How to Use Compensation Benchmarking to Enhance Your Total Rewards Strategy

Money talks, and employees are listening. If you’re not offering competitive compensation packages, then you run the risk of losing your top performers to external opportunities. The best way to assess whether your rates and benefits are competitive is through compensation benchmarking. While benchmarking involves a financial and time commitment, its benefits are well worth the effort. You’ll be able to determine whether your rates are keeping up with the competition, and you’ll have the data to make informed decisions regarding your overall rewards strategy.

This ebook gives you a three-step guide to kickstart your compensation benchmarking process. You’ll also discover four different methods for evaluating the jobs in your organization, helping you build a robust total rewards strategy informed by accurate data.

Download this ebook and discover:

• Why salary ranges shouldn’t be your only data point
• Where to find reliable market research
• How to analyze market data and gain actionable insights
• Which job evaluation methods will (and won’t) work best for your business