Pay Benchmarking

//Pay Benchmarking
Pay Benchmarking 2018-07-23T18:07:14+00:00

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Pay Benchmarking

Having a clear and consistent process to evaluate your roles, and reliable market data to benchmark your salaries, is vital to create an effective reward strategy. However, salary benchmarking is an art, not a science. The objective is not to pay what your competitors are paying but to enable your managers to make more informed decisions. Your employees are also more likely to be demotivated or feel unfairly treated if they do not know how pay is set.

The first step in the process is picking the right data source. Since we’re independent of the large survey providers, we will consider all the options and pick the data source that is most suited to your business. We’ll then work closely with you to match your roles and provide detailed data analysis and guide you through the process.

We will train your HR team and managers so you don’t have to always rely on external consultants for benchmarking requests.

For more information about Pay Benchmarking, please get in touch and speak to our independent expert.

Contact 3r Strategy