Total Rewards offerings (which includes compensation and benefits and a host of other components) need to be competitive to maintain an engaged workforce. At the foundation, competitive base pay and benefits are essential to attract and retain the talent needed to support an organization to thrive especially during this season of low unemployment.
Employee job satisfaction and engagement begins with competitive pay. Without competitive base pay, other benefits have less of an impact towards an applicant deciding to apply for a position at an organization or an employee’s decision to stay or leave the organization.
Market pricing is the formal process for determining the external value of jobs and has become the most commonly used method to develop and support compensation structures. The process is based primarily on external factors with the goal of being market competitive. Accurate and timely review of market data is the key to maintaining the right balance between paying too little and paying too much. The Council provides that valuable resource through our salary surveys.
Accurate, relevant and timely survey results help support an organization’s efforts to remain competitive and Hawaii Employers Council has been providing surveys focused on the Hawaii market throughout the past 75 years.
HEC collects pay and benefit information directly from the human resources team of participating organizations, resulting in reliable data that helps build your confidence when making business decisions.
Find out more about the Council’s survey resources: