Compensation and benefits studies, also known as salary surveys, easily capture compensation and benefits data in a way that makes comparisons easy and meaningful. Like all Dynamic Benchmarking platforms, our salary benchmarking studies allow for an unlimited number of custom questions to ensure that the nuances of compensation information are properly captured. There are two common approaches with this type of survey:
These salary studies are for organizations to enter salary data about the positions they have in their organization as well as answer a series of questions about their insurance offerings, paid time off and other benefits provided to employees. The Dynamic Benchmarking system easily scales up and down, making it simple for companies of all sizes to sponsor or participate in the same compensation survey. Regardless of the size of the company, everyone who has access to the salary benchmarking platform can conduct comparisons on any position or benefits data point and apply filters to drill down and create peer groups for data comparisons that are most meaningful to their organization. Compensation and benefits studies can be of great value to organizations who’d like insight as to how they compare against others in their industry when it comes to rewarding their employees and are often used to attract and retain top staff.
A salary benchmarking study can also be directed at individuals who answer a series of questions about their own salary, job responsibilities, education, experience, etc. Individuals find these studies useful in comparing their compensation packages to others in similar positions and find the data helpful when negotiating a raise or compensation package for a new position. Dynamic Benchmarking platforms allow direct comparisons for every question so the individual gets to decide which data is most useful for their particular situation.
WHO SPONSORS SALARY BENCHMARKING PLATFORMS?