Why Is Buying Benchmark Data Beneficial?

Market-Oriented Compensation: A Must For Success

Market-oriented compensation is not just a nice-to-have; it's essential for any company aiming for long-term success. It helps attract and retain the best talent, ensuring your employees are fairly compensated and feel valued, which boosts motivation and productivity.

Create Transparency & Trust

Benchmark data provides the transparency needed to make informed decisions. It offers current and precise information about salary structures in your industry and region, allowing you to review and adjust your compensation policy. Transparency builds trust with your employees and potential candidates.

Save Costs Through Targeted Investments

While buying benchmark data may seem like an additional expense, it can help you save costs in the long run. Access to current market data enables you to invest in areas that significantly impact your competitiveness, avoiding overpayments and identifying areas where you can be more competitive without breaking the budget.

Make Data-Driven Decisions

In an increasingly data-driven world, making informed decisions is crucial. Benchmark data provides the necessary information to base your compensation strategy on solid facts. It offers structured information for salary reviews, discussions, recruiting and salary band adjustments, allowing you to continuously optimise your compensation strategy and adapt to changing market conditions.

Secure a Competitive Edge

The competition for the best talent is fierce. Companies that rely on benchmark data have a clear advantage. They can ensure their compensation packages are attractive and competitive, helping them attract and retain the best talent. A well-thought-out compensation system can make your company a desirable employer and strengthen your market position.

Why Is gradar The Best Choice?

Using gradar to purchase benchmark data offers a whole host of advantages. With gradar, you not only get access to high-quality benchmark data but also benefit from seamless integration into your existing gradar account.

When you buy market data from gradar acting as a reseller, we even handle participation for you automatically! We have active reseller agreements with Culpepper and Lurse and encourage you to check out their compensation surveys.

Want to work with a different provider? gradar's automated job matching tool translates job evaluation results into specific benchmark job codes, giving you total freedom and flexibility to choose the benchmark data provider that best fits your needs.

So, here are what our clients say are the key benefits from using gradar to purchase salary survey data:

Efficiency: gradar makes it easy to purchase and upload salary surveys into your account. When you buy Culpepper or Lurse data from us directly, we even handle participation for you.

Accuracy: gradar’s direct integration of data ensures immediate access to current market information, enhancing the efficiency of your compensation analyses and streamlining your rewards processes.

Flexibility: gradar automatically matches your unique job grades to job codes of multiple survey vendors, giving you complete control over which benchmark providers you want to purchase data from.

Conclusion

Investing in benchmark data is an investment in your company's future. It enables you to implement market-oriented compensation, attract and retain the best talent and make informed, data-driven decisions.

With gradar, compensation benchmarking and structuring becomes a whole lot easier. Learn more about our market data functionality and give your organisation the best chance of building fair, transparent rewards structures that comply with emerging pay transparency legislation.

Act now and invest in your company's future – buy benchmark data and stay competitive!