Lowe's Benchmarking Case Study

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Lowe’s perform benchmarking of key company jobs on a bi-annual basis. The purpose of benchmarking is to collect data for comparison on the salaries and benefits other organizations are providing employees in similar jobs, similar organizations, in the same geographical region. Benchmarking provide valuable information to the organization from which they create competitive pay structures and benefit packages. Without competitive pay structures, it would be difficult for Lowe’s to attract and retain high-quality staff.
Lowe’s employs several methods to collect salary and benefit benchmarking data, including national and local salary surveys, sector and industry salary surveys, data exchanges with local organizations, compensation consultants

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