Practice Market Benchmarking - 2.2 | Compensation & Total Rewards Strategy | Human Resource Advance
K12 Students

Academics

AI-Powered learning for Grades 8–12, aligned with major Indian and international curricula.

Professionals

Professional Courses

Industry-relevant training in Business, Technology, and Design to help professionals and graduates upskill for real-world careers.

Games

Interactive Games

Fun, engaging games to boost memory, math fluency, typing speed, and English skills—perfect for learners of all ages.

Typing
Memory
Math
English Adventures
Knowledge

2.2 - Market Benchmarking

Enroll to start learning

You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.

Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is market benchmarking?

💡 Hint: Think about measuring salaries against other companies.

Question 2

Easy

What tool is primarily used in market benchmarking?

💡 Hint: It's a resource for gathering data.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What does market benchmarking help organizations achieve?

  • Reduce costs
  • Increase sales
  • Attract and retain talent

💡 Hint: Consider why companies might want to know how they compare.

Question 2

True or False: Salary surveys provide the core data needed for market benchmarking.

  • True
  • False

💡 Hint: Think about what resources companies rely on for this information.

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

You are the HR manager for a medium-sized company. After reviewing market data, you find out your salaries are consistently below market average for pivotal positions. Discuss a strategy you would implement to address this issue.

💡 Hint: Consider ways to communicate changes to employees and maintain budget limits.

Question 2

Consider a scenario where a competitor offers higher salaries for the same positions you hire for. What steps would you take to remain competitive without necessarily increasing salaries?

💡 Hint: Think about what other incentives can be attractive for employees.

Challenge and get performance evaluation