Employee Benefits Benchmarking is when employers compare or in other words, analyse what their employee benefits to other employers out there. This includes: cost sharing measures, salary, pension schemes and the total compensation.
Employee benefits benchmarking is an advantage to employers; and this mainly because it helps them improve the benefits offered within their organizations. Not only does it help offer better benefits, but it is also a way of attracting and retaining top talent. Therefore, employee benefit benchmarking is a useful way for employers to improve their employees and candidate experience, which will then improve the organization’s branding.