A big part of the success of a well-thought-out benefits strategy is to ensure it delivers value in the eyes of employees.
That perception of value is shaped both by how you communicate your offering and how your benefits package compares to others in the market.
With experience designing and delivering benefits programmes both in-house and in consulting projects, we deliver reliable assessments of how your perks compare to market, and insights to inform impactful changes.
How Benefits Benchmarking Works
The first step in the process is to pick reliable, industry-appropriate data sources.
Data from free sources often only look at the bare bones of what an organisation offers its employees, while formal surveys undergo rigorous analysis and review.
After this, it is important to decide where you want to be positioned in relation to the external market.
We then make comparative assessments looking both at prevalence (how common it is for organisations to provide different types of benefits) and practice (what do typical levels of provision look like e.g. days of annual leave).
Supporting Stakeholder Discussions
We present the findings from these benefits benchmarking assessments in a visually compelling way to support internal discussions with different stakeholder groups.
We also advise on the implications of the benchmarking results for your benefits strategy and your overall reward and people plans.
Being clear and open about the purpose and approach to benefits benchmarking goes a long way towards people having a proper understanding of the results and their implications for decisions.
We offer different reward communications packages to suit your needs and help communicate your policies and processes clearly and honestly to employees.
Related Services
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