Trusted Compensation Surveys and the Data That Matter

A few years ago, I stepped away from the corporate world to focus on being a mom, yet I still wanted to keep my foot in the HR door. This led me to work for a few years as an independent consultant specializing in compensation practices.

So, what’s the most critical—and often the priciest—asset for a compensation consultant? For me, it’s one essential four-letter word: DATA. But not just any data—I mean valid, reliable survey data you can truly trust.

I'm not talking about the free, easily accessible numbers you find online; I’m referring to data that can underpin sound pay decisions.

Accurate Compensation Data

Here’s how you can tell the difference between sound data and garbage.

• Know Your Source: If you don’t know where the data is coming from, it’s hard to trust it. I like to see what’s behind the scenes. A survey report that doesn’t disclose its participating organizations or explain its data validation process is a red flag.
  
  
• Consider the Cost: I love a good bargain—especially on shoes—but when it comes to compensation data, you often get what you pay for. If a survey’s price seems too low, it might be too good to be true. Quality surveys are an investment.
  
  
• Size and Variety Matter: A larger sample size offers more confidence that the data accurately reflects current pay trends. Even better, don’t rely on just one survey; aim to gather insights from 3 to 5 solid sources to capture a broader picture.

Understanding and leveraging the nuances of compensation survey data was crucial during those early consulting days—and it’s just as important now.

If your cooperative’s success depends on your people, ensuring fair pay is key to retaining them. To stay competitive, you need to know what others are paying for similar roles. Critical decisions that affect your organization aren’t to be made in a vacuum—they should be driven by solid, reliable survey data.

Cooperative Compensation Data

Foundations Consulting is administering the 2025 Agricultural Cooperatives Compensation Survey. Visit the survey information page on our website for more information or contact us at consulting@farmcreditfoundations.com.