We can help you determine employee pay levels and structures by using remuneration benchmarking, which provides comparative data for identical or similar job roles in similar companies or organizations.
Through salary benchmarking, also called compensation benchmarking or Remunerations Benchmark, Houston Executive Consulting can match your internal jobs and their descriptions to similar jobs and descriptions in a salary survey or other source of market pay data, to identify the market pay rate for each position.
Our HR Consultants have invested some time into building out a compensation model. We are committed to spending time and perform the remuneration benchmark and getting it right.
We have access to an extensive library of reliable, well-established salary surveys covering several industries, geographic locations, and revenue sizes. More still, we have tools that help accurately analyze the data.
Step 1: Assign Everyone in The Business A Role and Level
A career progression framework is something which:
- Defines the possible roles and titles across your organization
- Shows which roles each team member can progress to
- Explains what someone has to do to progress to each role
This will essentially form the progression and leveling framework on top of which we shall need to place the salary data for each role and level.
Step 2: We Find Some Salary Benchmarks
We shall find something that is equitable, sustainable for your organization, and something that your staff will believe in. Here are some of the key issues to address;
- Identification for the data source for base salary
- Selection for the organizations to benchmark against
- How to refine the data and fill the gaps
- Determining the percentile to use for pay
- Dealing with different locations (if any)
We benchmark with sister consulting firms and also add Radford, Willis Tower Watson, and Option Impact to get the relevant benchmarking data.
We shall determine the right salary levels by Apply generous filters to compare your organization with those of a similar funding round for each role.
We shall also use a multiplier as we scale through the levels. This helps us to figure out what the typical salary ratio change between a level each level for all roles and then we use this to calculate what a change in salary should look like when the data doesn’t progress.
We shall also look across different percentiles to see if data exists. This will be useful for us to figure out which is the best option for each team looking at different filters and sources to arrive at a final recommended salary for each level.
To determine the exact salary levels for each level, we shall utilize our network of HR practitioners in the NGO arena and Hospital Setting. We shall also reach out to some experts able to give us accurate and reliable salary benchmarks for each level of seniority in the organization. We shall be able to use this data to map onto your own compensation system.
Undertake a comprehensive review of your remunerations to align with the job market for competitive advantage.
DELIVERABLES FOR A SALARY BENCHMARKING EXERCISE
The benchmark will be guided by the Terms of Reference (TOR) provided by the client. The deliverables shall include a comprehensive and robust report that ensures a true representation of pay levels in the market covering the following areas.
- A career progression framework
- A summary of the benchmarked positions in their different categories
- A breakdown of the compensation package to compare salary and benefits available within specific benchmarked organizations.
- A list of participating organizations/Institutions including addresses, size, sector, and annual budget.
- A summary of benchmarked positions and their descriptions.
- We have an accurate and detailed methodology that helps our team to get the desired results.
- We have been performing similar HR consultancy works since 2019 with different organizations
- Our consulting team and key personnel involved have the right education, skills & experience mostly holding Master of Human Resource Management, MBA & Doctorate (if required). We have general diversity of the team to give you the desired result.
- We are the most positively recommended firm on the search engines in Uganda with many references from previous clients, and companies served. We also rank among the top HR and Management Consulting Firms in Uganda.
- We are fully compliant with the corporate laws of Uganda. we are always ready to provide copies of Regulatory Information (copy of valid up to date URA tax clearance certificate, copy of a trading license, company registration certificate, etc.)
COST AND TERMS OF PAYMENT
We often get asked the question, “How much do salary benchmarking surveys cost?” Don’t worry, the survey budget will be just a fraction of your total payroll cost and you will certainly get good results if you get good results.
- The services cost shall be as agreed in the contract of engagement.
- Our firm will be advanced 50% of the total cost at the start of the exercise; and upon submission of a satisfactory report, the firm will invoice your organization for the remaining 50%.
Get Your Quotation Today
Send us an Email Via firstname.lastname@example.org
Message Houston Executive Consulting on WhatsApp: +56782825945