The Best Compensation Benchmarking Tools for Your Company

Compensation benchmarking is one of the best ways to stay ahead of the competition. By helping companies create strong compensation packages, benchmarking helps support fair pay, builds brand loyalty, and helps attract top talent.

Sounds good, right? But without the right tools, this process is almost impossible to achieve. Step forward, compensation benchmarking tools. These are specifically designed to combine accurate, up-to-date compensation data with a user-friendly platform, making the salary benchmarking process easier than ever before. 

If that sounds good, check out our curated list of the top compensation tools for HR, designed to help you make fair and efficient salary decisions.  

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Why Are Compensation Benchmarking Tools Essential?

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Once upon a time, companies relied on manually collecting the data required for benchmarking. HR teams trawled competitor job adverts, viewed employee-reported data, and bought expensive salary surveys (which were usually out of date before they were even published).  

Those days are over. Or at least, they should be. Now, compensation benchmarking tools have changed the game, by offering access to the kind of accurate, real-time data needed to drive pay equity and transparency. What’s more, they also help companies comply with regulations, optimise compensation strategies, attract top talent, and stay ahead of the competition. 

What’s not to like? But, not all compensation benchmarking tools are made equal. For the greatest impact, here are the features to look out for. 

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Key Features to Look for in Compensation Benchmarking Tools

When creating a shortlist of which compensation benchmarking tools might suit your organisation, watch out for these key features.

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Accurate market data

Without access to accurate and up-to-date compensation data, knowing if your salaries are truly competitive is impossible. Look for salary benchmarking software that offers accurate market data, updated as often as possible.

This data allows you to stay on top of industry trends, making it easier to adjust your compensation packages accordingly. For example, Figures offers access to the most reliable compensation data — updated in real-time. 

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Integration with your existing HR tech stack 

Most organizations have quite a few platforms within their tech stack, for example, payroll, Human Resources Information Systems (HRISs), and HR platforms. 

Being able to integrate your compensation benchmarking tool with these existing platforms means there's one source of truth for all your data. This makes it far easier to make compensation decisions based on real-time, accurate data.

It also cuts down on manual data entry and eliminates the possibility of errors across multiple platforms. 

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Customisation options 

Every company is unique, with its own compensation structures, values, culture, and goals. By choosing a compensation benchmarking tool with a range of customization options, it’s easier to tailor the data to fit your specific needs.

Customisation also means you can create benchmarks based on specific filters like region, company size, and industry. 

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User-friendly interface 

A compensation benchmarking tool can have the best data in the world, but if the tool isn’t easy to use, that data becomes pretty worthless. Choosing a tool with a user-friendly, intuitive interface makes it as easy as possible to create accurate benchmarks, without the need for specialised technical know-how. 

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Top-tier customer support 

Most compensation benchmarking tools come with a learning curve, but if they offer strong customer support, it’s much easier to find out how to get the most from the platform as quickly as possible. 

Many tools also offer free demos, giving you the perfect opportunity to test out the platform and check how responsive its customer support team is. 

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Top Compensation Benchmarking Tools in 2025

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Ready to discover the top compensation tools for HR? We’ve outlined the best six for you to choose from (and we’re a little bit biased — because of course, we think Figures is the top choice!)  

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1. Figures 

Figures is Europe’s leading compensation benchmarking tool — for good reason. Combine an easy-to-use platform with our extensive library of benchmarking data points, and it’s easier than ever before to determine competitive salary bands, tailored to your company’s region, size, and industry. 

‍Suitable for: Mid-market companies and large enterprises. ‍

‍Key features: Compensation benchmarking, compensation review, salary bands, pay equity reports, integration with a wide range of other HR tools,  and SOC II Type certified data security.

‍‍Pros: User-friendly interface, reliable benchmarking data, customizable reporting features, speedy and dedicated customer support. ‍Cons: Best suited for mid to large-sized companies.‍

‍Pricing: Based on company size. ‍

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2. Mercer 

Offering global salary benchmarking data, Mercer is an advanced salary benchmarking data provider with an extensive library of real-time salary data. It publishes an annual Total Remuneration Survey (TRS) alongside an online compensation database and benchmarking platform. 

‍Suitable for: Large companies with global workforces.‍

‍Key features: Tailored salary surveys.‍

‍Pros: Extremely large dataset, easy-to-use platform Cons: Can be expensive for smaller businesses, not real-time data

‍‍Pricing: Custom pricing. 

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3. ADP Workforce Now® Compensation Management

ADP Workforce Now® Compensation Management is designed to help HR teams create accurate benchmarks while staying within budget. It includes a range of features that help ensure compliance with local compensation laws and regulations. The real-time compensation data can be tailored to specific regions, industries, and roles.  

‍Suitable for: Small to large organisations. ‍Key features: Pay equity analysis, salary planning, integration with existing HR tech stacks. ‍

‍Pros: Integrates with other ADP modules, offers accurate compensation data, no real-time data. Cons: May be too expensive for smaller companies, can be a steep learning curve for implementation. ‍

‍Pricing: Available on request. 

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4. Payscale Insight Lab

Payscale Insight Lab is designed to make compensation management easy. It offers a broad range of compensation analytics and benchmarking data, helping HR teams set fair and competitive salaries for a wide range of roles. It also allows for customised salary surveys and offers in-depth compensation analytics.    

‍Suitable for: Medium to large organisations.‍Key features: Compensation analytics, powerful search capabilities, and SOC II Type certified data security. ‍

‍Pros: Large dataset, in-depth analytics, highly customisable. ‍Cons: Expensive, may be too complex for smaller companies, no  ‍

‍Pricing: Available on request.

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How to Choose the Right Tool for Your Company

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There’s a huge number of HR pay benchmarking tools to choose from — so how do you know which one is right for your company? Here’s a quick checklist to get you started:

• Match the tool to your company’s requirements: Consider your company’s industry, size, and location, and make sure to choose a tool that matches those specific requirements. If you’re a small startup from Europe, there’s little point in choosing a US-centric platform designed for large enterprises. 

• Consider your budget: Before signing up for any demos, look at the price of any tools you’ve shortlisted, to make sure they fit within your budget. 

• Make a shortlist and test them all: Most market salary compensation tools offer free demos, so make a shortlist and test each platform out. Consider how easy they are to use, how accessible the data is, and whether they integrate within your existing HR tech. 

• Check out the support on offer: The demo phase is the perfect opportunity to find out what level of customer support each platform offers. Check if you’ll be assigned a customer success manager, and if there’s any ongoing support and training. Look for platforms that also offer a fast response time for any questions. 

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Power in Numbers: How Salary Benchmarking Software is Changing the Game

Companies are under pressure to offer competitive, realistic salaries, while also ensuring the process is as transparent and equitable as possible. It’s a lot to manage, and trying to do so manually is an impossible task. But with the power of a compensation benchmarking tool? It’s quick and easy. That’s why forward-thinking HR teams are turning to these tools to enhance their compensation strategies. Ready to level up compensation benchmarking at your company? Book a demo to see what Figures can do.