(Solution) 5HR03 Question 8. AC 3.2 Benchmarking data gathered and measured to develop salary insight for the Website Editor

Solution

Benchmarking

Benchmarking: This involves comparing suggested pay with external data for similar jobs, in a similar geographical location, in a similar sector and based on similar skills. When CIPD is used to define market pricing, it does not imply copying of just a market rate – it involves interpreting market rates to guide pay decisions.

Specialist salary surveys

Survey data from median, quartiles of the digital-content roles, including those from reward consultancies and charter-sector companies, are available.

Advantage: Quality-checked data creates the opportunity to differentiate between the size, responsibility and benefit of organisations, which will ensure a more accurate analysis than a general average.

Disadvantage: participation could be selective, information could be out of date and roles might encompass various responsibilities behind-the-scenes. Use the median with caution and after comparing job descriptions and total packages by Mercy Frontier.

Government earnings data

ONS earnings datasets display national and regional distribution of pay for editing, communications or web work.

Advantage: These large samples and consistently applied methods assess if the proposed pay is broadly competitive. Percentiles are more interesting than a single average of skill demands, since the spread for all occupations in the 2.5-digit-Deming group is not the same (Deming and Kahn, 2018).

Disadvantage: The code of the job type can be quite general, and the duties of charity may be non-obvious. These data must be used as a baseline and not the final rate.

Competitor vacancies and recruitment data

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