Compensation Analytics

Data Collection, Statistical Analysis, and Interpretation

Trends of U.S. Unemployment, Salary Budget, Salary Structure & Inflation

Keystone’s goal is to turn data into information for informed decision making. Analytics provide the foundation of any compensation project. Data for the right competitive market, the right industry and companies of the right size are essential to a successful project.

Our analytical capability includes using published survey data and adding trend analysis which will compare your pay to the market for all jobs in a meaningful way (regression analysis).

The alternative or supplement to using published survey data is to conduct a custom study that will survey a specific issue or group of unique jobs among companies that you name as your competitors (peer group).

Our approach for data collection includes:

Keystone compensation data analytics

 

  • Develop survey instruments to collect information for custom research
  • Validate data and highlight those pieces of data that are out the norm and should be excluded (quality control process)
  • Conduct statistical analysis, trends, graphical summaries, and reporting of results to better explain what the data is saying.

 

Our high-level approach includes the following steps:

  • Develop a good understanding of your needs, objectives, and desired outcomes
  • Create a plan for managing all the resources needed to complete the work
  • Develop survey instruments to collect information for custom research
  • Validate data and run quality control process (computerized and manual data audit)
  • Conduct statistical analysis, trends, graphical summaries, and reporting of results
  • Review outcomes with stakeholders
  • Assist with developing recommendations and making informed decisions based on results
  • Provide ongoing support, further analysis, and interpretations

 

Please contact us with questions or to learn more about our Keystone approach: 612.810.3522.

Keystone’s current compensation surveys.

 

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