Salary benchmarking

Leverage bespoke and independent reporting that contains the insights, real-time data and recommendations you need to formulate the best remuneration strategy for your organisation.

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What you need to know about salary benchmarking

The right salary and reward offering can be the difference between securing the right people - and losing them to your competitors.

To stay ahead of the curve, you need an impartial and accurate overview of pay information across a diverse landscape of industries, regions and job roles.

As your lifelong partner in the world of work, we’ll equip you with the market knowledge and contemporary insights you need to enhance your access to skills and expertise.

 

An established insight

We have an extensive track record of producing in-depth, bespoke salary benchmarking reports that have enabled clients to develop attraction strategies for future recruitment needs, improve employee attraction and retention rates and inform change and organizational restructuring.
 

A market-leading methodology

The Hays methodology brings independence to any review, as well as robust evidence of what others in the market are doing both now and in the future. This information will enable you to make sound decisions around developing the most appropriate and competitive benefit structure for your organization.

Talk to us about salary benchmarking

Get in touch today to keep your remuneration strategy competitive. For more information complete the form below to request a call back, or email us directly benchmarking@hays.com.

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How salary benchmarking can help your business

  • Right skills, right price

    Engaging an independent provider to build competitive reward strategy not only demonstrates a commitment to fair and equitable pay, but also enables you to make sound decisions around developing the most appropriate and competitive pay and benefit structure for your organisation.

  • Data-driven decision making

    Our salary benchmarking solution provides you with bespoke and independent reporting that contains the insights, real-time data and recommendations you need to formulate the best remuneration strategy for the skills you need.

     

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Salary benchmarking tailored to your business

We offer an independent review that’s underpinned by our unique methodology provides robust evidence of what others in the market are doing both now and in the future.

Conducted by a dedicated research team, we provide tangible information about specific and up-to-date remuneration from the most relevant peers to your organisation, whether that be public, private, not-for-profit or internationally.

Not an off-the-shelf product, but a tailored review based on appropriate data sets, our service is agile enough to consider scale, size and structure, as well as nuances in the industry.

Salary benchmarking FAQs

Variations in pay could be the difference between holding on to hard-won and valuable employees, or losing them to competitors. Benchmarking salaries gives you an accurate and impartial idea of salary information that allows you to make data-driven, real-time decisions about remuneration.

This both keeps your organisation commercially competitive and improves employee retention.

Spending time on salary benchmarking and ensuring you formulate a well-researched and comprehensive salary and benefit strategy can pay dividends, meaning you should only need to do it once or twice a year.

However, this frequency may need increase in line with any market or economic shifts that impact the employment market.

Obtaining up-to-date and accurate salary data from other organisations can be exceedingly time-consuming, and most organisations are unlikely to have the resources to dedicate to it. Engaging a third party, such as Hays, to carry out the work for you will provide your organisation not only with real-time, targeted data, but an independent, impartial approach with clear, actionable recommendations for you to implement straightaway.

A solution for every workforce challenge

Elevate your decision making 

Complex problems require careful consideration. Leverage a wealth of insights to inform your workforce strategy.