Subadhra Sriram's Blog

Are You Paying Right?

People have been paid salaries since the Neolithic Revolution.  You’d think we would have got the salary phenomenon figured out by now.

Much has been said about salary negotiations, benchmarking etc., but managers and workers still dread those salary conversations.  So how do you know whether you are paid right or paying right? How do you know the pay that contingent worker is demanding is fair? To help with those kinds of questions, Staffing Industry Analysts recently investigated a few free salary and wage information online sources to see which were easy to use and produced reliable information.

To name a few, Payscale.com and Salary.com were both user friendly and offered detailed information. Of course, some data sources are better than others for specific things. For example, don’t go to the Bureau of Labor Statistics for IT data—they still lump the great variety of javascript, C++, Ruby on Rails, etc. programmers into just “programmers”. However, if you want information on blue-collar jobs, the BLS has those in detail by the hundreds.

Of course if you are willing to pay, there are more sources available.  Price notwithstanding, the biggest criteria to choose a data source is to understand what information you is looking for.  Some sites are better for certain type of jobs than others.  For example, Glassdoor.com was the only source to offer pay rate data by occupation for specific companies and is therefore valuable while Indeed.com has historical wage data and the greatest breadth of job titles.

At the end of the day, it’s important for companies to pay their workers the right amount of money. Haggling about pay could mean the loss of a good motivated worker. On the other hand, you don’t want to be overpaying your contingents. While these data sources are based on W-2 workers, in the absence of better information the data given is at least a starting point for estimating the right contingent pay, and getting pay right could mean the difference between maintaining your competitive edge—and losing out to more wage-savvy competitors. 

Comments

Add New Comment

Post comment

NOTE: Links will not be clickable.
Security text:*

Recent Blog Posts

Who’s Wading in the Stream?

 Our guest blogging site, The Staffing Stream, was built on the idea of getting the different factions in the industry — buyers, suppliers, VMS, MSPs and tech vendors — to talk. And talking they... Read More

When Picketers are Temps

Temp worker flexibility has been stretched to a whole new level.  Here’s how it goes down.

There’s a strike to protest a lack of benefits. Union A hires temps to dissent alongside picketing union... Read More

SOW: It’s Here, There and Everywhere

If buyers love it, can staffing firms be far behind? No, I am not talking about customers’ appetite for cutting costs, but rather the fascination with anything SOW — statement of work consultants.

This... Read More

Source Smart: The Deck is Stacked in favor of the “Skilled” Worker

We’ve all heard the stories about how hard it is to get talent and how there’s a war raging for these qualified professionals. The take-away from this is the word qualified. Qualified professionals... Read More

Healthcare Industry Evolution Is Good News for All

So much is still being said about the Affordable Care Act that people are glazing over some important realities.

In 2014, 13 million more people under the age of 65 are becoming insured. And by 2023 that... Read More

Have Cool Website, Will Attract Talent

A recent Staffing Industry Analysts report revealed that, on average, staffing firm management gave their websites a grade of just 5.6/10. That’s a C. But some websites outperformed, and we learned something... Read More

Buyers Beware: You Can’t Avoid ACA Costs

Who’s on the hook for bearing the additional costs of healthcare reform? Buyers and suppliers see the ACA price saga unfolding quite differently.

Buyers of staffing services assert that they are not going... Read More

Our 2013 Staffing Heroes

I would like to draw your attention to the Staffing 100 2013 list.

Our annual list of industry dynamos is a guide to those who shape the growing $134 billion staffing industry. They are our movers and shakers,... Read More

Staffing Industry Alive and Kicking

A decade ago, the U.S. staffing industry was projected to boom pretty much without end. Fantastic long-term growth was projected and an ever increasing share of U.S. employment was expected to be managed... Read More