Salary Benchmarking is an important HR process, not only does it help to ensure that an organisation can attract and retain the best talent, but it maximises the value of your people spend. Successful organisations offer competitive and attractive employment conditions, realising the value of regularly benchmarking against the external market. However it is important to maintain a balance with remuneration and benefits; offer too little and you won’t attract the best calibre people, offer too much and you won’t encourage healthy attrition.
There is of course a further consider here too; recognition. Increasingly rewarding your most valued talent comes not only in the form of hard cash, but in the sense of worth, value and importance that you give an employee. Engagement is built on this and happy teams are created as a consequence.
Salary benchmarking is not an exact science, but we can help you with this and offer our market insights.