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LinkedIn launches new salary benchmarking tool

LinkedIn today launched a new crowd-sourced salary feature in the UK.

Called LinkedIn Salary, the tool will allow LinkedIn’s 450 million members to confidentially share their salary information, creating a rich source of insights for employers.

The tool will help employers in three ways:

Stay competitive with salaries

LinkedIn Salary gives employers insight into current salaries for skills and roles in their industry, giving them valuable insight helping them to attract and retain the best talent. 

Headcount and budget planning

For companies setting hiring objectives for 2017, the tool offers transparency into the market rate for talent and skills, allowing employers to more accurately plan and budget for new hires.

Enhancing employer brand

Employers offering competitive salaries can encourage employees to share their salary data confidentially via LinkedIn Salary, ensuring that potential candidates see the most accurate information.

The tool comes as LinkedIn’s recent Work Satisfaction Survey finds that only two-in-five (40 per cent) of professionals in the UK are either very or completely fulfilled at work, with salary being one of the biggest fulfilment factors.

Initially launching in the UK, US and Canada, LinkedIn Salary will roll out to more markets in 2017. The combined data from LinkedIn’s global network of 450 million professionals and unique insights including member skills, education, location, and experience, will give professionals and employers unique insights during the job hunting and recruiting process.

Please see the LinkedIn blog for more information.