HR Glossary

What is Salary Benchmarking?

The process of comparing an organization's pay rates against external market data to ensure compensation is competitive and fair.

Why it matters in hiring

Salary Benchmarking comes up whenever teams compare candidates, set policy or report on people data. Getting the definition right keeps decisions consistent, which is the same reason springhire scores every applicant against the same criteria rather than on impression.

Related terms starting with S

• Salary Sacrifice (UK / Australia)
• Saudi Labour Law (Saudi Arabia)
• Self-Assessment
• Self-Paced Learning
• Separation Agreement
• Service Certificate (Singapore)
• Severance Pay
• Shadow Payroll

Part of the springhire HR glossary, 1,150+ HR, payroll and recruiting terms defined. Free, no signup.