Salary Benchmarking

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What is Salary Benchmarking?

  • Successful organisations operate under competitive and attractive employment conditions.
  • Salary benchmarking can deliver these conditions at a sustainable fixed-cost basis.
  • We compare salaries between posts with comparable responsibilities across a range of organisations.
  • Salary benchmarking is not an absolute science, but it is a logical approach to information gathering. It enables you to make informed decisions.

We can help you to…

  • Attract and retain the right kind of employees;
  • Maximise the value of your people spend; and
  • Embed solutions with transferred knowledge, avoiding consultant dependency.

The process

  • Briefing; reviewing and collecting background information about the organisation.
  • Interviewing the employees whose salaries are to undergo a review.
  • Validating and, if necessary, updating current role profiles. (It may be necessary to create new role profiles. We can assist in their design.)
  • Salary benchmarking: collating comparative data from a variety of sources. (e.g. comparable publicly advertised posts; specialised survey data.)
  • Preparing a draft report; discussions with the commissioning organisation; finalising the report.

Our expertise enables you to…

  • Combine the strengths of formal job sizing and survey data with real-time market knowledge;
  • Navigate the factors which influence salary levels, such as market sector, geographical location and organisation size; and
  • Identify suitable and sufficient comparators where posts are atypical.

“The results were extremely beneficial. The excellent work resulted in a successful pay review for our staff.”
Peter Burrows, Finance Director, Composite Material Supplies Ltd

Contact

Click here to read or download more about ‘Salary Benchmarking’