'The world we live in is vastly different from the world we think we live in.' The ever changing nature of today’s recruitment market means it is more important than ever to make use of benchmarking in your recruitment decisions.
Fircroft understands the importance of understanding salary trends and current market conditions which in turn, helps you to understand, effectively forecast, and attract and retain talent. With close to half a century of experience, Fircroft has extensive experience in performing in-depth salary rate surveys.
The benefits of benchmarking to your business
Benchmarking ensures that you are not overpaying or underpaying contractors, which in turn results in better value for money, improved contractor retention rates and allows for a fair and reasonable rate of pay to be offered to contractors in line with competitors. Vitally, benchmarking means that you can make informed decisions about contractor pay and benefits.
The Fircroft approach to benchmarking
Fircroft’s extensive experience in the industry means we have the knowledge and capability to provide in-depth pay rate and market analysis. The biggest tool at our disposal is our own internal database of real time recruitment processes. Fircroft also utilises our local management teams who are best placed to understand local market conditions, economic factors and pay rates.
Fircroft: the business of choice for benchmarking
Fircroft has contracts with all of the super-major IOCs and for the majority of these clients we undertake periodic salary benchmarking exercises. These exercises vary immensely from client to client, given that our benchmarking service is offered on a bespoke basis.
For one of our largest IOC clients with whom we have a long-standing relationship, we undertake a large benchmarking exercise on a bi-annual basis. This report contains salary rates for their entire global operation, on a country-by-country basis. Using our experience, market intelligence and with local input from our regional offices we provide a detailed and comprehensive salary rates survey with each country broken down further into job titles, and low and high expected rates, with consideration given to currencies, exchange rates, burdens and country uplifts amongst others.
Get the measure of your recruitment. Speak to Fircroft.