Compensation & Benefits Benchmarking

In designing compensation and benefit benchmarking exercises, we review clients’ wage/salary rates, incentive/bonus arrangements, benefit package and grading/progression arrangements. These are considered against industry, sector and, where appropriate, geographical norms, to determine relative positioning and highlight gaps which may exist between prevailing systems and those of relevant labour market competitors.

Wage and salary rates are plotted against industry norm and deciles on an individual position/role basis. Recommendations to address the implications or shortfalls associated with current positions are then developed. We design strategically integrated reward policies to structure and inform future decisions in respect of pay, pay progression and remuneration generally.

Existing benefit and incentive arrangements are also analysed using the same approach and methodologies. Recommendations and solutions are identified and proposed on the basis of your organisation’s positioning, employee categories, age profiles, etc.

For high-level compensation and benefit benchmarking reviews, we generally recommend (in the interest of efficiency and cost effectiveness) that existing/available pay and benefit survey results should be used. Notwithstanding, we are also available to design, develop and administer compensation and benefit surveys where these are necessary in view of a client’s particular circumstances and requirements.