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Market Review

Market Review and Market Analysis

market analysis
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Understanding who you compete with for talent and how much they pay is essential for you to attract, motivate and retain employees. Market analysis will help ensure you understand your market and that your organization remains competitive. We will examine market data, (base salary, target cash compensation and long-term Total Compensation), pay practices and trends and identify where your business is positioned relative to the market and show you where opportunities exist.

Companies value Market Reviews and Market Analysis because:

  • Awareness of current position relative to your strategy is essential to ensure your salary budget dollars have the greatest impact
  • External advisors can provide a “new set of eyes” on your approach separate from “the way we’ve always done it”
  • The widespread availability of on-line salary data can easily pry away your best talent if market data is not highly valued

Our experience in Market Reviews and Market Analysis includes:

  • Firstly, selection of the best comparators of survey data by industry, geography, company size or other relevant scoping
  • Helping you identify and participate in published surveys that can provide you with the most relevant data for your organization
  • Determining how to best group jobs into salary / pay structures based on market value
  • Working with pay data and pay practices in over 100 different countries
  • Finally, designing and delivering manager training on various pay programs and topics to enhance understanding and effectiveness

We will evaluate the characteristics of your competitive market and provide thorough market analysis recommendations based on your company’s compensation philosophy and goals. You will come away with a clear view of which steps to take to ensure your organization remains competitive in today’s economic climate.

Salary Structures, Job Architecture and Salary Surveys are related services to Market Review: Salary Structure | Pay Grades | Pay Ranges. Job Architecture | Alliance Compensation. Salary Survey Submission | Alliance Compensation

See all services at https://alliancecompensation.com/services/. View related testimonials at Home – Alliance Compensation. Contact Nancy Ellington for more information, Our Team | Alliance Compensation.

Finally, here is a link to an article on market data: (2024 Increase in Minimum Wage) (O’Brien, Michael J., Workspan Daily, Jan 19, 2024). © WorldatWork, 2024. Worldatwork.org/membership.