Compensation Benchmarking Study

Our client is a large retail focussed organisation with offices in over 100 locations in India. The client faced a challenge in its compensation review, where it felt is was not aligned with its target strategic positioning against its peer group.

We undertook the Compensation Benchmarking project, focusing on sales roles across 100 diverse locations nationwide. The objective was to meticulously benchmark salaries and total compensation for each role, considering years of experience. Guided by a three-month timeline, our mission was to uncover insights that empowered organizations to stay competitive in their compensation strategies.

Challenge

Navigating Diversity and Extent

Geographical Diversity: Covering 100 locations posed a unique challenge in ensuring representative benchmarking across diverse regions, urban centers, and local economies.

Data Accuracy: Ensuring precise compensation data across multiple organizations, roles, and experience levels demanded rigorous data collection methods to guarantee accuracy.

Role Variability: Addressing the nuances of sales roles, which can vary significantly across industries, organizations, and geographies, required a fine-tuned approach to ensure meaningful comparisons.

Solution

Comprehensive Insights

Our approach was designed to encompass every facet of the compensation landscape while maintaining accuracy and depth.

Primary Research Methodology: Through a robust primary research process, we used online tools and databases, and other methods, to identify row-holders in target organisations and locations, and then collect granular compensation data for each role and experience level.
Data Segmentation: We meticulously segmented data based on years of experience, ensuring that compensation insights were contextual and reflective of industry norms.
Geographical Sensitivity: Our approach sensitively addressed the diversity of locations, factoring in variations in cost of living, market competitiveness, and regional trends.
Comparative Analysis: By benchmarking compensation data against industry peers, we revealed comprehensive insights into how each role’s compensation compared on a national scale.

Outcome

Informed Compensation Strategy

The culmination of our efforts was a detailed Compensation Benchmark Study, offering organisations a clear view of how our clients compensation structures aligned with industry peers for sales roles. Armed with this knowledge, our client could refine their compensation strategies to attract, retain, and motivate top talent.