Download Salary Benchmarking Worksheet Free Excel Template

Filter by Categories
Select all
Budget
Business Statements
Calendars
Federal Income Tax
Gantt Chart
GST India
Health, Logs and Personal Trackers
Inventory
Investments
Invoice/ Bill
Payroll & HR
Project Reports & Timelines
Purchase Order/Requisition
Quotation
Sales/ Marketing
SWOT Analysis
Timesheet/ Attendance
UAE VAT
UK VAT
Filter by File Types






Introduction

In general parlance, Salary benchmarking or compensation benchmarking is the process of comparing the compensation and benefits packages of an organization against those of other companies in the same industry or geographical location. The aim of salary benchmarking is to ensure that an organization’s salaries are competitive and aligned with the market.

This excel template is helpful for HR Professionals, Payroll Consultants and business leaders.

How is salary benchmarking or compensation benchmarking done ?

Salary benchmarking typically involves collecting data on various factors such as job title, job description, experience, education, and location. This data is then analyzed to determine the market rate for each job role, which can be used to adjust an organization’s compensation packages to match the industry standards.

Salary benchmarking can be done using various sources such as industry reports, surveys, and online resources. One of the famous online tool is using CompTool, which provides data on various industries and organization.

The data collected through benchmarking can be used to identify any gaps or discrepancies in an organization’s compensation structure and to make informed decisions about salary adjustments, bonuses, and other benefits. This activity also helps to maintain fairness and equity in the workplace, which can improve employee satisfaction and morale.

Checkout : Salary Benchmarking with Discounts and Premiums

Features of this salary benchmarking excel template

This Salary Benchmarking Report Template will help you formally set up and track salary benchmarking in your organization and help you measure internal progress, performance against competitors and how your processes rank against other organizations.

After downloading this excel template, you will find various worksheet, each worksheet is interconnected and can help you in conducting the benchmarking easily. With this template, you can derive the following benefits –

  • A structured and clean excel template to compile and manage your employee baseline salary data.
  • A template to help you record market data to benchmark employee salaries against.
  • Large numbers of employee salaries can now be automatically benchmarked using VLOOKUPS and formulas to reveal the pay gaps.

After conducting the activity, you can use presentation templates to showcase your findings and summary of assessment.

Download and use salary benchmarking excel template

Now, let us look into how to use this salary benchmarking template. You should have Microsoft Office/ Microsoft Excel installed in your system.

Post installing Excel or Spreadsheet, download the zip file of this template, extract the template using WinRAR or 7Zip decompressing software. Once extracted, you can open the file using Excel and start entering data or customizing the template. You can change currency and fields but with caution.

Click the button below to Download Salary Benchmarking Worksheet Excel Template

By Downloading this Free Excel Template, it is implied that you comply with Download Instructions

Download Instructions

If the excel templates can not be downloaded, Leave us a feedback at admin@exceldownloads.com. We will solve the related problems/ query for you as soon as possible. All Excel templates and dashboards and tools are sole property of exceldownloads.com. As a User, you can download and use the excel templates, dashboards and calculators for personal and business use with no payment i.e. for free. But without permission, you can not distribute it on the Internet website or any other online or offline medium !

Without permission granted from us/ management team of ExcelDownloads.com, use of these excel templates and dashboards is not allowed. However, if you want to share this templates and dashboards with your friends and peers, we have provided sharing option in various social media and platform via which you can share our content.

We hope that you can get our help in making your personal and business activities easier with the use of free excel templates and dashboards, and at the same time, support the construction of our website by considering our efforts and aforesaid instructions.