mentally-strong-blogHMF conducts external market pricing to ensure our clients are competitively positioned to compete for talent in current and future labor markets External market pricing is conducted to calculate the base rate of pay being offered by our client’s competitors for specific jobs performing similar roles and essential functions. Knowing what the competition or comparable organizations are willing to pay is a crucial piece of information when setting the client’s base rate of pay to attract and retain key talent. HMF uses both internal data and valid survey sources to support external and internal equity to establish a consistent, market/competency-based compensation structure.