Salary Benchmark - Salary Benchmarking - CiteHR
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Hi Gurus,
I need some urgent help with this issue..
I was asked to make a Salary Benchmark based on a salary surveythat I got but it has only the grades' codes (e.g Z1 To Z25) Without Any Job Titles To Start With And Benchmark Then Set My Hot Jobs Somewhere At The Scale. Could Anyone Tell Me Of There Is Another Way To Conduct Such Benchmark?
The Survey Has:
1) Grades' Codes (Which Is Different That The Grading System We Use Internally).
2) Salary Salaries And Benefits Mapped To Each Grade
Thank You
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Hi!

Benchmarking with data prepared by others, esp multinational firms like Korn Ferry HayGroup, Towers Watson, etc. can really be confusing if your knowledge on international compensation matters is limited. You will need the assistance of compensation consultants (like us) to be able to use the data that you have.

I have been working and using different market compen survey data prepared by HayGroup, Towers Watson, Mercer, and others and the following will be very important to remember:

1. The job grading they use is based on their JE concept. You have to be able to understand their system and evaluate your own jobs according to their JE system. Without it, your benchmarking will not be correct/ accurate.

2. The job grades have certain point score ranges therein. These point score range is the basis for the benchmark (or match) between the positions in your company and those of the survey participants. The actual position or job titles are not being mentioned, although sample positions for each job grade is normally given in the introductory pages of the survey report.

3. The amounts given per job grade is also expressed in rate range. It should also be used in the same manner.

4. The following activities will have to be performed before any benchmarking can be done:

a) Conduct of Job Analysis

b) Conduct of Position Clarification/ Validation Interviews

c) Assess and Evaluate each position/ job title

d) Group and Classify the jobs

I can help you benchmark your companies job/ position titles with that of the market data/ survey report that you have. I can even help your company design a new salary structure that is compliant to the four (4) compensation principles of: Internal Equity, External Competitiveness, Affordability, and Sustainability. But I charge fees and you can save if you have the following data:

a) Good Job Description (with Job content, Job context, and Job requirements)

b) Latest Payroll Data or current rates per position (actual)

c) Survey Data

Call me or send me an email if interested. I can even work and transmit outputs via the internet. This is what I do for my business partner in the Middle East.

Best regards.
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