Market Reviews & Salary Benchmarking

 

Delivering market-competitive compensation programs is critical to effectively attract, retain and reward talent.

Conducting a market review is an excellent way to determine how your organization measures up against competitive market practice.

At Gallagher McDowall Associates, we help you with market reviews by:

  • Helping you identify published surveys that can provide you with the best data for your organization
  • Undertaking custom salary surveys that allow you to gather data for specific jobs from a specific group of companies

We make conducting custom surveys easy through our fully automated compensation survey tool that can be tailored to capture the data you want to collect. Our salary survey technology enables users to compare pay levels in their organization to the market (both including and excluding their own compensation in the survey sample), and to select the market compensation statistics (25th percentile, 50th percentile, 75th percentile, etc.) to which they wish to compare themselves. Given a sufficient number of participants, Gallagher McDowall Associates can enable users to source compensation data for specific market categories (organization size, location, etc.) within the total survey samples.

Our online survey tools provide secure, flexible and efficient ways for organizations to source market data for those “hard to price” job families and industry sectors.

We also help you act on the findings of market review by addressing any need to:

  • Revisit your compensation strategy
  • Update your base pay structure or pay administration guidelines
  • Refine your approach to variable pay, including the competitiveness of incentive award opportunities and the design of incentive plans

To find out more about how Gallagher McDowall Associates can help you with your Market Reviews and Custom Salary Survey needs, please contact us.