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Hay Compensation Report, Bulgarian Market 2006. Overview. Introduction Main points of our approach Key areas for discussion. Introduction. Why this Bulgarian Database and Analysis ?. Need to know and understand the Bulgarian compensation and benefits trends.
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Overview • Introduction • Main points of our approach • Key areas for discussion
Why this Bulgarian Database and Analysis ? • Need to know and understand the Bulgarian compensation and benefits trends. • Need for faster and easier tools. • Need for comparison of a specific family. • Need to interpret data and add value, not just process data.
We are not alone... • Reward Information Services Department is an “independent” part of Hay Group and works as a virtual team with an enormous database from all over the World.
We are not alone… We are providing Reward Information Services in more than 50 countries all over the World
We are not alone… As a result of that: • Several organisations and companies work with Hay on an international and some on a national level. • European Consumer Sector Survey is taking place for second year in Bulgaria • Global Pharmaceutical Sector Survey initiative being discussed for 2006. • Banking Sector Survey • Hay in United States of America works with 2049 companies. • In United Kingdom we are including in our database 985 companies. • Hay Canada deals with 456 companies. • French department contacted last year 371 organisations whereas Brazilian participating companies were 305. • Greek Survey included 111 companies and organisations • Bulgarian Survey target 100 companies for 2007
Participants Targeted for the Global Investment Sector Survey
Bulgarian Report Content Participating organisations 2005
Bulgarian Report Content Bulgarian Market Lines: Company Feedback
Bulgarian Report Content Bulgarian Market Lines: Base Salary
Bulgarian Report Content Bulgarian Market Lines: Total Cash
Bulgarian Report Content Bulgarian Market Lines: Company Feedback
Bulgarian Report Content Bulgarian Market Lines: Benefits
We are faster… • Hay Remuneration Assistant Software (HRA): • An essential tool that supports your day to day salary management. • Helps you to: • Diagnose your company salary practice. • Find instances of incoherence in your current salary practice. • Simulate new remuneration policies. • Evaluate the outcomes of new grading solutions. • Evaluate the impact of day to day salary decisions on your overall population.
We are faster… • Interactive market pricing service (Hay PayNet) is available for more than 51 countries.
We are accurate… Valuation Methodologies • Actual cost • Exchanging cash and benefits (marginal cost) • Comparing operating costs • Employee’s perceived value • Comparing alternative benefit designs • Employee’s cost to provide the same benefit • Standardized cost to employer • Comparing competitiveness of benefit design • Comparing competitiveness of total remuneration size
We are accurate… Output Examples
Method - Stage 1 We are accurate… • Research • Confirm with clients final survey coverage (jobs, participants, countries, issues)
We are accurate… • Job mapping: using reference internationally accepted job descriptions • Can cover sector specific jobs as well as non sector specific jobs (Accounts, HR, IT, Secretaries, Clerks)
Benchmarking on what? • Base Salary, Total Cash (General and functional analysis) • Bonus : target and actual paid last year • Benefits • company car, • pensions, • life insurance, • disability,… • Valuation of the cost of the company cars provided. • Company Feedback included further comparisons and comments. • Job Dictionary Tool.
