Our 5-step process
Most mining benchmarking reports are cookie-cutter and don’t give you what you need. Our independent reports are mining-specific and evidence-based, so you can understand exactly where you stand in the market.
Our salary benchmarking clients
Over the past 15 years, we’ve managed bespoke 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.
How long does it take?
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.
Our approach and analysis
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’.
Costs
Salary benchmarking programme (3-4 months) | US$29,500
Includes: In-country mapping exercise, participation management, bespoke benchmarking online survey, salary benchmarking report – Nationals and/or Expats, and debrief session.
Salary benchmarking report only | US$4,500
Salary benchmarking report for a non-participating client.
What our surveys cover
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 STIP’s + 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
Why do salary benchmarking?
Here are seven good reasons why you should consider salary benchmarking for your business:
- Enables your company to be externally competitive and helps you understand what the market or your competitors are offering.
- Promotes internal fairness and transparency of remuneration practices and is used to develop or evolve salary ranges, benefits or employment conditions.
- Informs negotiations with employees and trade unions.
- Assists decision-making with hiring talent decisions and informs the annual review process.
- Informs budgeting, forecasting, planning, and governance.
- Provides independent and evidence-based input for your Feasibility Study.
- Costings and workforce planning.
