I have found the development of the Salary Tool a great bonus when it comes to undertaking Salary Reviews. In the past we have relied on other data that is too generic and doesn't specifically meet our needs. Having an online - real time mechanism that is simple to use is a great step forward. We are hoping to use this further and take the mystique out of salary reviews - by having this resource available to our directors to demonstrate the "real market". The Salary Tool is a great step forward for small to medium accounting practices.
We benchmark our salaries to ensure we are competitive within the market place when recruiting new staff. The accuracy of information provided is not always there as firms are not required to provide the detail that is required at Benchmarkme which allows for fairer comparison.
Benchmarking our staff salaries using Benchmarkme provides an objective structured framework for fairness across the firm and gives an insight into the target market enabling more confidence for the firm to ensure we are always up to date with the market. Our staff will feel more secure in their own roles if they know the firm they work for respects them and their profession.
Benchmarkme allows us to have a better understanding of where the 'market' is in order to aid decision making. Ease of use, clarity and accuracy of information, and how current the information is, are key features of prime importance to our firm.