Salary Survey Participation Letter

Letter to other company regarding salary survey participation.

Salary Survey Participation Letter

The salary surveys can be considered as great compensation and benefits benchmarking tool. Conducting salary survey is crucial for setting right compensation strategy and monitoring the desired pay market. The process involves the collection of compensation information and salary details about the individuals. The provided information and data will be matched, and feedback is given to the participating organizations at the end. The salary survey process should be based on the proper job evaluation methodology. The fundamental structure of a salary survey involves comparison, study or analysis of job and salaries across the industry.

What do salary surveys contain?

A salary survey is a standard approach to figure out what other companies are paying for specific jobs or job classes. Especially you get to know the prevailing pay rates and benefits of the large organizations. It will not only give a clear picture of the low, high and average salaries for a specific profile but also give a view of what other organizations are paying.

What to include in the letter?

Planning to conduct a salary survey to measure the competitiveness of the market?  First of all, you need to invite other companies to participate in the survey. A formal letter regarding participation in the salary survey is the right approach to start the process. Begin the letter with informing the company that you are conducting a salary survey and want them to participate in it. Provide the date of the survey, and the details need to be filled in the form.

Key Points

  • Name of the Company
  • Date
  • Purpose of the survey
  • Required details

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