Wednesday, March 7, 2012

Wage benchmark finally?

I was surprised to hear in the budget debate something on wage benchmarking. In fact, it was quite similar to a post that I've written way back in 2010 here.

You can refer to the previous post that I've written but the main reason why I supported it because I feel that certain employers like to take advantage of the employees not knowing the market benchmark of the type of job that they are seeking. With the benchmark, employees will better know the typical salary of that particular job and know what to offer.

The employers are not required to follow it, but if they really wish to hire the good ones, they will know what to do. This may reduce turnover for the employers and this will also even the odds as the employers know the market but very often, not the employees.

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