Schedule for conducting Compensation survey in Drug manufacturing industry in Hyderabad

Surveys are tools used to determine the average compensation paid to employees. Compensation data, collected from several employers, is analyzed to develop an understanding of the amount of compensation paid. Surveys may focus on one or more job titles, geographic regions, employer size, and or industries. 1) Identify the position for which Compensation survey needs to be conducted. 2) Identify the Drug manufacturing Industries in Hyderabad which have similar roles and responsibilities for the position identified to be surveyed. 3) Decide on types of data to be gathered, This data may include quantifiable aspects of compensation such as: 1. 2. 3. 4. 5. 6. 7. 8. Base salaries Increase percentages or amounts Merit Increases Salary Ranges Starting Salary Incentives/Bonuses Allowances and Benefits Working Hours Surveys may also include non-quantifiable aspects of compensation such as: 1. 2. 3. 4. Educational Requirements Geographic Location Source of Hire (Internal/External) Working Conditions

4) Data can be collected through any specialised survey vendors. 5) Design questionnaire with quantifiable and non quantifiable aspects and administer the survey to the desired parties. 6) There should be minimum number of responses before reporting results 7) Survey data may become outdated quickly hence they should be identified by the year or quarter in which data was collected. -Abhiram Bakaraju

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