Benchmarking in Workleap Compensation lets your organization compare its internal compensation data with live, trusted external market data, helping you make informed decisions during compensation reviews or when hiring new employees.
Workleap Compensation benchmarking helps answer questions like:
Are we paying employees competitively for their role and location?
Where do our pay bands fall compared to market benchmarks?
How can we align compensation with our business goals?
How it works
Workleap partners with leading compensation data aggregator Mercer to let you compare your organization's pay bands to others around the world based on:
Job title.
Location.
Company size.
Industry.
Percentile selection (e.g., 50th, 75th, 90th percentile).
Note: Workleap Compensation benchmarking does not rely solely on internal job titles. Instead, it maps job descriptions and attributes to benchmark job titles for more accurate comparisons.
Example
Let's say you want to know the average compensation for Level 3 Software Engineers in the Toronto area.
In Workleap Compensation, you could:
Select a job title most aligned with the role (i.e., Level 3 Software Engineer).
Choose filters that align with your target location, company size, and industry.
Select a percentile that reflects your organization's strategy.
View market compensation data based on your selections.
From there, you can:
Compare your organization's compensation to market benchmarks.
Use the benchmark results to create, update, or validate pay bands.