Pay benchmarking
Obtain reliable market data and create pay structures to guide fair and transparent pay decisions
Pay benchmarking
Inform your pay decisions with robust benchmarking data. With reliable and valid data, historic anomalies can be addressed, pay structures can be developed, and budgets can be spent wisely.
We support the pay benchmarking process by working with you to identify the best survey source for your roles. We’re familiar with many different survey methodologies and can accurately match your roles before analysing the data and creating a tailored report.
Our pay benchmarking reports are clear and comprehensive. We provide your overall competitive position and indicative costs to reach your desired market position. We also tailor our data insights to suit you e.g. by department, location and gender.
Pay structures
Simplify your raw pay benchmarking data into a reliable and straightforward pay structure. This helps employees understand how pay is set and is a fundamental step towards pay transparency. Once developed, responsibility for reward decisions can then be devolved to line managers, if desired.
We guide you through the key decisions required to establish pay progression principles and develop or update your pay structure. We then analyse your pay benchmarking output to design a pay structure with implementation costs.
We can also provide implementation such as employee webinars and Q&As.
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FAQS
Salary surveys combine data from many organisations to establish a market rates for roles. They are used to ensure pay and bonus levels are reasonable, commercial and competitive.
A reliable salary survey will use data collated from employers, rather than self-reported by individuals, and based on a robust matching methodology rather than job titles alone.
A pay structure is designed by combining raw pay benchmarking data into a format that is more easily used. Often based on job families with clear pay progression principles.
Having a clear and explainable approach to pay is a foundation for pay equality and trust in reward. This aligns with the EU Pay Transparency directive and draft UK Equality (Race and Disability) Bill.
Feedback
We are particularly proud of
our client feedback
our client feedback
“We worked with Verditer to develop an entirely new approach to pay. Our complex structure includes charity and commercial companies, and Verditer fully understood this and gave us real confidence in the outcomes. A pleasure to work with, Verditer gave us a new pay system we can confidently introduce to the organisation.”
Nicola Spencer, Group Resources Director
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“We used Verditer to introduce a new reward strategy, including a bonus scheme and pay benchmarking. The team were insightful, commercial and really ‘got us’, creating a bespoke strategy that met our specific requirements and excellently guided our implementation. We would highly recommend.”