How can companies, regardless of size, ensure they're offering competitive compensation? 📈💵 In episode 96 of the Comp and Coffee podcast, Payscale's Gerard Smith shared that the answer lies in leveraging survey data. 📝 There's pretty much a survey out there for any company in any industry. Whether grappling with inflation, low unemployment rates, or the cost of living, companies are encouraged to tap into third-party survey data. This data serves as a strategic tool to align with business goals and maintain a competitive edge in the labor market. Interestingly, smaller organizations are often the ones leading the charge. These proactive companies utilize third-party survey data to effectively manage their workforce and ensure the overall health of their business. Access to comprehensive data isn't just a luxury for large corporations—it's a necessity for all businesses committed to success. By staying informed and proactive, companies of all sizes can navigate the complexities of compensation and thrive in today's competitive environment. Listen to the full episode here: https://lnkd.in/gK_ikFDW #BusinessStrategy #CompensationData #WorkforceManagement
Was great to have Gerard Smith join Ruth Thomas on a recent Comp & Coffee podcast episode!
Helping companies #getpayright - payscale.com/solutions/
2wLove to see this Gerard Smith! I’ve learned so much from your expertise over the years!