Salary Benchmarking for the Mining Industry

The process takes about 3-4 months. This includes an in-country mapping exercise, participation management, bespoke benchmarking online survey, salary benchmarking report – Nationals and/or Expats, and a debrief session.

Globe 24-7 and Align Advisors source the primary data by conducting a survey among other mining companies and competitors within the country or across companies with similar size and commodity profiles.

• Market map the country with S&P data to develop the target list of companies to approach for participation.
• Develop benchmarking questionnaire template, including additional data sets requested by the client. E.G. escalating salary inflation, diversity statistics and targets, travel class on flights, schooling.
• Administer survey with targeted mining contributors and participants within the targeted country.
• Benchmark Base Salary & additional data (by level, company rank against competitors).
• Benchmark other Cash data (e.g. annual bonus, monthly paid allowances), benchmark Employment Conditions (e.g. tenure, roster patterns, commute, leave, site amenities, medical facilities).
• Benefits (e.g. provident, rent, insurances, schooling and other significant benefits).
• Conduct ‘As Is’ analysis of company’s staff compared to benchmarks by level (including a comparison to the General Market report).
• Provide detailed salary benchmarks for select ‘Core Positions’.

It depends on the scope of what you need. It can include things like:

Job category:

Job level assignment (1-14), category groupings, and example positions.

Remuneration structure:

• Base salary (P25 : P50 : P75) + allowances + bonuses + cash benefits
• Short term incentives programs (STIP), by weighting, or as a percentage of base salary
• Monthly allowances, benefit + description + coverage + impact + benchmark
• Annual benefits, and STIPs + level breakdown
• Redundancy payments

Salary reviews and contract arrangements:

• Salary review cycle, and average increases
• Contract of employment approach
• Currency of pay
• Remuneration reviews and union negotiations
• Approach to hiring out of country nationals

Commute, rosters and leave benchmarks:

• Transport provided and travel time
• Rosters and hours of work
• Leave entitlements

Accommodation, amenities and facilities:

• Onsite accommodation for Nationals
• Site amenities
• Site motor vehicle use
• Medical facilities

Pension, diversity and well-being:

• Voluntary scheme to supplement employment retirement
• Diversity
• Employee assistance / counselling services
• Employee well being and other services

Here are seven good reasons why you should consider salary benchmarking for your business:

1. Enables your company to be externally competitive and helps you understand what the market or your competitors are offering.
2. Promotes internal fairness and transparency of remuneration practices and is used to develop or evolve salary ranges, benefits or employment conditions.
3. Informs negotiations with employees and trade unions.
4. Assists decision-making with hiring talent decisions and informs the annual review process.
5. Informs budgeting, forecasting, planning, and governance.
6. Provides independent and evidence-based input for your Feasibility Study.
7. Costings and workforce planning.

Over the past 15 years, we’ve managed custom compensation projects for more than 70 companies. We’ve covered process design and implementation, manpower planning, organisational design and benchmarking for mining companies with geographical coverage in Africa, Asia, Europe, Australia, North America and South America.

When you work with us, we’re able to draw on a wealth of data for quantitative based assessment so you can compare and compete with the best.