Research the Competition When Formulating a Compensation Plan

January 2, 2008
TIP OF THE WEEK

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If you do not know what a "normal" compensation package is in your industry, you have no point of reference about what to offer. You might be offering too much or not enough. Both extremes will end up costing you money. Many organizations perform salary surveys, including chambers of commerce, business associations and other agencies. Another useful way to better gauge industry standards is to call respected recruiters and tap into their knowledge. A good recruiter who knows their industry should be able to offer this information to you with ease. Find out what constitutes a typical compensation package, and craft yours accordingly.

This week's tip contributed by Carlyn Burns, president of Prolyn Executive Search, striving to deliver the best in high-value, quality and efficient recruitment services exclusively in the window and door industry, nationwide.

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Contact Carlyn at ceb@prolyn.net, or 866/566-2372.