In order to view or edit your market data associations, you can navigate to Benchmark View in the upper right hand corner “view.”
You can also access, view, and edit your market data associations by clicking on the Benchmarking sidepeek in Table View or clicking “Manage” to go directly to the Benchmark View of that job family and ladder.
The main actions you’ll want to take from here are:
Update your market associations
You can add many market associations to your band to create the best benchmark:
Choose a data source from your Pave data or third party market data
Filter down to a specific job code, title, family, level, country
Choose a percentile
Review the # of employees and # of countries to identify the best benchmark
Use the + icon to match market data to your band
Update the weights to create your composite benchmark
A composite benchmark is a summary of the benchmark(s) associated with the band, with or without weighting
You can weight multiple benchmarks together to create your composite benchmark by inputting a different weight under the weight section in benchmarking view
Weights will automatically show as 1
You can think of weights as ratios, so if you had two benchmarks each with 1 weight, they would be weighted equally. If you wanted to weight one at 60% and the other at 40% you could add 6 and 4 or a ratio of 3 and 2.
Update the visibility of different associations on the band visualization
- In table and chart view, only the composite benchmark is visible on the band visualization, not the individual market data associations.
- In benchmark view, the different market data associations and the composite benchmark are visible on the band visualization
- If you don’t want specific market data associations to impact your composite benchmark or you don’t want to see them on the band visualization (but want to reference them in the benchmarking expanded view for that band), you can toggle the visibility of the benchmark using the “eye” icon on the associated row.
- If you make the weight 0, the association will no longer impact the composite benchmark and will still be displayed on the band visualization but at a lower opacity.
- If you no longer want to use the market data association for benchmarking, you can delete it using the “X” icon on the associated row.