PayMonitor Secrets Revealed 1. How can I see the representation allowance in IT for position classes 46-54? - Customise - Report templates - Standard detail report modify - Select fields: Select only annual base salary and representation allowance. - Select statistics : the frequency count and percent reporting are not interesting (only for eligibility) - Go to my My Templates and run the report Tip! Any time you need a breakdown of a particular element of compensation like, say, eligibility to company cars, meal tickets, medical plan etc. the only report template to use is the Standard Detail Report. 2. How can I compare my company salaries to my industry sector? A good approach would be to prepare a regression graph for your industry sector and then to see your actual median against the regressed market lines (25 th, 50 th, 75 th ). - Run a standard detail report (or any report that does not involve regressions) from the report templates. In the select market section create a peer group. - When the peer group is approved run a report template actual median graph - You could also run the company trendline graph or company trendline scatter graph to have a variation of the same result Tip! The only regressions you can make are on all data all companies, peer groups or you can produce market data by function (job family). In each case you have the option to exclude your company. 3. What % of top management receive LTI? Go to the standard detail report template and modify the template. In select fields pick annual base salary (always a good element of control information) and Eligible for LTI. In the statistics the percent reporting will be useful and this is an eligibility field. Run the template. The approach here is not so different to that in question 1 above. TVA BE 414.908.194 BTW RCB 391.084 HRB OCA 21102 CDV Fortis Banque 210-0059027-06 Fortis Bank ING 310-0496724-73
Page 2 4. How can I compare base salary to a specific market percentile? Modify a report template ( Summary report - comp 1 for base salary perhaps) and select your custom percentile in the select statistics section. It only works for the standard detail report, the quick report and the summary reports (comp 1-5). 5. How can I see how each department is paid against the market? To answer this question, I want to go around the various options that might come to mind before coming to the best way of working this. You could see each department as a separate company by importing the data for one department only in the manage my data function. Just remember that you can only import one department at a time. Then you would progressively add the data to an excel spreadsheet (take the information as a.csv file) and ultimately build up your own graph. It might take you two hours to build up all the database but this is a possibility. If you do this you can get a company trendline (regressed) for each department (subject to adequate data). If you went for the functional table report template, then you were had. This gives market regressions not your company regressions by function (job family). If you want your company regressions by function you would need to, of course, create a company for each separate function. In PayMonitor, the term function is synonymous with department or job family. If run the incumbent vs market report template, it covers all data in your company and references by job title not job code. You could take this as a.csv file and manually move around the data but it is not an easy option and it could lead to mistakes. Note that if you don t modify this template to do comp1 only (or another comp), in the.csv file it puts all comps together for a given incumbent before moving on to the next incumbent. Reference to function that you see in running this template is for market regressions, not for your data. Here is the real answer. Run a summary report comp1 template (or whichever comp). Group by function and position class and select all of the functions (departments) you want. This will give you 2
Page 3 results for all selected departments by position class. You can highlight my positions if you want to limit the data. Use the compare my data functionality and compare to whichever percentile you want. Make the report as a csv. This will ultimately yield an excel file with, by position class, the regressed data and your data. If you selected say three functions, HR, finance and IT using this approach, in the.csv file you will see first information by HR, then by IT, then by finance. By putting the data for all departments side by side you can readily make a graph. This graph will show you regressed market data and your actual median in each department. This route is fairly fast, you can make an actual median graph including all departments separately in just a few minutes. Tip: when you run the summary comp1 template, the grouping by function and position class is essential; a different grouping would present the results in a way that makes it very awkward to analyse by function. 6. How can I get a good market pricing, with enough observations, for a middle management auditor (say PC 55), in a recruitment situation for example? Run the standard detail report template. Group by title and position class Filter on finance. Use the down arrow to 11301. Select 11301 55 - Audit Manager (55) Down arrow again and select 11302 55 Audit Supervisor (55) Down arrow again and select 11303 55 Senior Auditor (55) Tick the box for Combine all selected positions Fill in a name and title when the prompts come in. Select you market in the next section and check the quickcount report. 7. How can I see how each of my three companies compare to the market? Run the actual median graph report template for one company and take the results as a.csv file and save it on your computer. Do the same for the other company (same selections and market) and copy in the relevant column. Apply excel techniques to create your graph. 3
Page 4 8. What if my sector does not have enough data for comparison? You can combine sectors. Hold down the control button when you are selecting sectors in the Select Market section when running a report. However, you need a Peer Group to run a regression. You can make a peer group in the Select Market part when you run any of the first report templates (not in the regressions). 9. All I want to see is, per person, their name, their base salary, their market reference and compa ratio. That s 90% of what I need for my next pay review. How do I do this? Use the Incumbent vs Market report template. If you only need comp1 modify the report template to include only comp1. To select the positions, you can select all data or function. Generally you will want to select all data. If you select function, your data will be compared to the functional (job family) median instead of the regressed median for all data (if you select several functions every job will be compared to the regressed median of every selected function, so be careful to avoid a long report). This report will generate a table with a comparison, by individual, of their pay reference to the market regressed salary. Note that it does not generate a comparison to the reference salary of the individual job match (this is not a feasible option since the detailed approach to a specific job match depends both on the individual job content and on the number of observations available). Make an excel file from the report. If you wish to add back the name you will need a vlookup into another excel file that contains both the name and the same payroll code as was submitted to PayMonitor. If you submitted your questionnaire to Mercer with both payroll code and name, the name will have been deleted in the final file that was processed but you could still use your original file to find back the name. TIPS Modify templates to include only comp1 and comp3 if that is all you need. This avoids miles of data that might not be necessary. Also through modify template you can see if you need the 25 th, 50 th or 75 th percentile. If you are running a complicated.csv file, run the same as a.pdf first to see easily what exactly is in it. 4
Page 5 When you save run files on your computer, make sure that you note exactly what survey you used, what template you ran and what selections you applied. It s ok to find it back on the on-line system for 2 weeks, but not after that. For example, in excel files, add in an extra sheet mentioning the selections. When you make market selections that apparently contradict, such as All data and PeerGroup, delete the selection you do not need. If you take a download of a report into a.csv file but it opens as gobbledegook in excel, it is sufficient to follow this procedure once only. Start Control Panel Regional and Language Options Customize Make sure that the decimal symbol is a point, the digit grouping symbol is a comma and the list separator is a comma. If you want the data from a graph in an excel sheet, it is always an option to run the graph and download as a.csv. There is usually more complete information available in the excel sheet if you run the equivalent table instead of the graph. Version 23/11/2004 5