2021 Benchmarking Payscale 
Analytics in HR
JANUARY 25, 2022
Even so, a recent study by Payscale found that less than 50% of companies have a strategic compensation plan. According to PayScale’s 2021 Compensation Best Practices report , businesses currently have a more challenging time finding and retaining skilled workers than ever before. This is also known as salary benchmarking.
Zenefits
DECEMBER 29, 2021
With each gap, compare data from compensation benchmarking tools to determine how much you’ll have to spend to attract needed talent. While you can ask friends, colleagues, and mentors how much they might pay to hire and retain talent for particular roles, the best way to gauge how much to pay someone is through using a benchmark tool.
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Decusoft
NOVEMBER 5, 2021
Getting compensation right can be tricky – that’s why businesses perform due diligence and conduct benchmarking surveys. A PayScale survey found that 51% of employees believe they aren’t paid fairly even if they’re at or above industry benchmarks. This reflects a slight uptick over increases given in 2021.
Ongig
AUGUST 15, 2022
Be sure to conduct regular salary benchmarking by evaluating your company’s pay standards. ” The Great Resignation — where many people voluntarily left their jobs in late 2020 and early 2021 for better opportunities — is the culprit for wage growth. And, check how competitive salaries are in the market.
Tandem HR
FEBRUARY 9, 2022
Benchmark Jobs to Market. Here are some additional tips: When benchmarking to market, compare the position criteria/description versus position title. According to the PayScale 2021 Compensation Best Practices Report , remote work is on the rise and will likely remain a hot benefit to employees after the pandemic ends.
Zenefits
JANUARY 31, 2022
Benchmark positions, meaning jobs with similar duties, are the best sources for comparing salaries across positions. We recommend using industry benchmarks. Benchmark positions, meaning jobs with similar duties, are the best sources for comparing salaries across positions. This process is called compensation benchmarking.
Zenefits
JULY 9, 2022
In a new Payscale report , companies pay women whose credentials are comparable to men’s 99 cents on every dollar that their male counterparts receive. According to the 2021 Women in the Workplace report , White men account for 62% of C-suite posts, but just 35% of entry-level jobs. Legacy survey providers. Unvetted platforms.
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