PayWell

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New year of PayWell and HR Controlling 2013

Take a part in our remuneration study. PayWell, and our benchmarking study, HR Controlling, and get a valuable tool that can assist you in human capital management within your organisation.

PayWell is a remuneration study with the largest sector-orientated database, which offers an up-to date overview of salaries and benefits  in the Slovak market. The PayWell study is being introduced in Slovakia for the 21st time this year.

HR Controlling – a strategic tool for the effective management of human capital. The study celebrates its 10th anniversary in Slovakia this year. HR Controlling enables the monitoring of the link between the effectiveness of the HRM system, a company’s financial results, and its overall productivity. Companies participating in the HR Controlling study will be assessed in the second year of the Leading HR Organisation award.

A remuneration system that is properly set is an essential element for motivating employees and making the company attractive for potential job applicants. The interactive PayWell study – a tool for remuneration planning – gives an actual overview of the situation in remuneration on the market, including information and trends relating to HR policy and strategy.

PayWell is a regular remuneration study prepared by PwC. It maps trends in the development of basic and total salaries and employee benefits provided in almost 500 job positions. 

Participants in the survey classify job positions in their company according to a job position catalogue, which contains descriptions of standard and sector-specific job positions. We prepare the catalogue together with participants in the survey, and update it every year. The comparability of job positions is ensured by using the Integrating Factor Analysis (IFA) method, which allows individual positions to be objectively assessed and subsequently classified (JOSS levels), depending on a point evaluation, based on factors such as expertise, responsibility, self-activity, and working conditions.

PayWell outputs are available on line as well as on a CD ROM in both Slovak and English. The complete output contains:

  • JobPage – a well-arranged analysis of wages and salaries for the given position laid out on a single A4 sheet. It allows one to gain a comprehensive overview of how individual job positions are remunerated.
  • Individual comparison – a tool allowing interactive comparison of salary information with market data and its modification, if needed.
  • Report on employee benefits – clearly arranged (as to the contents and graphics) analyses provide an overview of employee benefits provided on the Slovak market, by sector and job categories.
  • Individual comparison of provided benefits - comparison of the provided benefits package in your company with the whole market and sector
  • Materials dealing with the current labour law.
  • Job position catalogues, together with job descriptions.
  • Appendices – current trends in managing human capital.

PayWell sample outputs:

The survey outputs are an important tool for effective remuneration planning in companies striving to succeed in the competition for recruiting, retaining, and motivating high-quality staff. They are also helpful in reviewing the remuneration strategy (including the classification of job positions), the preparation of the budget for staff costs, the set-up of the salary structure and salary levels, the identification of in-kind incentives, the proposed solutions for tax optimization, or the link between remuneration and evaluation of employee performance. The PayWell study allows salaries in all standard and sector-related positions analysed to be compared. It is an excellent aid for modelling the remuneration strategy in the firm.

Information from the PayWell remuneration survey allows you to understand and plan the position of your company on the labour market by individual positions and level of complexity.