Salary.com, Inc., a provider of on-demand compensation and talent management solutions, today announced the release of the Hybrid Job Valuation Report, which enables HR professionals and employers to accurately value blended or hybrid jobs within their organizations to ensure competitive pay packages for non-traditional positions. This product release is an enhancement to the popular Job Valuation Report and leverages functionality available in Salary.comís subscription product CompAnalyst.
Throughout the workforce, many employees hold positions that are actually a combination of two or more job descriptions. For example, in a small company, an office manager may also function as a human resource generalist, as well as an accounts payable specialist. To effectively compete for talent, employers must determine the market rate and weigh the value of each position within the hybrid role based on the percentage of total job responsibility it reflects. Accurately benchmarking each portion of a hybrid job enables an employer to determine a fair salary that reflects the true value of the hybrid job function, thereby offering competitive pay for blended positions.
Salary.comís new Hybrid Job Valuation Report leverages 100% employer reported compensation market data that has been analyzed by a team of Certified Compensation Professionals (CCP).* Each job has been thoroughly researched and validated using the highest standards for data collection, analysis, and validation that are accepted throughout the compensation profession.
Additionally, Salary.com places a value on other compensable factors ñ those traits that are likely to have an impact on how an employer values a specific person as a match for a specific job. Using these traits (e.g., experience, direct reports, education, certifications, etc.), Salary.comís valuation increases or decreases the jobís market pay range to reflect the pay level necessary to attract and retain an employee with those traits.
ìIn todayís workplace, employees are increasingly being asked to wear multiple hats within a single position,î said Joseph Kilmartin, managing director of Salary.com Compensation Consulting. ìBy adding the hybrid market pricing functionality to our popular Job Valuation Report, employers can quickly blend and apply weightings to standard benchmark jobs. This enables the employer to create an accurate market price for a hybrid position in order to ensure they are paying competitively.î
Salary.comís Hybrid Job Valuation Report can be customized to each employerís individual needs based on industry, company size and location. Job Valuation Reports draw from over 3,600 unique benchmark jobs and include data for base pay, total cash compensation, short and long-term incentives and non-cash compensation.
*CCP is a registered trademark of WorldatWork
Salary.comô Launches Industryís First Online Hybrid Job Valuation Tool
Compensation benchmarking solution lets employers blend multiple job roles to get realistic pay levels for hybrid positions
