Every business entity which employs numerous employees needs to pay them their due, i.e. the salary, perquisites, intangible benefits, to name a few. Very often we have come across instances where an employee complains about low wages to his fellow friend who holds the same job profile in a different business establishment. This disparity can lead to unhappiness in the working class and can trigger problems in explosive proportions for the functioning of the company. Therefore, different business concerns in the same industry often take refuge to salary survey. The fact that the parameters of the survey remain the same, it succeeds in reflecting a representative survey results.
Salary survey simply plays the role of a medium through which the individual constituents of the same industry get to know the ground reality. They benefit with this information since it helps them determine the wages, salary, perquisites etc at par with their counterpart in the same industry.
It achieves its twin goal. The working class is happy, doesn’t feel being cheated and taken for a ride. And the business concern becomes least assured of steady and smooth flow of work without any disruption owing to employee agitation. It also clearly knows, when the employees are happy, the productivity of work will also get maximized.