Competition: The Invisible Enemy of Compensation Planning

By John Kenney (Sales Benchmark Index: Sales & Marketing Effectiveness Blog)

Each year, HR professionals pay for benchmark compensation data. For many, the information is the nearly the same each time. Some fractional movement in the average rates is announced. There’s a nagging sense of dissatisfaction. Is it worth the cost to learnimages so little? HR leaders want to know what the competition is paying. The benchmark doesn’t really answer the question – it feels like a waste of money.

The benchmark is routinely funded in the HR budget. So the annual tradition continues. This is the year to shake things up. Competitive intelligence is the key.

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