BIMA Hangout | Salary Benchmarking: How and Why?

This is a BIMA event. For more information on becoming a BIMA Member visit the BIMA Site or email web@bima.co.uk.

The cost of living crisis is driving a third of marketers to actively seek new jobs due to pay concerns. Economic uncertainty is locking down budgets. And the demand for specific marketing skills makes it difficult to know how to manage your compensation without impacting being able to attract talent, improve employee engagement or retain your high-performers.

Hosted by three compensation experts, this webinar will help you plot a path to confident compensation management. With practical insights, easy-to-action tips and stories from the field that bring pay practices to life.

What to expect:

As marketers are renowned fans of a good story, we will explore this topic through the structure of a three-act play:

Act I – setting up the compensation story:

• Identifying the main characters – your employees, managers and the business
• Understanding their goals and concerns around pay
• Finding reliable sources of data to enable pay review analyses trusted by everyone

Act II – from conflict to climax:

• How to analyse pay review data to drive compensation clarity and confident pay decision-making
• Salary bands – to use or not to use

Act III – the resolution:

• Effective pay communication strategies to resolve conflicts, concerns and queries and provide a sense of compensation closure

You’ll leave with a clear understanding of:

• The three steps needed to underpin a highly effective compensation strategy for your organisation.
• The importance of sourcing relevant market data that doesn’t break the bank.
• How technology can save you tonnes of time by finding and analysing appropriate pay data for you.

How to use this data to:

• Create a job family architecture
• Benchmark your roles
• Identify roles where you’re under or over paying
• Create a strategy to adjust individuals’ pay
• How to apply your communications expertise to compensation comms so you boost engagement and trust with your compensation processes, leaders and your business.

Who is it for:

• Finance
• Operations
• HR
• Department Heads / Management Team, such as:
• Creative Directors
• Heads of Digital
• Heads of Strategy
• Client Services Directors
• Technology Leads

Your Speakers:

Alistair Fraser

Alistair is on a mission to help start-ups and scale-ups build trust through fair, transparent, and scalable pay strategies.

While the topic of compensation transparency may make some people shift uncomfortably in their seats, he’s here to tell you that the journey towards transparency doesn’t need to be as daunting as you think.

Be Fair. Be Transparent. Build Trust.

Becky Hewson-Haworth, Employee Reward Communications Consultant, Clarion Call Communications

An HR professional turned freelance copywriter, turned employee reward communications consultant – this lady IS for turning! Becky helps businesses communicate their pay, benefits, bonuses and total reward packages, driving understanding and engagement with these emotive topics.

Josephine Groom, Co-Founder, Compensation IQ, Josephine Groom Communications

BIMA member and COO. Josephine has worked as a people operations lead for UK businesses for a number of years. Now working on helping People Teams answer the question: “where can I find the right data to support my pay and performance review process?!”.

Your data is important to us and we’re committed to protecting it. We have updated our policy to make it easy for you to understand your choices and the control you have over your data. Please review here.