Categories: Hiring, Industry 

The success of any organisation hinges on its people. They're the ones driving projects, delivering results, and keeping the business moving forward. But are you doing enough to keep them motivated and happy? A recent LinkedIn survey conducted by our team revealed nearly half (49%) of commercial leaders believe their team's compensation is behind market rates.

This statistic highlights a significant disconnect between how team leaders perceive their compensation packages and the reality for their teams. Furthermore, only a mere 11% believe they offer more competitive compensation than their competitors. This suggests a potential risk of employee dissatisfaction and increased turnover.

What Does This Mean For Your Team?

Here's why this information should matter to you:

• Losing Top Talent: When your compensation falls behind the market average, you risk losing your best employees to competitors who offer more attractive packages. This disrupts your workflow and can take a significant toll on your productivity.

• Demotivated Employees: Underpaid employees are less likely to be fully engaged and motivated. This can lead to decreased productivity, missed deadlines, and a decline in overall performance.

• Negative Employer Brand: Word travels fast, especially in today's connected world. If your reputation is one of underpaying your team, it can make attracting top talent incredibly difficult.

Taking Action:

It's time to take a closer look at your compensation structure. Here are some steps you can take:

• Market Research: Conduct thorough market research to understand what your competitors are offering for similar roles and experience levels. Clearnorth has extensive experience in this area.

• Benchmarking: Analyse your current compensation structure compared to the market data you collected. Identify any gaps between your offerings and the industry standard.

• Competitive Compensation Package: Consider not just base salary, but also benefits, bonuses, and other perks that contribute to a well-rounded package.



By taking a proactive approach to compensation, you can attract and retain top talent, boost employee morale, and drive long-term success.