This course introduces the idea of benchmarking, or comparing your salaries to those of your competitors. Benchmarking is one of several factors that organizations use to determine employee pay. Additional factors include the organization's compensation philosophy, ways beyond salary that employees are compensated, and the organization's budget. Organizations need to strike the right balance of paying enough to attract and retain quality employees but not paying more they can afford.

In this course, you will explore the different salary surveys used in benchmarking analysis and how to decide what surveys are best for your organization. You will also examine strategies for reviewing and analyzing those surveys. Finally, you will consider how to use the results of your analysis to adjust salary structures and how to communicate the results of your analysis to the organization.

The following course is required to be completed before taking this course:

• Total Rewards Compensation