RABBIT BENCHMARK
Home / Rabbit Benchmark
Rabbit Benchmark
Rabbit Benchmark, is the process by which a company compares their employees’ salaries with the industry or local averages for similar roles, to ensure that they’re providing competitive compensation. This process may consider factors such as job responsibility, job location, years of experience, educational background, and skill sets. The aim of salary benchmarking is to ensure talent retention by offering competitive and fair wages, attract the best talent in the market, and maintain internal pay equity.
By using Rabbit Benchmark you will be able to evaluate and adjust pay scales based on market trends, businesses can maintain a positive, competitive, and fair work environment.
Rabbit Benchmark methodology and definitions:
Treatment of Zeros
Throughout the reports, zeros have not been used in the calculations unless otherwise specified.
Treatment of Negative Values
Throughout the reports, negative values have not been used in the calculations unless otherwise specified.
Total Direct Compensation and Total Remuneration – Number of Incumbents
The total number of recipients reported for these remuneration types may be less than other compensation aggregates because there may be companies that only submitted cash compensation.
Market Statistics
Descriptive Statistics
Market Statistics
25th Percentile (25th %ile)
The data point that is higher than 25% of all other data in the sample when ranked from low to high, also known as the first quartile.
Median
The data point that is higher than 50% of all other data in the sample when ranked from low to high. Also known as the 50th percentile.
75th Percentile (75th %ile)
The data point that is higher than 75% of all other data in the sample when ranked from low to high, also known as the third quartile.
Mean
The sum of all data reported divided by the number of observations in the sample, also known as average.
Frequency (% Obs/Orgs)
The percentage of the employees/ organizations actually receiving the item based on the total number of employees/organizations in the position.
Compensation Items:
These values may appear in PDF reports.
Base Salary Items:
Monthly Base Salary
Monthly Base Salary – The gross monthly base salary as of the data effective date, excluding any allowances.
Number of Months Paid (Including Fixed Bonus)
The number of times the incumbent receives monthly base salary in a full year including Fixed/Guaranteed Bonus (e.g. 13 months = 13).
Guaranteed Cash Items:
Meal Allowance
The annual guaranteed cash allowance provided for subsidized meals or luncheon vouchers.
Transportation Allowance
The annual guaranteed cash allowance given to incumbents who are not eligible for company car to subsidize transportation expenses to and from the workplace or other business- related travel requirements (e.g. to take up public transport, gasoline consumption, road tax, parking, etc.).
Shift Allowance
The annual guaranteed cash allowance for working on a specialized shift schedule.
Other Guaranteed Allowances
Any annual guaranteed cash allowance not specified above. www.humancapitaldept.com
SURVEY METHODOLOGY AND DEFINITIONS:
Total Cash Items
Short Term Incentive Eligibility
Indicator that incumbent is eligible for a Short Term Incentive award.
Sales Incentive Eligibility
Indicator that incumbent is eligible for a Sales Incentive award.
Short Term Incentive – Actual
All payments received over the 12-month period ending on the data effective date, which are associated with individual, team, and/or corporate performance.
Sales Incentive – Actual
All payments received over the 12-month period ending on the data effective date, which are associated with sales achievement.
Short Term Incentive (Actual) as percent of Base
TheShort Term Incentive -Actual expressed as a percentage of Base Salary.
Sales Incentive (Actual) as percent of Base
The Sales Incentive – Actual expressed as a percentage of Base Salary.
Short Term Incentive – Target
The target amount of the Short Term Incentive award, associated with expected individual, team, and/or corporate performance over the next 12-month period.
Benefits Valuation Methodology Benefits Valuation Assumptions
This section details the assumptions used by Human Capital Department’s to value the main benefit plans. We have applied these techniques, with adjustments where necessary, to the actual features of your plan.
Employee Value
The valuation process has been undertaken from the perspective of employee value as opposed to employer cost. Employee value reflects the amount of gross salary required to purchase an equivalent benefit in the marketplace to replace the benefit provided by the employer. This process takes into account the fact that some benefit plans are tax effective when provided by the employer, so that the valuation is grossed up where the equivalent benefit, if provided by the employee, would be paid out of net salary. Employee contributions have been deducted from these values where appropriate in order to establish the benefit provided by the employer. We value the benefit based on value to a new employee (if he had to purchase this himself). Therefore we assume that all employees are receiving the current benefits available for a new hire.