Attract and Retain the Best Talent with Benchmarking Software
Do you know how your average salary increases stack up in your region? Are you paying a higher or lower percent of medical insurance premiums compared to other companies of a similar size? Where does your retirement plan match rank in your industry? CEO’s, other C-Levels and VP’s of HR struggle in answering these questions without good information. The conventional way to get to this information is typically expensive and generally not relevant to their size or type of business. Therefore, these leaders have to make best guesses and may put programs in place that won’t address the needs of their employees, their business or the marketplace. For these potential differentiators in attracting and retaining talent, visibility into how your averages fit in your market segments is critical for your awareness and strategic planning to gain a competitive edge looking forward.
To address this challenge we have introduced Ascentis Benchmarking software. It is a comparative analytics tool which enables executive and HR leadership to view their own company’s values for key metrics and assess how they measure against standards for their markets.
Ascentis Benchmarking provides a clean summary view for all delivered metrics in one place – a quick snapshot for each metric of measurement and whether that value is above or below the overall norm. From that top level visual, the user can select any individual metric (i.e., Average Salary Increase or Benefits Spend per Employee) to explore the rich data in more detail, to include year-over-year trending and filters to isolate specifics. All data in Ascentis Benchmarking are refreshed monthly and will automatically update all dashboard views.
Ascentis Benchmarking software provides data that are analyzed in several ways:
- Company profile for benchmarking – including assigned region, industry, and size, each of which can be overridden for modeling purposes.
- A single intuitive chart comparing your values to the averages of each market in your profile
- Year-over-year trending for measures supported by such historical data
- Averages for all company sizes and geographies
Data may be filtered to further understand the benchmark. Users can select different time constraints (i.e., 3, 6, or twelve months) and all comparative charts will dynamically refresh to expose data that aligns with the filters.
Contact us today to learn more.