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How can you present compensation benchmarking and analysis to stakeholders?

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Compensation benchmarking and analysis are essential tools for staff development, as they help you align your pay practices with the market and your organizational goals. However, presenting these data to your stakeholders can be challenging, especially if they have different expectations or perspectives. How can you communicate your findings effectively and persuasively? Here are some tips to help you prepare and deliver your presentation.

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1 Know your audience

Before you start creating your slides or report, you need to understand who your stakeholders are, what they care about, and what they need to know. Are they senior leaders, managers, employees, or external partners? What are their roles, interests, and pain points? How familiar are they with compensation concepts and terminology? How will they use the information you provide? Answering these questions will help you tailor your message, tone, and level of detail to your audience.

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?? Jon Folse ??

Sr. District Manager | ADP | Major Account Services
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I think one of the best pieces in presenting this data for stakeholders is the cause and effect. I also think this is where most analytical technologies fall flat. They can provide the information but there are no questions as to how to interpet the data or what it actually means. An example would be providing a story board like presentation on this data with factors such as where this data was derived from, how it relates to the organization/industry, its authenticity and what items to correct/review ongoing.

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Eric Smith, CPP

Senior Security Executive | Security Director | Threat Assessments | Lead Investigator | Trainer | Protective Intelligence | Author of Workplace Security Essentials
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One of the first steps in planning your approach is to understand what the pain points are and build your presentation in a way to address those of the audience. Executives may be focused on more than one area, such as both budget and employee engagement. Tie your presentation into both areas for maximum benefit. In recent years, it has been very hard to fill many positions. The obvious answer is to look at compensation as a means to attract good employees, but being able to tie that into other areas is vital. Be prepared to address the impact on the budget, as well as the benefits. With security staffing, a shortage can be a major negative with staffing and result in turnover and poor engagement.

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2 Define your purpose

Next, you need to clarify the purpose and scope of your presentation. What are the main objectives and outcomes of your compensation benchmarking and analysis? What are the key questions or issues you want to address? What are the assumptions, limitations, and sources of your data? How do you measure and compare your pay practices with the market? How do you account for different factors, such as job level, location, industry, and performance? By defining your purpose, you can focus on the most relevant and meaningful data and avoid unnecessary or confusing information.

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Eric Smith, CPP

Senior Security Executive | Security Director | Threat Assessments | Lead Investigator | Trainer | Protective Intelligence | Author of Workplace Security Essentials
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If you are looking at compensation, it is very likely that it is due to turnover or the lack of qualified applicants. That is a good place to start. Especially if you can tie in exit surveys that help explain why people are leaving. Anymore, it is fairly easy to do some market research to find out what other companies are paying in the market. In CO, for example, it is required to include salary information in the job posting, so research of similar jobs can help determine if you are in the same ballpark, even if an exact match if difficult. Talking to others in the industry is important as well. Even competitors will share their stories in professional association meetings, at least to some degree.

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3 Tell a story

Engaging your audience and conveying your message can be done effectively by telling a story with your data. Instead of just presenting numbers and graphs, explain their meaning, why they are important, and how they relate to your goals and challenges. You can use a simple narrative structure, such as beginning with a hook to capture attention, providing context for the presentation, showing the results and insights from your data, making recommendations based on the results, and ending with a call to action. Explain compensation benchmarking and analysis, highlight gaps, trends, and opportunities in pay practices, suggest actions or solutions to improve pay practices with evidence and rationale to support them, and invite the audience to take the next steps or follow up. Finally, summarize your main message and thank them for their time.

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Eric Smith, CPP

Senior Security Executive | Security Director | Threat Assessments | Lead Investigator | Trainer | Protective Intelligence | Author of Workplace Security Essentials
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If you are analytical (and I definitely can trend that way), it is very easy to overwhelm the audience with numbers and data and come across as wonky. It is well worth the time to pick the data that actually tells the story and makes the point you are trying to get across. It should have a beginning, such as we have only 60% of our positions filled. Then move to the middle, which may include some data, such as the amount of overtime to cover open shifts. Market research can point out any shortcomings in the current compensation plan, helping move to the conclusion where you make your recommendation. Don't forget to be creative. In terms of compensation, you may consider other perks to attract good candidates, such as flexible schedules.

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4 Anticipate questions and objections

No matter how well you prepare and present your data, you may face some questions or objections from your stakeholders. To handle these situations, it is important to anticipate the possible questions and objections and prepare your responses in advance. You can also use some techniques to address them, such as acknowledging their views and concerns, asking for clarification or more information if you are not sure what they are asking or implying, providing your answer or explanation in a clear and confident manner using facts, data, and logic to support it, and checking if they are satisfied with your response or if they have any further questions or comments.

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5 Practice and refine

Finally, you need to practice and refine your presentation before you deliver it to your stakeholders. You can rehearse your presentation in front of a mirror, a colleague, or a friend and ask for feedback. You can also record yourself and watch your performance. You should pay attention to your content, structure, language, voice, body language, and timing. You should also check your slides or report for errors, typos, or inconsistencies. By practicing and refining your presentation, you can improve your confidence, clarity, and credibility.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you present compensation benchmarking and analysis to stakeholders?

1

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3

4

5

6

1 Know your audience

2 Define your purpose

3 Tell a story

4 Anticipate questions and objections

5 Practice and refine

6 Here’s what else to consider

Staff Development

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How can you present compensation benchmarking and analysis to stakeholders?

1

2

3

4

5

6

1 Know your audience

2 Define your purpose

3 Tell a story

4 Anticipate questions and objections

5 Practice and refine

6 Here’s what else to consider

Staff Development

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