[fs-toc-h2]How Does Our Salary Benchmarking Tool Work?
Companies and employees use salary benchmarking as part of a strategic process to analyze compensation structures against similar organizations and market trends. Check our HR Glossary to learn more about salary benchmarking, including its impact on employers.
In a dynamic marketplace for top skills, getting the balance right for your salary bands can get tricky. Paying too little might save some initial costs but risks losing key talent, while overspending can strain your financial resources. This is where benchmarking data and tools, such as Playroll’s compensation benchmarking calculator, can save time and eliminate uncertainty.
Compare real-time compensation for any job or industry at any location, for free. Simply enter your job title, seniority and location. We'll crunch the numbers and show you the average salary, plus the highest and lowest salaries for that position – based on recent job adverts across sources like Glassdoor, Zip Recruiter and internal data.
Why it’s Important for Businesses to Benchmark Employee Salaries
Benchmarking employee salaries is essential for businesses to stay competitive, attract top talent, and ensure fair compensation. By comparing their salary offerings against industry standards, businesses can identify any gaps in their compensation structure. In turn, this helps to retain current employees and avoid costly turnover. It also makes financial planning and budgeting easier, by aligning salaries with market expectations and company goals.
[fs-toc-h2]Key Features of Our Salary Benchmarking Tool
Our salary benchmarking tool comes packed with the latest features to save you time and make it easier than ever to navigate salaries with confidence:
Real-Time Data and Regular Updates
In a shifting job market, access to real-time salary data is essential to stay competitive. Our salary benchmarking calculator is powered by continuously updated data from Glassdoor, LinkedIn and local research across industries. You’re guaranteed to always work with the latest, accurate information available.
We regularly refresh salary data to reflect current trends, economic shifts, and market demands. With our tool, you can confidently align your compensation packages with market standards, setting you up to attract and retain top talent with competitive offers that meet evolving expectations.
Filters for Role, Region, and Industry
Quickly find the salary data you need with filters for role, region, and industry. Customize your search to get precise insights on compensation trends across specific positions, locations, and sectors. Our tool’s filtering options saves you time and helps streamline your research.
Easy-to-Use Interface and Report Generation
Our salary benchmarking tool has a user-friendly interface that simplifies the process of gathering, analyzing, and sharing salary data. Intuitive navigation makes it easy for hiring managers, HR professionals, and business leaders to access salary insights without a steep learning curve.
With just a few clicks, you can generate customizable reports that feature salary benchmarks by role, region, industry, and experience level. Each report is visually organized to present key data at a glance, and can be tailored to show only the metrics that matter most to your team. Export options allow you to quickly share insights with key stakeholders to make informed compensation decisions.
Ready to Streamline Your Salary Decisions and hire Internationally?
[fs-toc-h2]Ensure competitive pay with playroll’s Workforce management solutions
Compensation is equally important to compliance when hiring and retaining global talent. To level up your global HR strategy, you need the right tools and resources for the job.
Playroll is your all-in-one HR and payroll partner, offering real-time compensation insights, compliant hiring guidance and legislative support. We form the solid foundation you need for a global workforce that is empowered to do what they do best – build your business.
- Access global hiring guides, including leave policies, legal and tax requirements to ensure you stay compliant in hiring across 180+ countries.
- Browse state hiring guides to stay in the know when hiring across the United States, and access leading EOR or PEO solutions.
- Calculate and compare the true cost of employment with our free employee cost calculator. Estimate employment costs based on team member locations with a breakdown of the taxes, fees, benefits you can expect to pay.
- Browse ready-to-use job templates with customized job descriptions that save time and attract high-quality candidates.
Want to kickstart your global hiring journey? Request a demo today!