The Compensation Analysis Template enables HR teams to evaluate total compensation packages against market midpoints to ensure competitive and equitable pay. It automates the calculation of compa-ratios and provides clear interpretation guidelines to streamline the pay adjustment process.
Included in this resource:
- Employee details, i.e., name, job title, department, and pay components
- Compensation breakdown for each employee, tracking base salary, variable pay percentage, and equity value
- Compa-ratio analysis: Calculating the ratio of base salary and total compensation to the market benchmark
- Adjustment action plan: Determining the specific dollar amount needed and the priority level for raises
- A reference table for understanding compa-ratio results
