Pay benchmarking

Establish a clear market rate and create pay structures to guide fair, transparent and cost-effective pay decisions. 

When employees don’t understand how pay is set, or feel it is unfair, they are likely to be demotivated regardless of the amount.  Through robust pay benchmarking historic anomalies can be addressed, pay structures can be developed and budgets can be spent wisely.  It leads to informed, fair and consistent decisions and responsibility for reward can be devolved to line managers if desired. 

We support the pay benchmarking process by working with you to identify a reliable and valid data source, accurately matching your roles and analysing the data.  We can then guide you through the key decisions and carry out the analytical, design and costing work required to develop a pay structure.      

Recent client projects:

  • Conducted pay benchmarking for clients new to the approach in the manufacturing, education, retail and leisure sector
  • Compiled rigorous pay benchmarking for not-for-profit and charity clients to support harmonisation
  • Collated robust market intelligence for emerging, complex and in demand niche roles

Please call us or submit the contact form opposite to discuss further.

 

Our feedback 

Suzy Locke Migrant Help

Following a period of fast growth and as part of our harmonisation project, we needed to understand our pay positon.  We worked with Verditer to benchmark our executive and staff salaries.  It was the first time we had undertaken an exercise like this.  Verditer helped find the right job matches for our unique roles and ensured both charity and commercial perspectives were taken into account. It is the first time we’ve had market data and costings for all roles in a consistent and clear way.  Its given us the information we need for individual decision-making around attraction and retention and to build our job framework for the future.  Julia and Sam truly understand the sensitivity, governance and complexity of pay in the charity/not-for-profit sector.

SL, HR Manager, Charity Sector