Aligning HR and Finance with Benchmarking + Labor Costing

Download Slides Here 

Download the Recording Here 

On September 10, 2025, TrueComp hosted an engaging webinar titled Two Tools, One Clear Picture: Aligning HR and Finance with Benchmarking + Labor Costing, exploring how public sector agencies can optimize labor costing and benchmarking processes to make more informed compensation decisions. Led by Derek Lee, Sales Engineer, and Melanie Currid, Training and Enablement Manager, the session highlighted practical strategies and real-world use cases for agencies navigating complex budgeting and staffing challenges.

Streamlining Labor Costing

Derek and Melanie demonstrated how the Labor Costing module allows agencies to:

• Quickly compare multiple budget scenarios without juggling multiple spreadsheets
• Customize cost categories and variables to fit each agency’s unique needs, from salaries to allowances
• Track and visualize the impact of changes, such as a COLA increase or benefit adjustment, across all relevant positions
• Duplicate projects year-over-year, saving significant time during budget updates while ensuring accuracy

This module reduces spreadsheet errors and gives agencies greater confidence in forecasting labor costs and planning for negotiations, whether in bargaining or non-bargaining states.

Benchmarking for Strategic Decision-Making

The Benchmarking module enables agencies to compare themselves against peer agencies, analyzing:

• Base salary and total compensation, including benefits, retirement, and time-off packages
• Compensation trends across multiple comparator agencies, helping agencies identify areas where they may be underpaying or overpaying
• Job descriptions and classifications, ensuring accurate comparisons even when job titles differ between agencies

Attendees learned how benchmarking can identify problem areas proactively, helping agencies develop competitive compensation strategies to attract and retain top talent.

Integrating Labor Costing and Benchmarking

A key insight from the webinar was the synergy between the two modules:

1. Identify gaps: Benchmarking highlights where salaries or benefits may lag behind peers
2. Model solutions: Labor costing simulates the financial impact of adjustments to salaries or benefits
3. Plan effectively: Agencies can present accurate, scenario-based budgets to stakeholders with confidence

Real-world examples demonstrated how an agency could address underpayment in a specific classification and calculate the multi-year cost impact, streamlining decision-making and resource allocation.

Key Takeaways

• Both modules are highly customizable and tailored to each agency’s needs
• Proactive benchmarking and detailed labor costing reduce reactive decision-making and improve employee retention
• Agencies gain a holistic view of compensation, balancing competitive salaries with benefits and other costs

To learn more about how TrueComp can help your agency optimize compensation strategies, contact us today for a personalized demo.