How Can the Compensation Benchmark Review Benefit Your Business?

By   |   June 16th, 2015   |   0 Comments

CBR logo_final’s Compensation Benchmark Review is the leading online Agribusiness salary survey in North America. It is a closed-loop, web-based, agriculture-specific survey offering a wide array of positions with bank grade security. The survey allows the employer to run customized reports and view up-to-date market data.
The CBR can offer a business many things, here are just a few:
1. Preparation for the competition
In today’s job market, better benefits and higher compensation are the top approaches to competing with other employers for talent.1 Thus, providing employers the knowledge to help you compete in the industry.
2. Retention
Ability to reduce your employee turnover and retain engaged employees. It is said losing an employee is estimated to cost employers between 30 and 40% of a hourly employees annual earnings, 150% for salaried employees and as high as 400% of annual earnings for high level positions/top performers.
3. Business Planning
Strategically develop salary budgets by knowing the accurate salary ranges for positions in your industry sector. Allowing you to plan ahead and have more information at your fingertips, helping you make better informed decisions.
4. Reduce time with 24-7 online access
More easily qualify candidates for positions in your organization based on structured salary ranges, any time during your business day.
5. Position Descriptions provides a detailed and in depth position description for each of the benchmarked positions. In addition to using this information for accurate benchmarking, these descriptions can serve multiple purposes such as; creating job postings, updating old job descriptions or creating new roles within your organization. These uses will allow you and your employees to better understand the expectations of the role.
Employers using the CBR find it a meaningful tool for their business, no matter how large or small. For more information regarding the Compensation Benchmark Review, check out the CBR webpage, watch this video, or email us:
1 HR Review, US Data Release 8th Edition, page 9.

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