Benchmarking a position’s salary against the market can help guide and inform your overall compensation strategy and ensure your pay levels are competitive enough to attract and retain the talent your organization needs to be successful.
Our team uses top data resources, as well as our own internal knowledge of the marketplace, to provide organizations with the information necessary to be confident that compensation plans are in line with those of your competitors. We also can provide an independent, expert voice needed to validate compensation-related decisions.
HOW WE DO IT:
Our Salary Benchmarking Services may include:
- Working with your team to identify the individual positions that should be benchmarked against the external current market rate.
- Crafting or updating job descriptions (as needed) to document the responsibilities and requirements of each position identified.
- Interviews with key team members (including managers and incumbents) regarding the positions to be benchmarked.
- Recording current baseline compensation.
- Assessing the current market rate and factors for each benchmarked position as it relates to industry, company size, and geographic location using top compensation related tools and technologies.
- Comparing current salary structures and pay packages to an extensive mix of subscription based proprietary and public market data.
- Communicating findings and recommendations to key stakeholders via a comprehensive written report.
For more information about OperationsInc’s Salary Benchmarking Services, please contact us at info@OperationsInc.com or 800-307-5513.