Monthly HR Compensation & Benefits Review

Track and analyze key compensation metrics, benefits utilization, and cost trends to ensure competitive pay practices, monitor benefits effectiveness, and manage personnel costs while maintaining employee satisfaction.

Report Objective

Monitor and analyze monthly compensation metrics, benefits utilization, and related costs to ensure market competitiveness, maintain internal equity, track benefits program effectiveness, and identify opportunities for optimization while supporting employee satisfaction and retention goals.

Compensation Structure Analysis

Line and bar charts showing salary distributions and pay ranges by job level

Questions to Consider:

EntryMidSeniorLeadExecutivejob_level$0$500,000$1,000,000$1,500,000$2,000,000$2,500,000sum(salary_midpoint)How do salary ranges vary across job levels?Senior and Executive levels show widest salary ranges, with Engineering commandinghighest midpoints

  • Which departments show the highest variance from overall medians?

  • Are there any concerning compression issues between levels?

  • How do ranges compare to market benchmarks?

  • Which departments show the most variance in compa-ratios?

  • Are there any concerning patterns in specific job levels?

  • How many employees fall outside target ranges?

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Benefits Utilization and Costs

Bar charts and tables showing benefits enrollment and cost trends

Questions to Consider:

HealthDentalVision401kLifeWellnessbenefit_type0%500%1000%sum(enrollment_rate)How are benefit program enrollment rates trending?Health and 401k show highest participation, wellness programs lowest

  • Which benefits show significant changes in enrollment?

  • Are there opportunities to increase participation in underutilized programs?

  • How do rates compare to industry benchmarks?

  • Which benefits show the highest cost variance?

  • Are there any unexpected cost trends?

  • How do costs align with utilization rates?

HealthDentalVision401kLifeWellnessbenefit_type$0$2,000$4,000$6,000sum(cost_per_employee)What are the per-employee benefit costs by program?Health insurance remains highest cost benefit, followed by 401k matching

Compensation Budget and Forecasting

Line charts showing budget tracking and projected costs

Questions to Consider:

Feb 2024Mar 2024Apr 2024month$960,000$980,000$1,000,000$1,020,000$1,040,000actual_spendHow are we tracking against compensation budget?Current spend tracking slightly above budget but within acceptable range

  • What is driving any variance from budget?

  • Are there any concerning trends in specific cost categories?

  • How do projections look for remainder of year?

  • Which months show largest budget variances?

  • Are there seasonal patterns in spending?

  • What adjustments are needed for future planning?

Feb 2024Mar 2024Apr 2024month$0$200,000$400,000$600,000$800,000$1,000,000budgetMonthly Budget vs Actual Compensation SpendVariances remain within 5% tolerance across most months