Salary Benchmarking
Build a competitive compensation strategy to win & retain your top talent with our salary benchmarking reports.
Benefits of Salary Benchmarking
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Make sure your salaries measure up to your talent
Among employees, remuneration is one of the biggest motivators when they are considering a new role. Most employers find it difficult to identify the market rate for a particular skill set, making it extremely challenging to hire new talent and retain existing individuals.
A basic salary survey for each of our core disciplines can be downloaded below. This survey provides an average salary indicator for all common job titles across the UK.
For a more specific requirement within a certain geographical area, industry or skill set, please contact our team to discuss our in-depth salary benchmarking services and how they can add value to your process.
General salary benchmarking reports.
Supply Chain, Logistics, Transport
Manufacturing Engineering & Operations
Digital Marketing
Sales & Support
Discover how your salaries stack up.
What is Salary Benchmarking?
Salary benchmarking, also known as ‘compensation benchmarking’ is an in-depth investigation of the true market value of a given role.
Opposed to a basic salary survey, which will provide average salaries based on only a select few metrics, salary benchmarking delivers far more detail and takes into account a range of factors which have a bearing on an individual’s salary package, including their location, education level, market sector, company size and experience level.
The information gathered in every benchmarking process is bespoke to an individual client’s needs. The idea is that by analysing the market and your competitors, you can identify and establish a reliable set of benchmarks against which you can set your own salary offerings. This will allow you to not only compete for the best talent but do so without overpaying.
What are the benefits of salary benchmarking?
Retain your Talent
Salary benchmarking has become an important and well-needed strategy for businesses aiming to attract and keep valuable employees. It is now more important than ever that you retain and hold on to your top talent. This retention becomes more difficult when employees are presented with better and more appealing positions. Key factors that can make an employee look for other roles include the working hours, benefits, and of course, salary.
Attract Top Talent
As well as Salary Benchmarking being a great tool to retain your current team, it is also a fantastic tool for company growth. These valuable insights allow you to offer a salary that meets the standards for things such as location, industry and role, which makes the role more attractive to potential applicants. Our reports allow you to get ahead of your competition, highlighting you as a stand out company to work for.
Room for Improvement
Salary benchmarking helps you compare your salary and benefits with what your competitors offer. It gives you the opportunity to adjust your salary offerings based on what’s currently in demand in the market and the latest trends. This process highlights where your competitors might be ahead of you, as well as where your company has the edge.
Hire smart, offer right with our salary benchmarking reports.
Is my company’s data secure with your service?
Yes. Protecting your data is our number one priority. We have put in place tight security measures to make sure that the information you share with us is handled securely and confidentially. We never share your data without your consent.
Can your service help with global salary benchmarking?
Yes, our service offers global salary benchmarking capabilities. We have access to salary data from multiple countries and industries, enabling us to provide accurate and relevant benchmarks for international businesses. The information you share with us is handled securely and confidentially. We never share your data without your consent.
How can salary benchmarking improve employee retention?
By ensuring that salaries are competitive, salary benchmarking can significantly increase your employees satisfaction and loyalty. Employees are less likely to seek opportunities elsewhere when they feel valued and fairly compensated.
Can your service provide insights into benefits and compensation trends beyond base salary?
Yes, in addition to base salary data, we can provide insights into prevailing trends in bonuses, benefits, and other forms of compensation to help you create an attractive compensation package.
How do we get started with your salary benchmarking service?
Getting started is easy. Book a discovery call below or give our team a ring on 0161 870 5000. One of our consultants will guide you through the process, from initial consultation to final report delivery.
Get ahead of the competition.
Get in touch with one of our salary experts today to see how salary benchmarking will help you attract and retain high performers in your industry.
