Have you ever wondered if you’re being remunerated fairly per your real market value? Employment Hero, the global employment authority and leading HR, payroll and recruitment SaaS solution designed for Australian businesses has just launched a game-changing tool that empowers employees to easily uncover their true salary worth.

SmartMatch is Australia’s most accurate salary benchmarking tool to exist – even outshining the ABS* which releases data based on samples of 18,000 jobs and 3,000 companies.

Unlike these traditional reports based on small samples, SmartMatch taps into real-time, often up-to-the-minute data from more than two million employees and 300,000 businesses to give you the real story on salary trends. Job seekers can also use the platform to discover higher-paying jobs that align with their skill sets, experience and industry.

And for employers, it’s the first truly accurate resource to make competitive and informed decisions on pay and perks – ensuring they stay ahead in the difficult game that is attracting and then retaining top talent. SmartMatch also indicates exactly what competitors are paying their employees, and then outlines how to use non-salary benefits to become a more attractive employer.

The platform seems to ensure all parties find their ‘perfect fit together’.

Real-time, real salary data and real opportunities

SmartMatch goes beyond traditional salary tools which are often out-of-date and informed by user-submitted-data, surveys and job listings. In addition to this added functionality, the platform will continue to pipe relevant talent to employers which allow them to make faster recruitment decisions – while job seekers will continue to view and apply for previously hidden job opportunities.

For employees

SmartMatch delivers real-time salary insights and market value assessments to empower employees and job seekers to discover their true worth, or if not, find higher paying opportunities. They will be able to:

• Discover their true market value and the real value of their skills and experience in the market
• Unlock strategies to boost their pay by up-skilling, transitioning to new roles and understand what employers are looking to offer for their job
• Find higher-paying opportunities within their existing skill set, whether in the same position or in new ones
• Compare their value to others in the market to see how they stack up

For employers

SmartMatch delivers real-time salary data, market insights and advanced matching capabilities which empowers employers to make more informed decisions on compensation, retention and hiring. They will be able to:

• Access the latest salary data for any role in real-time, based on the wages of millions of employees
• Confidently ensure they are paying their team fairly
• Gain an edge by knowing what their competitors are paying
• Proactively assess if their team is at risk of leaving based on their salary and benefits
• Uncover the potential to hire top talent within their budget by adjusting parameters like location and experience level to embrace a global remote workforce
• Explore the impact of expanding their salary limits to attract higher expertise and more experienced talent

Getting paid your worth

Employment Hero CEO and co-founder Ben Thompson says SmartMatch is providing unprecedented transparency for both employers and job seekers.

“Employers are now able to view salaries and talent in a way that traditional job boards and benchmarking tools – which lack live and accurate data – simply cannot match. We have real-time, region-specific payroll data, so we know the exact salary ranges for specific roles all across Australia,” he said. 

Transparency required for a traditionally taboo topic

The data released from Employment Hero’s inaugural SmartMatch Employment Report revealed year-on-year media wage growth of 8.8 percent. These figures are more than double the WPI (wage price index) growth figure released by the ABS back in May – which report 4.1 percent annual wage growth*.

“There is currently a lack of real-time transparency in the employment marketplace and what someone is worth today is not necessarily what they were worth yesterday. As it stands, the data that employers and employees have access to is either outdated, unverified or doesn’t reveal the complete picture. This is especially true with wage data, and as a result, the market is negotiating blindly,” says Thompson.

Employers and job seekers can visit smartmatch.employmenthero.com now to discover their true worth and find their perfect fit.

*The ABS’ Wage Price Index is issued quarterly and based on a sample of 18,000 jobs drawn from 3,000 price and public sector businesses. In comparison, SmartMatch wage data, employee growth numbers and median hours worked is drawn directly from 300,000 businesses and more than two million employees on the Employment Hero platform globally and is informed by real-time payroll data. In addition, the SmartMatch Employment Report is issued monthly. Additionally, the ABS focuses on base pay while Employment Hero’s data analyses the full compensation package which include base pay, bonuses, commissions and other forms of remuneration, and is broken down by stage, industry, age and employment type.