A Complete Guide on Salary Benchmarking
HR Lineup
AUGUST 16, 2024
Salary benchmarking, also known as compensation benchmarking, is a crucial process for businesses that aim to maintain a competitive edge in attracting and retaining talent. It involves comparing internal job salaries against external market data to ensure that a company’s compensation structure is both fair and competitive. This guide will take you through everything you need to know about salary benchmarking, including its importance, how to conduct it, and how to use the results effectively.
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