What is the salary benchmarking process?
Salary benchmarking without using a consultancy like Paydata can be difficult. Job adverts are often posted online with approximate salaries next to them, but this isn’t guaranteed, and what’s actually on offer can differ greatly to what has been posted. This is because personal employee experience can affect the salary on offer dramatically, and there’s also the chance that an inflated rate has been posted alongside the job offer to attract top talent, but it won’t necessarily be paid out. This makes self-research unreliable.
Paydata’s salary benchmarking process encapsulates the results of salary surveys. We have been doing salary surveys for 20 years, over which time we have refined our process to cover most job titles and sectors, providing accurate information to employers who want to benchmark salaries.
What are the benefits of salary benchmarking?