External benchmarking strategy in a changing world.
To attract and keep the best people, you need to pay competitively. But are your principles and strategy around external market benchmarking relevant today? Is the mix of pay right across the organization? Is there alignment in these principles between your leaders and HR? What is the going rate—for each job level, function and location in your organization?
Korn Ferry has advised clients of every size, in every industry sector across all geographies on establishing externally benchmarking strategies and how these strategies relate to effective compensation program design.
Our digital platform, Korn Ferry Pay, uses data collected from 20 million job holders in 25,000 companies across 150+ countries to provide a highly accurate picture of how your salary programs compare with the market. Through this online platform, you can also drill down into the data and use deep pay insights to improve your ability to attract and retain talent—even for roles that are new to market or still being developed.
Contact us to find out how Korn Ferry can help you develop a fit-for-purpose competitive benchmarking program and how Korn Ferry Pay can help benchmark your rewards against the market.