What is Benchmark Job?
A ‘Benchmark Job’ is the kind of job for which the salary, as well as other benefits, remain consistent throughout the industry. Hence, this position can be used as a threshold against which other jobs can be benchmarked.
A benchmark job can be useful for both the employers as well as the employees. The employers can make sure that the employee is given adequate responsibilities matching the job title, while also making sure that they are compensated adequately.
On the other hand, the employees will be able to negotiate better salaries in case they are not being paid at par with the benchmark job. This makes sure that both the employees and employers are satisfied.