Pay & Benefits Benchmarking

Imagine the scene – a manager comes into your office waving an advert claiming a competitor is poaching our staff by paying higher salaries. We have all been there.

It might be true – in which case you risk losing key members of your team. It might not be true, as adverts are not the best source of salary data or the job could be significantly different from the work undertaken at your organisation. Experience has shown that matching roles by job title alone is fraught with problems.

In either case, you need to know the facts around the positioning of your pay in your chosen market, not only to debate individual claims, but also in the wider context to determine your corporate policy on pay positioning.

CELRE’s unique link with CELRE Salary Surveys, one of the UK’s major providers of salary and benefits information, put us at a competitive advantage when benchmarking your roles.

If you have specialist roles or wish to target a specific market segment, we can consider running a bespoke ‘club’ survey to get market data from a target list of companies you specify with similar roles. We often find that if you need this data your competitors also need it and are only too willing to participate providing confidentiality is maintained by using a consultant.

Whether we extract data from our available surveys, or run a bespoke survey, we will produce a report supplied electronically or in hard copy if preferred. The report will be our assessment of market median practice for basic salary, total cash (basic plus bonus) and benefits package (if requested) for each of the roles benchmarked.

Salary and total cash data provided will be our assessment of market base pay levels at Lower Quartile, Median and Upper Quartile for your locations.

If we have been advised of current pay levels in your organisation, we will also present a compa ratio analysis of how these compare to the market medians. This will give you a ready assessment of the extent to which your current pay and benefits practice is market-aligned. The report will also provide a commentary on where we think corrective action may be appropriate.