What is Compensation Benchmarking?
- Compensation Benchmarking
- Compensation Benchmarking compares your salary and benefits structure against market data (industry surveys, salary reports) to ensure competitive pay that attracts and retains talent.
Benchmarking Sources
Indian salary benchmark sources: Mercer India Salary Survey, Aon Hewitt Total Remuneration Survey, Naukri.com salary insights, LinkedIn Salary, TeamLease HR Reports. Benchmark by role, experience band, city, and industry. Positions more than 20% below market benchmark create attrition risk.
Salary Grading in ERPNext
ERPNext supports salary grading via Grade masters (linked to Designation). Each Grade has a salary range (minimum/midpoint/maximum). The Salary Structure Assignment stores the actual base salary. Compare actual salaries per grade vs benchmark midpoints using a report built on this data.
Infonoxe Technologies specialises in ERPNext implementation and custom software for Indian businesses.
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