Compensation strategies that work
Using a combination of our own recruitment data, publicly available insights and the knowledge of our recruitment experts, we build bespoke overviews of the compensation and benefits required to attract and retain the best talent.
Time to review your organisation’s Salary & Compensation package?
Are you confident your business is offering the right salaries and benefits to attract and retain top talent? In today’s competitive job market, your compensation strategy must be attractive, fair, and aligned with the evolving needs and preferences of a dynamic workforce. Without the right data to guide your decisions, it’s easy to miss out on the top skills your business needs to thrive.
Combining market data with industry expertise and a deep knowledge of recruitment market trends, we go beyond the numbers to reveal what truly drives candidates in their decision-making, so you can adjust your compensation strategy with confidence.
Enquire today about your salary & compensation analysis requirements
How compensation benchmarking can help you?
- Attract and retain top talent with data-driven insights
- Gain a clear picture of your position in the market
- Improve conversion rates from offer to acceptance
- Make data driven decision tailored to your business objectives
What is included in your bespoke benchmarking report?
- Detailed compensation reporting: Provides salary and contract rate analysis of identified roles within your specific industry.
- Benefits assessment survey: A holistic analysis of monetary and non-monetary employee incentives internally and within your industry, factoring in variations based on discipline and/or seniority level.
- Competitor analysis: Benchmarking your full employment offer against other employers in your industry.
- Data-backed recommendations: Analyse specific data points to help you strengthen your compensation and benefits package against competitor offerings.
- Plan for change: Access analysis of inflationary trends to gain a comprehensive understanding of how they may affect salary and compensation.
An award-winning service
Why partner with Robert Walters?
With an agile mindset, we forge collaborative partnerships, delivering bespoke hiring intelligence to meet unique business requirements. Leveraging our global research team, cutting-edge market software, extensive candidate network, and subject-matter experts, we provide tailored solutions.
Understanding your company's challenges, we offer market insights customised to your specific needs, ensuring a strategic approach to address and overcome your business hurdles.
FAQs
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What is salary and benefits benchmarking, and how can it benefit my business?
Salary and compensation benchmarking is the process of comparing your organisation’s pay structure with industry standards to ensure your business is competitive, equitable, and aligned with the market.
It involves analysing salary data for specific skills, roles, levels, and industries to pinpoint trends and gaps in pay and benefits.
There are significant advantages to using salary and employee benefits benchmarking. It can help you attract top talent by ensuring your offers are competitive and improve budget allocation by helping you avoid overpaying for roles. Because salary benchmarking is backed by evidence, it can also strengthen your reputation as a fair employer.
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What information is included in the compensation benchmarking report?
Each benchmarking report provides a clear summary and detailed analysis of your organisation’s pay structures compared to market standards. Every report is tailored to your specific brief and typically includes market salary and benefits data; skills and position comparisons; competitor data; and insights segmented by industry, region, and company size to ensure relevance to your business.
Importantly, our reports include tailored advice on how to optimise your compensation strategy to overcome any market challenges, such as inflation, while improving your competitiveness.
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What specific roles or levels can I benchmark within my organisation?
Compensation benchmarking can be applied to most roles for which there is market data, from manager level to C-suite executives. Benchmarking is particularly valuable for roles that are difficult to fill, rapidly evolving, or critical to your strategic goals.
For organisations with unique or hybrid roles, we provide tailored benchmarking by identifying comparable positions across the industry to ensure you’re aligning pay and benefits appropriately, even in niche areas.
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How often should I update my salary benchmarking data?
In a fast-changing market, we recommend revisiting your job benchmarking data at least once a year. For industries with rapid change or high competition for talent, biannual reviews may be necessary.
Frequent updates ensure your business stays competitive and allows you to adapt to external factors like wage inflation, new competitors, or shifts in employee expectations, such as hybrid work incentives or equity offerings.
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Can you help me align my compensation strategy with industry trends?
Yes, salary benchmarking doesn’t just provide data—it informs strategy. We help you align your pay and benefits practices with emerging trends, such as the increasing emphasis on performance-based pay, flexible benefits, and equity or incentive structures.
By understanding market dynamics and employee expectations, we guide you in creating a compensation strategy that positions your organisation as an employer of choice, while supporting your long-term business goals.
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What complementary services do you offer?
We provide talent and market mapping and competitor insights to complement our salary benchmarking service:
Talent and market mapping reveals where talent pools are located within your industry, helping you understand the pipeline for critical skills and roles. This synchronises with benchmarking to ensure your compensation packages align with the skills and experience levels you’re targeting.
Competitor insights provides a broader understanding of your market position, including analysis into the recruitment strategies, employer branding, and benefits offered by others in your sector. Together, these services provide a comprehensive view of how your business can attract and retain the best talent while maintaining a competitive edge.