From AI ethics consultants to machine learning specialists, demand for these emerging roles will skyrocket, and cutting-edge companies will need to strategise carefully to stay ahead of the curve. This is where salary benchmarking will provide an invaluable bedrock for companies seeking to leverage new talent to fill these new roles. 

As demand grows, a new generation of tech talent is joining the international workforce, springing from tech hubs around the world, including Latin America and India. The big question for HR leaders now is not just how to fill these new positions but how to fairly and competitively compensate for jobs that barely exist yet, many in fields where standardised pay scales are yet to be established.

I see benchmarking for emerging roles not as a luxury but as a crucial part of the recruitment process, ensuring that organisations remain at the forefront of innovation. 

Anticipate talent trends

Salary benchmarking is a valuable tool that helps companies anticipate AI talent trends and maintain their competitive edge in the rapidly evolving tech landscape. This service provides key insights into compensation expectations, market demand, and hiring strategies. Through in-depth analysis of this industry data, emerging AI roles can be identified, and information focus-points such as skill premiums and geographic pay variations can be isolated.

Only then will HR leaders be equipped to confidently implement equitable pay structures and assemble attractive remuneration packages, appealing to the upcoming cohort of elite AI talent. Utilising Salary Benchmarking also supports the bridging of skills gaps – a major issue for UK tech companies, with 34% of organisations struggling to attract the right talent – as well as helping to predict and combat imminent shortages. 

As companies expand hiring beyond domestic talent pools, we see an increasing emphasis on the growing importance of region-specific benchmarking. Closely assessing salary trends and continually benchmarking salaries against local averages will ensure that skilled workers continue to feel valued, thereby strengthening retention and, in turn, reputation within an increasingly competitive marketplace.

Tailor compensation to local markets

The core aim of Salary Benchmarking is to equip companies with all the necessary data to make smart choices regarding salary and benefit offerings in new locations. Offering strong remuneration packages is not only attractive to workers, but also a strategic decision that’s mutually beneficial to both employee and employer. It has been proven time and time again that when workers feel valued, staff turnover decreases, morale soars, and the quality of work improves. Satisfied workers are more likely to drive innovation and remain committed to their organisation. By cultivating a happy, dedicated team of experts, an HR leader can ensure their company remains a step ahead of its competitors. 

Develop retention strategies for at-risk roles

With 92 million traditional roles at risk, HR leaders face an uncertain future. How can they support their at-risk workers, while remaining at the cutting edge of innovation? 

The perspectives provided by Salary Benchmarking will allow for the formation of retention strategies – highlighting areas in which workers can receive training and be upskilled to align with new trends, ensuring that they remain valuable assets to their teams, while safeguarding their future careers. 

Salary Benchmarking is key to competitively futureproofing your organisation as the global marketplace rapidly adapts to the AI revolution. It not only allows organisations to confidently offer competitive remuneration packages to secure new AI talent, using up-to-the-minute data and trend forecasting, but also supports organisations to safeguard at-risk roles by directing upskilling and training initiatives. 

As new roles emerge and traditional ones evolve, HR leaders are now tasked with staying ahead of evolving compensation trends in order to position their companies as industry leaders. Salary Benchmarking means that equitable pay structures can be rapidly developed and implemented, in line with the changing landscape. Navigating this unprecedented level of change is not without its challenges, but embracing Salary Benchmarking to ensure high retention levels and a satisfied workforce means businesses can protect and strengthen their market-leading positions. 

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