If Salary benchmarking is not already an annual process for your HR team, it should be! Benchmarking is important not only for candidate attraction strategies, but also employee retention. It keeps you competitive in your market and ultimately reduces your employee turnover costs.
Whilst benchmarking is vital to any company regardless of size and turnover, inaccurate data can lead to employee dissatisfaction, a lack of employee engagement, difficulties in hiring and skills shortages.
It is important to use somebody you trust and somebody specific to your industry and market space, a generalist will not have sufficient information to guide you effectively. With 20 years of payments, cards and fintech recruitment experience, TPN are at the forefront of the financial services space. We can easily utilise our specialist knowledge to advise and provide you with accurate data to support our recommendations. We are speaking to candidates and your competitors daily so have real time data and insights.
TPN benchmarking covers so much more than just base salaries. We can provide detailed information on sick pay, pensions, holiday entitlement, training/wellbeing packages, Ltip’s, bonuses and even redundancy processes and packages.
Salary benchmarking is a critical annual process and is only beneficial If the data is accurate and specific to your brand. Contact David Earle’s today to find out how we can help you and avoid non specialist information that can misrepresent you in the industry.