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Virginia Ready-Mixed Concrete AssociationCompensation Survey

May 19, 2008

Carolyn Fowler, SPHR, CCP, CBP, GRPHR Diversified Solutions, LLC

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Discussion Topics

Why Conduct a Compensation Survey

What the Survey will include

Ensure the Survey will be successful

Sample Project Timeline

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Why Conduct a Customized Survey

•Survey is designed for only your industry – State-wide and industry-specific

•Tailored exactly to industry-specific jobs

•Benefit of membership in VRMCA

•Use when the data cannot be found more economically elsewhere

•Confidentiality of data

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Confidentiality of Data: Survey Safe Harbor Guidelines

•Survey conducted by an independent third party

•Data must be at least 3 months old

•Use at least 5 survey participants

•Results reported so recipients cannot determine specific participant data

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What the Survey will Include

•Participant organization job title

•Scheduled # of hours per week for each job

•# of employees for each matched job

•Salary Range Minimum, Midpoint & Maximum

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What the Survey will Include - Continued

•Hire Rate for matched job

•Average rate all incumbents for matched job

•Pay type (Salaried, Hourly)

•FLSA Classification: Exempt or Nonexempt

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Ensure a Successful Survey

•Secure commitment from VRMCA members to participate

•Participation is critical

•Identify Survey Champion and Survey Committee

•Identify benchmark jobs to include

•Include good robust job descriptions

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Sample Project Timeline

JulySurvey Committee agree on survey contentAugust 1 effective date of participant data

AugustBenchmark job descriptions (JD) developed

September 2Survey deployed electronically by Consultant

September 19Final date to participate in survey

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Sample Project Timeline - Continued

September 22 - October 10Consultant reviews data and contacts participants with questions, data enters information; formats and finalizes survey

October 13 - October 24Draft report reviewed by Survey Champion (summary report only; not raw data). Edits/suggestions returned to Consultant

October 27 - November 7Consultant finalizes survey

November 14 Survey report distributed (at least 3 months after 8/1 effective date)

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Comments and Questions????????

Carolyn J. Fowler, SPHR, CCP, CBP, GRPHR Diversified Solutions, LLCwww.HRDiversifiedSolutions.com