People Benchmarking identifies gaps and opportunities and enables growth and improvements by providing a clear market picture and trends.
Businesses that regularly benchmark will understand how they measure against key metrics and can change and adapt their people plans to stay current and gain a competitive edge.
Our Benchmarking Research & Reports Include:
Salary and Reward Benchmarking
Payroll data across the market and competitors identified to understand salaries and job titles.
Gain insight into the geographical spread of skills, prominent employers, supply, demand and average salaries by location and talent pool demographics.
Gather insight into key motivators and perceptions of the industry and competitors.
HR Policy and Strategy
Let us help you discover the future of the workplace in your market, the existing HR Tech and patterns emerging that will keep you ahead of the rest!
Absence and Leave
Understand what your offering is compared to your competitors regarding Annual Leave, Compassionate Leave, Maternity Cover, Paternity Leave, Shared Parental Leave and Sick Leave.
Learning and Development
How does the effectiveness of your learning and development stack up? Discover what others in your industry are spending in this space and their adopted programmes.
We can give you many benchmarking metrics, from Employee Engagement, Employment Tribunals to an overall look at your competitor’s Employee Health and Wellbeing practices.
Recruitment and Retention
From Attraction Campaigns and Retention activity to Selection and Recruitment costs – find out how you compare.
Equality, Diversity and Inclusion
Benchmark and sensor check your Equality, Diversity and Inclusion policy and practice and make evidence-based changes to eliminate age, disability, race and gender discrimination.
It’s a candidate’s market, and motivators are forever evolving; keep on top of recruitment messaging by understanding your ideal candidate’s motivation in making their next career move.
Salary And Reward Benchmarking
In order for business leaders to create competitive and affordable salary and reward packages, we provide role specific data and insights which highlight trends at skill, sector, geography and company level providing you with more relevant information than generic salary survey reports.
Our blend of macro and micro data analysis enables you to benchmark more effectively through the utilisation of evidence-based insight relative to your company and the skills you employ.
Job Role Benchmarking
We will create a point of reference against which your roles can be compared and assessed. We will analyse existing jobs, utilising your internal documents and provide consultative feedback to create a matrix of skills, experience and competencies from which we conduct internal and external benchmarking.
Our ability to interpret your information and gather competitor role intelligence ensures that you can create job roles and job descriptions which underpin business goals and recruitment, development and performance review workstreams.
Cogito’s research team will collate relevant remuneration data from previously completed projects and industry contacts. This primary data will then be combined with open-source data points, including other published salary surveys and data collected from industry bodies.
We will also conduct calls on spotlighted roles and those that may have flagged some nuances.
Cogito will present the salary and reward benchmarking report, including all relevant remuneration information.
Market remuneration analysis includes averages by role, distributions of salaries and a breakdown of your market position and competitiveness by percentile. This detailed analysis allows you to understand better how your proposition, in terms of pay, fits within candidate expectations and other employers’ offerings.
Insights To Help You Win The War For Talent.
With Our Salary Benchmarking Insight, You Can:
- Identify the strengths and weaknesses of your organisation’s salary structure, enabling you to create an accurate profile of your company.
- Save time and money with accurate data.
- Compare your salary offerings to your competitors.
- Take what is working across the industry and apply it to your business.
- Make evidence-based decisions upon salary budgeting.
- Compare the salaries across the market and similar industries.
- Adjust your salaries accordingly.
- Highlight performance measures and processes.
- Attract new talent.
- Implement improvements.
- Improve employee retention.
- Enable equal opportunities.
What To Do With The Data?
You now know the facts, but how do you produce a robust, meaningful plan to shape your future people strategies that align with your business goals?
Kelly is our expert in supporting our clients to use the data to develop robust people strategies, pay frameworks and benefits packages.
She has led international HR teams during her career as a board level leader within the private sector. Her experience ranges from developing and implementing people strategies, to the more specialised elements of cultural change, reward and pay frameworks, organisational development, scale-ups and M&A diligence and integration.
Kelly has worked and continues to work with leading companies on reward projects including total reward frameworks, flexible benefits implementation, job evaluation, incentive scheme designs and benchmarking.
She is acknowledged by peers as a thought leader in the area of pay and reward, creating innovative strategies and solutions to support organisations in the attraction and retention of employees. She pushes boundaries to implement contemporary solutions and speaks at industry events on these areas.
salary benchmarking blog
Salary Benchmarking: How To Attract And Retain Top Talent
There’s no doubt that salary and reward benchmarking is an essential component of any business strategy. In today’s competitive candidate market, and with salaries on the rise, no one wants to lose their best employees to better offers and packages from their competitors. Crucial to any talent retention strategy, it aims to understand what other companies are paying for similar roles to ensure that businesses can ensure that they are offering a fair wage to their employees. In a nutshell, the concept aims to compare what pay and benefits are provided by your competitors. It also allows a business to see how competitive they are within their marketplace.