Remuneration

1. The Market Rate

Establish the market rate, as a starting point.

Paying the market rate involves careful job evaluation (so you know what's being compared) and external research (word-of-mouth, advertisements, published surveys).

1.1 The skills needed may be widely available.

• Compare rates at local employment agencies and Jobcentre Plus.

1.2 The job may demand specialised skills.

• National newspapers focus on specific skills areas on different days of the week.
• Refer to published pay reports by Brook Street, Hay, Monks Partnership and others.

1.3 You may require highly specialised skills.

• Going rates are usually easy to check in professional journals.
• Job advertisements in the specialist press often inform candidate's expectations.
• It may be worth commissioning a bespoke salary survey, if it helps you get the right person for a specialised role.