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Chetna Gogia
05/25/2023, 12:45 PM@Nivi Mandappa - There are many factors which you consider in Comp benchmarking one which level u want your company to be at P50, P75 or above. Then how are you diving the comp Total comp with benefits or only Fixed and Bonus.
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Amardeep Agnihotri
05/25/2023, 12:53 PM👍
Apart from what @Chetna Gogia has mentioned ,we need take care of these pointers when we present new salary range to the management
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Nivi Mandappa
05/25/2023, 1:18 PM@Amardeep Agnihotri what pointers are you mentioning?
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Amardeep Agnihotri
05/25/2023, 1:25 PMMarket Research, Internal Equity, Performance Evaluation, Skill and Experience Levels, Cost of Living
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Nivi Mandappa
05/25/2023, 1:30 PMGot it. Thank you very much !
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Sharthok Chakraborty
05/25/2023, 1:39 PM@Nivi Mandappa Apart from all the great points mentioned here, when I was an HRBP, one area where I felt heavy pushback while suggesting a salary restructuring was "Why is it necessary?"
Data points to consider over here are (you might have done them already):
Rate of attrition - if there's a visible spike with tangible evidence of people leaving for higher pay, your case becomes easier
Comparison with P50 like @Chetna Gogia mentioned
Impact of people leaving - certain business leaders immediately get it when you show them an apple to apple comparison (in this case impact of new salaries visavis revenue or any other metric)
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Nivi Mandappa
05/25/2023, 5:16 PMYes I agree with the apply to Apple comparisions. Which is something I have trouble in explaining too to the business leaders. Thank you very much for all your data points
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