Pay and benefits discrepancies can really impact whether you keep your great employees or lose them to competitors. By comparing packages, you can get a fair and accurate view of the compensation and benefits landscape, empowering you to make informed decisions. This helps you stay competitive, hold on to your amazing team members, and attract top talent. 

We recommend starting your benefits and compensation benchmarking process three months before the hiring project begins or at the end of the financial year. This timing is perfect for evaluating and planning the needed headcounts. 

Our approach involves leveraging our recruitment data, insights from paid partners, publicly available information, and the insights of our exceptional recruitment team. 

It is essential to spend time on benchmarking and to create a well-researched and comprehensive salary and benefits strategy. Doing so can have significant benefits, and you may only need to do it every 1-2 years. However, if there are significant changes in the job market or the economy, you may need to do this more frequently.

Getting the latest and precise salary and benefits data from other organisations can be quite a hassle, and most organisations may not have the resources to spare for it. By involving a third party like CML to handle this task for you, your organisation will gain access to real-time, focused data, along with an independent and unbiased approach that offers clear, actionable recommendations for immediate implementation. It's a great way to stay informed and make well-informed decisions moving forward.