Failing to ascertain and offer compensation plans that are competitive at the position level against competitors on a countrywide, regional and locality basis risks the loss of existing talent and potential new hires.
Goals and Objectives
Compensation that is attractive and competitive positions the organization to effectively attract new hires and to retain key staff.
This use case is supported by synthesizing external compensation benchmark data with an intelligent compensation management and planning system.
Use Case Summary
Competitive benchmark compensation data analysis and compensation management software system together identify proper compensation levels. Compensation that is in alignment with the competition is a critical factor in ensuring employee satisfaction and improving employer attractiveness to potential job applicants.