Adopting the definition of Bevan et al. (2019), reward benchmarking is a process adopted to gather information from the external of an organisation in regard to the different benefits and pay and using the collected data in comparing with remuneration and reward packages provided by others in market for similar roles. As a best practice, PWC (2022) argued on the need for working on job matching which is core to benchmark reliable, accurate and relevant data. The scope of the relevance of the benchmarking data is depended on the quality of the job evaluation process which is also reliance on job description. It is in this regard that CIPD (2022) recommended that reward benchmarking as increasing the overall transparencies and employees engagement, managing costs of rewards and incentives and noting on the likely support of the performance management and developing consistency in personalised reward strategy and recognition strategy. These findings were equally supported by CIPD (2022a) survey report which evidenced the possibility of ensuring holistic and transparent decision-making approach for rewards, trust development with all stakeholders and shareholders.
As a best practice in reward benchmarking for obtaining optimum value, determining comparator sets is essential. According to Panigrahi et al. (2015) the importance of comparator set is to ensure that an organisation which is a target is used to collect the data on pay and including the various roles in the process. The……

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