News
Salary Benchmarking
For an organisation to attract and retain talent, you need to offer an attractive compensation package. Companies known for good compensation packages naturally stir inquisitiveness amongst candidates. Along with the brand pull of an organisation, a well-designed compensation package plays a crucial role in attracting the interest of top talent.
Work Dynamics's salary benchmarking provides an independent snapshot of the market basic salary, total guaranteed package and total cost of employment, as well as typical benefits prevalence for individual positions.
Our association with P E Corporate Services provides us with access to a range of salary surveys regarded as amongst the most comprehensive and authoritative available in Southern Africa. The survey typically comprises:
- An overall national database of over 800 South African organisations employing in excess of 1.5 million staff. This represents around 20% of total employment in the private sector, public corporations and non-profit organisations.
- A general staff database of over 550 job titles and 10 job families across all industries for 10 geographical locations based on a combination of South Africa's provincial boundaries and main economic activity centres.
- A top executive database of 37 executive job titles including data collected from over 5000 executives nationally.
- Data collected from employees in diverse locations and varying organization types and sizes.
Work Dynamics can provide you with a third party independent assessment with results delivered as quickly as 48 hours.
- We can benchmark your salaries against comparable positions in our database.
- We can objectively assess your present compensation structure against that of other businesses in the industry.
- We can produce a comprehensive salary grid, along with analysis, that shows where your organisation's compensation compares by region, industry, etc.
- We can benchmark salaries of merging entities as part of due diligence.
- We can provide remuneration benchmarks for work permit applications.
- We can provide market-related remuneration benchmarks for loss of earnings cases.
What is available to you?
- A statistical report, showing typical market pay and benefits information according to your specifications.
- A comparative report is offered, expressing market practice for basic salary, total guaranteed package and total cost of employment for the role(s) benchmarked. The market upper quartile, median or lower quartile for your specific location and industry will be reflected.
How can you benefit?
As a result, Work Dynamics's salary benchmarking provides you with a quick, reliable and cost effective means of surveying the marketplace, enabling you to:
- Develop salary bands and/or remuneration policies.
- Improve employee retention.
- Guide remuneration for new recruits.
- Compare total cash and total remuneration packages with competitors.
- Calculate next year's salary increase budgets.
- Target remuneration fairly and equitably.
Clients which have benefited from our service:
- Pep Stores: Remuneration benchmarking for executives and senior management for information technology
- Capespan: Remuneration benchmarking for executive management
- Pearson Group: Remuneration benchmarking for the entire group
- NMC: Remuneration benchmarking for executive management
- Fresh Produce Terminals: Remuneration benchmarking for the whole organisation
- Grant Thornton: Remuneration benchmarking for financial positions
Contact Information
For more information contact Francois Wilbers at +27 21 913 8371,
+27 82 881 7730
or John Vasicek at +27 21 913 8371,
+27 78 893 9077 or remuneration@workdynamics.co.za.
