A market rate report provides detailed salary information that is tailored to jobs on an individual, departmental or organisation-wide basis. Many reports are produced on an “as needed” basis; others are repeated year on year to inform annual pay review decisions.
A market rate report can help address issues including:
- A need for external objectivity
- Inconsistencies and anomalies in current practice
- A lack of data in the wider market, perhaps also highly competitive
- Changes to the current reward structure and/or elements of benefit provision
With access to Croner Reward’s comprehensive database, our Research Consultants produce market rate reports for individual jobs based a set of criteria designed to reflect the comparable market, such as sector, location and size.