Benchmarking MNC Salaries

Multinational FMCG Company

Quick look

Torc were retained by this consumer products client, to carry out a survey of pay and benefits across a peer group of multinational manufacturing companies located in Ireland.

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The Challenge

As a key foundation for benchmarking salary and benefit provision and structures across all job categories on the manufacturing site, this company sought a consultancy with the capacity to undertake a bespoke survey of comparable companies throughout Ireland.

Torc Response

Torc compiled a list of MNCs, processing and manufacturing companies and, having got approval from the client, approached the companies to participate in a highly confidential benchmarking exercise. We designed bespoke survey materials and methodology and got sign-off to proceed. The exercise was completed in 12 weeks and final reports delivered. Each participating company received a confidential summary report of the findings.

The aim of the project was to provide an accurate picture of compensation policies and practices, focusing on current pay levels across a wide range of comparable job positions; annual salary increase levels and trends, and current practices and developments in fringe benefit policies. The project involved a combination of survey questionnaires, on-site visits & statistical analysis – including the provision of job profiles for each of the 36 positions included in the Survey.

The Result

The exercise is conducted annually and, now in its seventh year, the Torc benchmarking survey is firmly established as the primary source of comparable information for annual salary and benefits planning in this sector.