1 Virginia Ready-Mixed Concrete Association Compensation Survey May 19, 2008 Carolyn Fowler, SPHR, CCP, CBP, GRP HR Diversified Solutions, LLC

2 Discussion Topics Why Conduct a Compensation Survey What the Survey will include Ensure the Survey will be successful Sample Project Timeline

3 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

4 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

5 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

6 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

7 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

8 Sample Project Timeline July Survey Committee agree on survey content August 1 effective date of participant data August Benchmark job descriptions (JD) developed September 2 Survey deployed electronically by Consultant September 19 Final date to participate in survey

9 Sample Project Timeline - Continued September 22 - October 10 Consultant reviews data and contacts participants with questions, data enters information; formats and finalizes survey October 13 - October 24 Draft report reviewed by Survey Champion (summary report only; not raw data). Edits/suggestions returned to Consultant October 27 - November 7 Consultant finalizes survey November 14 Survey report distributed (at least 3 months after 8/1 effective date)

10 Comments and Questions ???????? Carolyn J. Fowler, SPHR, CCP, CBP, GRP HR Diversified Solutions, LLC