Inspiring HR is excited to launch Pay Range Market Research, a new service designed to assist in determining the current market pay for job positions.
Inspiring HR adds pay range market research services to existing offerings
Recently, a client encountered difficulty finding quality talent for a mid-level individual contributor operations position. The previous incumbent wrote the posting during their two-week resignation period, and the client found few qualified applicants despite what he was reading about an employer-friendly job market.
After some discussion, the client asked his Inspiring HR consultant about the job market and agreed to revamp the job description to attract larger talent pools, along with pay range market research to re-invigorate his efforts to find attract and retain quality talent.
Our human resources consulting team reviewed the position’s primary duties and then:
- Wrote an easy-to-understand job description.
- Rewrote the posting to include references of existing company benefits and highlight the company’s flexible and collaborative culture.
- Conducted pay range market research to give insight into the compensation of similar positions in the broader market.
While we have written compliant job descriptions and engaging job postings for years, Inspiring HR is proud to introduce this new service, designed to provide employers with a quick pulse of the market compensation for a particular job and to help them establish salary and pay ranges.
Our service includes:
- A review of current openings to determine the current “market price” for each position (this is much quicker than a full market survey).
- Recommendations of what title will attract the most suitable candidates.
This service is available with job description and recruitment outsourcing services. Some companies opt for our recruiting outsourcing assistance, where our consultants place the job advertisement, screen applicants, and provide in-person interview question recommendations to ensure a successful placement.
We are happy to report that after reviewing our consultant’s input, the client posted the open position with a revamped description, title, and mention of a potential bonus that was aligned with the current market. The result was a more robust applicant pool and a successful placement. Talk with your Inspiring HR consultant today to ensure your new posting is as competitive as possible!
This article does not constitute legal advice and there are subtle variations in employment law as it pertains to this topic, depending on where your business operates. It is strongly suggested that you seek consultation or legal counsel before making decisions about policies.