a licence to access such a database.
And why, if you value your own pay grade, you need access too.