Daraz, founded in 2012, is Pakistan’s leading e-commerce platform. Originally launched as an online fashion retailer, it quickly expanded into a comprehensive digital marketplace, offering a wide variety of products, from electronics and home appliances to fashion and lifestyle items. Over the years, Daraz has become a household name in Pakistan, connecting millions of buyers and sellers across the country and setting benchmarks in the e-commerce sector.
As the platform continues to grow and diversify, attracting, retaining, and engaging top talent has become increasingly critical to sustaining its competitive advantage. To navigate these challenges and make data-driven decisions, Daraz partnered with Abacus to gain strategic insights into compensation trends, benefits offerings, and market benchmarks. This partnership enabled the company to align its talent strategy with industry best practices while meeting evolving employee expectations.
To stay competitive in the dynamic e-commerce landscape, Daraz needed to ensure its compensation and benefits were carefully aligned with both industry standards and employee expectations. The company faced several critical challenges in this regard:
Competitive Benchmarking: Ensuring that salary structures and pay scales were closely aligned with those of industry peers to attract, motivate, and retain top talent across different functions and levels within the organization.
Benefits Alignment: Evaluating the effectiveness and competitiveness of existing benefit packages to determine whether they reflected current market trends and employee needs, and identifying opportunities for optimization.
Daraz partnered with Abacus to conduct a Sponsored Remuneration Survey, designed to provide comprehensive insights into compensation trends and practices among peer companies. Abacus collaborated closely with Daraz’s HR and leadership teams to deliver:
Salary Structure Comparison: Analyzing Daraz’s salary structures against industry benchmarks to assess competitiveness.
Pay Scale Analysis: Comparing pay scales with competitors to identify gaps and opportunities for alignment.
Benefit Evaluation (Mercer Career Stream): Reviewing Daraz’s benefits in the context of market trends to ensure they remain attractive and competitive.
Recommendations for Improvement: Providing actionable suggestions to enhance existing benefit packages and explore additional perks offered by competitors.
This structured and collaborative approach allowed Daraz to gain a clear, data-driven understanding of where adjustments were needed and how to optimize talent investment strategies effectively.
The partnership with Abacus enabled Daraz to transform remuneration data into actionable insights, leading to tangible benefits:
Informed Decision-Making: Provided leadership with clear guidance to make strategic compensation and benefit adjustments.
Enhanced Talent Investment: Supported improved attraction, engagement, and retention of employees.
Alignment with Market Standards: Ensured employee expectations were in line with industry trends, strengthening satisfaction and trust.
Optimized Communication: Facilitated clearer discussions around compensation and benefits, improving transparency with employees.
For Daraz, this initiative was more than just a remuneration survey; it was a step toward creating a competitive, data-informed talent strategy. With Abacus’ expertise, Daraz gained a comprehensive view of compensation and benefits, enabling the organization to make strategic decisions that enhance employee satisfaction, engagement, and retention while staying ahead in the competitive e-commerce landscape.