Salary Benchmarking

Industry Specific, Africa, Global & Emerging Markets

Purpose of Salary Benchmarking

The purpose of Salary Benchmarking, whether local, global, industry specific, within any African/Emerging market), is to compare the pay levels within your organisation against a relevant comparator group, in the market in which you compete for skills. Ultimately, this should help you attract and retain superior talent.

The information obtained is typically used for the following:

  • To obtain relevant, accurate, representative data on levels of pay and benefits for specific jobs in the organisation;

  • To adjust the pay levels of employees in response to changing market conditions;

  • To analyse pay-related problems;

  • To set the pay mix (guaranteed vs. variable);

  • To offer appropriate starting rates;

  • To design and modify salary structures and pay scales;

  • To determine acceptable rates of salary progression; and

  • To provide guidance on pay review decisions and well as salary levels of individual employees.

    .

    Salary benchmarking

    The components of the Total Rewards Model that we are able to provide data on includes:

    • Basic salary;
    • Benefits;
    • Cost to Company / Guaranteed Package &
    • Short- & Long-term incentive trends.

    Get in touch to make sure you’re competitive & positioned for success at surveys@emergencegrowth.com

    Output:

    An example of the expected output is as follows:

    Job Title

    Grade

    MARKET DATA – COST TO COMPANY (CTC)

    10th Percentile

    25th Percentile

    50th  Percentile

    75th  Percentile

    90th  Percentile

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

    X

     

    In addition, we are able to provide the supporting information as follows:

    • Guidelines for setting pay levels;

    • Cost analysis; and

    • Market positioning analysis.

     

    :