You are here

Benchmarking as a tool for determining pay

Over reliance can lead to a wrong estimation because of unreliable data.

BT_20180117_CBPAY_3266321.jpg
While directors do not need to become statisticians or remuneration experts, a better understanding of the nature of the data that they are dealing with can help them make a better estimate of the total amount that they need to pay.

CURRENT approaches to remuneration management mainly rest on "benchmarking" as a technique. Benchmarking in this context means matching what is done in the organisation to the practices of the market. The key assumptions of a benchmarking approach to remuneration are that there is an efficient

sentifi.com

Market voices on:

Powered by GET.comGetCom