Surveys, such as compensation and executive compensation surveys, are strategically designed to gather data, which is then assessed and distributed to the appropriate audiences. Surveys are an excellent tool for companies as the data compiled by various survey methodologies can be used to help make more sound business decisions.
The following is a list of the four evaluation models that are commonly used to provide structure to a survey:
- Scientific-Experimental. This type of evaluation is historically one of the most popular methods used to collect and assess data. The methods for this evaluation are drawn from science, which is seen as accurate and objective. Compensation surveys and executive compensation surveys are often designed using this model, and are able to provide companies with salary reports that help them make important decisions in regards to their business operations.
- Management-Oriented Systems. This type of evaluation usually works best in governmental or business organizations that complete a wide variety of activities. The two most common models include the Program Evaluation and Review Technique (PERT) and the Critical Path Method (CPM). These models allow for a broad scale study that can encompass multiple departments throughout an organization. Many salary reports have been developed using compensation surveys and executive compensation surveys designed in the management-oriented systems model.
- Qualitative. With these models, surveys are designed using a more subjective approach that focuses purely on observation. After collecting these observations, it is then taken and evaluated using human interpretation and opinion. While this model may be beneficial for some subjects, it is not one typically used for compensation surveys or executive compensation surveys, which require more quantitative, objective data for review.
- Participant Oriented. Like the qualitative model, participant-oriented models are also designed using a more subjective approach. With this model, evaluation participants are the main focus of the study. This type of study is typically performed by companies that make products for the broad based consumer market, so surveys, such as compensation surveys or executive compensation surveys, are not developed in the participant oriented model.
Evaluators that work for a specific industry typically know what type of evaluation will work best to receive the data that is needed. Some draw from all four of the models while others stick to one or two. When it comes to salary and compensation surveys, more scientific, quantitative methods, such as the scientific-experimental model and management-oriented systems model, are required.
At WageWatch, our expert evaluators use the proper methods to develop effective salary and compensation surveys for a large variety of industries across the country for use by associations, human resource departments, employers and more. The data that we provide helps companies to plan their budgets and create employee payment, recognition and benefits plans that are competitive with others in the industry. For more information on compensation surveys and salary reports, please call WageWatch today at 888-330-9243 or contact us online.