What Sources Do Most Employers Use To Benchmark Compensation
Common choices of salary data sources include Mercer, Willis Towers Watson, Kenexa, CompAnalyst, ERI, and Aon Hewitt.
Local, state, and industry-specific surveys are also used, particularly in organizations with fewer than 200 employees.
What Major Challenges Did You Face During Your Last Role How Did You Manage
Your interviewer wants to know the significant difficulties that you came across in your previous role. Talk about the challenges that you faced and how you manage them.
In my previous role, manual compensation plans and compensation processing were one of the major challenges I encountered while working. As we all know, manual payment processing requires no upfront investment in technology in terms of software and electronic systems. You are just allowed to use a calculator in this type of processing. In the process, you are exposed to a lot of errors while keying in data and information. To curb this, I had to be very careful and spend more time cross-checking if my work was okay and fair to all the employees.
Please Give Me Some Examples Of Wage Setting Projects That You Have Been A Part Of
How to Answer
As a Compensation Manager, your interviewer is looking to determine your experience and expertise in compensation analysis. Specifically for this question, they are looking to hear that you’ve been part of a wage setting project where you had to diagnose an issue, conduct thorough research and work to set the best possible wage for a particular job or career set.
Written by Amy Hagan on September 13th, 2021
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Tell Me About Yourself
In polling hundreds of different companies & HR departments, this is by far one of the most frequently asked questions in any job interview. Your interviewer will use this as an icebreaker, ideally to put you at ease and get you speaking openly and honestly.
While you definitely want to be prepared for this question, you certainly dont want to make your answer sound memorized. Keep in mind, while this question may sound like an invitation to share your life story, you can be assured your interviewer has very little interest in hearing about everything youve ever done.
The person giving the interview has a job to do as well respect their time. Unless you are asked about something specific, focus on your education, your work history, relatable hobbies and outside interests, as well as your current situation.
Be sure to start chronologically and tell a linear story. Start where you feel is sensical, then work your way up to the present.
The Best Way To Answer Salary Interview Questions
One of the most difficult questions to be asked during a job interview is the salary expectation question, especially in a competitive and ever-evolving field like the life sciences.
During a job interview, this question is likely to be asked at some point. So, its essential to be ready for it. The way you respond to the question may affect how well you do in the interview.
Use this guide to explore the best way to answer salary interview questions in your life sciences interview.
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I Dont Expect You To Go Into Too Much Detail But Why Are You Leaving Your Last Job
An innocent question. But a question that if answered improperly, can be a deal breaker. While many individuals will be looking to a new job as a means of increasing their salary, not being paid well enough at your last job is not something you want to mention to your interviewer. After all, are you not likely to leave this particular job if you found you could make more down the street?
If youre currently employed and leaving of your own accord, craft your response around enhancing your career development and a seeking out of new challenges.
If your current employer is downsizing, be honest about it, remain positive, but keep it brief. If your employer fired you or let you go for cause, be prepared to give a brief but honest reply. No matter how tempting it may be, or how unfair it was that they let you go steer clear away from any and all drama and negativity. Any experienced employer understands that sometimes things happen. Staying positive is key here.
What The Employer Wants To Know
This is probably the most common interview question. Its often the first to be asked and, because its an open question, its a tough one to answer.
An employer will have developed an impression of you from your CV and cover letter. Your answer to this question quickly helps them determine the accuracy of that impression. It also gives them an opportunity to observe your levels of confidence and composure, through your voice and body language.
What I generally look for is someone who is at ease with themselves, says Claude Littner, business leader and star of The Apprentice. Littner believes if youre calm and confident at the interview, youll probably be a good person to work with.
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Im Curious How Did You Come To Find Out About Our Company And What Do You Know About Us
This can be a great way to stand out from other applicants and demonstrate initiative. Almost every company will have a website, Facebook page, Instagram account, or some sort of digital footprint. Spend a bit of time doing some online research:
- If they have a website, check out their About us or Culture/Mission/Vision pages.
- Who are some of the principal people who work there? Who are the founders?
- What sorts of things does this company care about? Do they donate to a particular cause or charity? Which one?
- What are their core values? Which of their core values resonate with you?
- Has the company been in the news recently or have they won any awards .
While your interviewer wont expect you to have in-depth company history, a little here can go a long way.
What Is Oracle Business Intelligence Publisher And What Is It Used For
The interviewer is testing your knowledge of the software you are supposed to use as a compensation analyst.
This is a reporting solution to author, manage, and deliver all your reports and documents easier and faster than traditional reporting tools. In this industry, it is used to prepare results and reports concerning employees compensation plans.
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How Would You Cope
The interviewer is asking you how you would manage to work under pressure in your role. Talk about the strategies that you would put in place to ensure you work as expected, even if under pressure.
In this industry, too much pressure is expected to be experienced, especially when the pay dates are approaching, and there are a lot of changes that have to be made. It has happened to me before. All I had to do was close work with my team and schedule each member of the team activities that they should perform. In this situation, you have to work in teams to deliver in time.
Mistakes To Avoid In Your Salary Expectations Answer
What are your salary expectations? seems like an innocent question. It makes sense that potential employers would want to know a ballpark figure for your expectations, right?
Not so fast. Be aware that candidly stating your salary expectations too early in the interview process can lead to problems.
- Mistake #1: Talking about it too early
Early on, the company isnt necessarily sold on you just yet. Theyre still feeling you out and comparing you with other candidates. Youll have better leverage to negotiate later, so it serves you best to avoid mentioning a specific number too early.
- Mistake #2: Setting the desired salary too low
You may be tempted to sell yourself short in order to move forward in the process. While some businesses will jump at the lowest offer, there are plenty of others who understand the marketplace. Theyll shy away from candidates that seem too eager to lower their standards to get the job. It may make them worry that youll lower your standards elsewhere as well.
Additionally, do you really want a company that makes you feel like theyre only after the cheapest possible deal? Or do you want to work for a company thats after the most qualified candidate for the job?
- Mistake #3: Setting the desired salary too high
Big numbers can price you out of consideration before youve even had a chance to make a good impression. Low or high, if you propose an amount thats outside of their expectations, it can affect your image and the interviewing process.
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Questions To Ask At The End Of An Hr Interview
Asking questions at the end of the interview shows that you’re interested in the job and have researched the company.
Below are some sample questions to consider:
What would my first month look like if I were hired for this position?
What do you like most about working here?
How do you measure success in this role?
What qualities do outstanding employees at this company embody?
Is there anything else I can provide to support my application?
Read more: Questions to Ask at the End of an Interview
How Do You Ensure Equality And Diversity Policies Are Followed In The Workplace
This question will assess whether you have a good knowledge of the laws and regulations concerned with equality, diversity, and anti-discrimination at work. It will also show how you ensure implementation.
To answer, share professional examples of how youâve supported existing workplace policies or perhaps even helped shape new policies and procedures, such as ongoing staff training, to help ensure staff is educated about, compliant with, and accountable to company policies.
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May Be Ok An External Recruiter
Also known as a head hunter may ask this question to get an idea of what salary you are looking for and an indication of your market value.
They are not employees of the employer who has the job opening. They are paid by the employer only if that employer hires you after they referred you for the job. If the recruiter has a good reputation, you can probably be frank with them. If you decide to share the information with an external, get their agreement not to share your salary with the employer.
What Should We Do If We Find That Pay Isn’t In Line With The Market
Nothing or somethingit all depends on your compensation philosophy, what the position is, which employee is in the position, and your ability to make the change.
If the employee is a solid performer, your philosophy is to pay at or above market, and the position is valuable to your organization, you should consider a phased approach to adjusting an employee’s pay to .
If the employee is a bottom performer and their position isn’t valued, sometimes it’s okay to do nothing. As an employer, you don’t have to make pay adjustments unless you feel they are warranted and worthwhile.
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Describe Briefly About Your Experience
The interviewer wants to know where you have worked, for how long, and the experience that you have gained from your previous roles. Give them the information as requested.
As far as experience is concerned, I have worked as a compensation analyst for seven years in two different organizations. In my first organization, I was dealing with employee agreement updates and negotiating about collective agreements with their employers. I gained a lot of experience here since there were many employees that I needed to work on their compensation plans and compensations. I worked in this organization for three years before transferring to another organization where I worked for four years. Again I interacted with many colleagues, and I learned from them as well. I believe that this is enough experience that is needed in your companys role as a compensation analyst.
Dont Be Afraid To Close The Deal
Once the interview is over, the likelihood is both you and the interviewer have a good idea of where one another stand. As you stand up post interview and engage in a final handshake, be upfront. Confidence here can go a long way. If you believe you nailed the interview, be bold:Im going to be straight with you – I think that went really well and I think Id be a great asset here. Where do I stand as of now?. Alternatively, if you dont think it went wellyou probably have your answer already.
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Sample Interview Questions For Managerial Positions
- At which point do you find it necessary to bring others into your decision-making process? Why?
- Describe your approach to making decisions and solving problems. Why do you do it this way?
- When you recommend something to management, what approach do you usually use?
- How do you assemble relevant data to make your decisions? How do you know you have enough data?
- How much leeway do you give your employees to make decisions? How do you still maintain control?
- What areas are within your sphere of responsibility in your current position? How do, you make sure that you know what is happening ?
- How do make sure that your employees are accountable?
- What operating systems do you use to monitor and maintain control of your area of accountability?
- What do you typically do when you hear of a problem in your area? Explain?
- How useful have you found written procedures and guidelines in helping you manage your area?
- Do you feel that the chain of command is important? Why? When do you feel it might inhibit organizational effectiveness?
Writing Skills Questions
- When you have to write letters, how do you usually get started?
- How do you keep track of incoming and outgoing correspondence?
- What do you see as the difference in writing strategy for a report vs. memo vs. a letter?
What Are The Qualities That A Compensation Analyst Needs To Be Successful
The interviewer wants to know what qualities you think can help you be successful in this role. Talk about the qualities of a good compensation analyst relevant to this field.
To start with, being well organized is one of the key qualities that a compensation analyst should have. There should be clear filing systems that can be accessed easily whenever reference is needed about employee compensations. Again, a compensation analyst deals with numbers that involve employee payments and compensations. They need to be very accurate with zero errors. No employee should ever complain about underpayment or overpayment. Thirdly, a compensation analyst should have good communication skills since there are a lot of consultations that are made concerning documents. Lastly, a compensation analyst should always have clean records of important details concerning payments of employees compensations.
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What Do You See Yourself Doing In Five Years
This one is all about job commitment.
Some people make job hopping a career in of itself, and your answer here can be telling. Here, your interviewer is determining if you are:
- someone who sets goals
- someone who demonstrates commitment
- someone who is loyal
While no interviewer expects someone to stay at a company forever, try and craft your response in such a way that shows progression in your career, and alignment with the Companys needs and future. Again, self awareness is key your employer doesnt want to send you down an unwanted path, resulting in wasted time and energy for everyone.
Please Tell Me About A Time You Had To Deal With A Complaint From A Staff Member About Someone More Senior
Managing conflict is an integral part of any HR role. It can involve resolving issues between employees and managers, addressing performance issues, or dealing with other problems. Itâs important to show you can handle these conversations carefully, diplomatically, and confidentially. During your interview prep, consider the most relevant examples you have to share and prepare a response describing the steps you took to resolve the situation. Use these prompts to help formulate your answer:
Who did you talk to?
How did you get them to open up?
What did you do next?
What was the outcome?
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Tell Me About A Time When You Had To Train A New Colleague Or Direct Report Would You Be Comfortable In Training New Staff On The Compensation Team Here
How to Answer
As a Compensation Manager with this organization, you may have direct reports and will be responsible for the training of all staff within the department. At some point during your interview, your interviewer will try to determine if you can train your employees on the skills they will need to succeed as part of the compensation department. If possible, try to talk about a specific time where you trained a new employee and what tactics you used to ensure that the end goal of the training was achieved. If you do not have this direct experience at this point in your career, you can cite a time when you had to educate and train a hiring manager on the compensation processes.
Written by Amy Hagan on September 13th, 2021
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