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<> Product Support In the meantime, if you have any questions, please don't hesitate to contact your survey consultant. 0000004346 00000 n When an employee assumes greater responsibility while continuing to perform the same basic function, it is recognized as an in-family promotion. Compensation, Private Company Employees who have technical or scientific skills are no longer required, or even encouraged, to pursue management roles in an attempt to further their careers if that's not their desired career path or they lack managerial skills. %%EOF 0000003946 00000 n Global levels can be used to determine a position's bonus eligibility, bonus target and equity grant guidelines. If you do not wish to receive these communications, please check here: Reimagine Your Workforce Strategy Let us know how we can help and a member of our team will be in touch shortly. An increasing number of companies in the US are also using global leveling systems as a way to determine eligibility for all types of rewards programs, not just for setting base salary levels. In light of this dynamic, over the past several years, our team has observed a steady shift away from highly regimented job leveling models at technology and life sciences companies, specifically point-value based systems. SunPower We can agree when hiring executives, you want to compare pay levels with appropriate firms. Covers activities requiring an engineering, computer science, or life sciences background that is applied to a problem solution, insight discovery, innovation and product and/or service delivery using information systems, data management or communications vehicles/platforms. Media Contacts This is why we built the Radford Network from the ground up as a platform without borders. As Market Realities Change, Radford's Global Job Leveling Model - Aon ]c\RbKSTQ C''Q6.6QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ - |" We also offer complimentary online and one-on-one training. Employee Experience Study It will likely be to your advantage to use different peer lists for different kinds of jobs. Radford's global leveling approach recognizes this organizational reality by aligning job levels with both the internal value companies place on individual contributor positions relative to managerial positions, as well as the value the market places on each type of job. Annual Salary Budgets: More Than Meets the Eye - radford.com For example, China and India are beginning to show more prominent pay premiums for technical job roles, much like the US, while Japan and Korea seem to show a technical premium only at upper management levels, not at entry levels. Facebook If you do not wish to receive these communications, please check here: Reimagine Your Workforce Strategy 2022 Aon plc. These types of energy are used to generate power for residential, commercial, industrial and transportation customers. These grades are intermediate steps within a global career level that have their own specific base salary or fixed compensation ranges. Square For workstudy opportunities, and to apply for financial aid, visit the Radford University's Financial Aid office online. While regional differences in pay levels exist, the global leveling system enables a company to be consistent in its determination of program eligibility by considering the internal equity of the positions in a given grade and then letting market practices dictate actual compensation levels. SAP, Siemens While the representative body doesn't have legal authority over determining the size of salaries, it does have a voice in the overarching scheme that underpins compensation decisions. Country Profile Reports Intern, New Graduate and Pay Administration Study endobj xref Infographics What we do. To use information contained herein, please write to our team. Press Contacts Philips Healthcare Beyond compensation, our suite of market practice studies are designed to handle your most pressing issues and cover annual salary increases, incentive design, new graduate pay, allowances and more. DoorDash An example of this is an accountant 1 that becomes a financial analyst 2. Until this point, the client had different approaches to managing compensation programs and job grading across its functional areas and business units. At the end of our engagement, the company had the following tools in place: It's important to remember that job leveling systems are helpful for many types of companies from publicly-traded multinationals like the example above, to small, private, local companies seeking a flexible foundation upon which to grow. Newsroom Terms of Use When the Radford Global Compensation Database is used to assist recruiters assign an appropriate hiring range, keep records of the job match for subsequent data reporting and analysis. The Technical/Scientific levels are new and will only be used by life sciences companies. Role is a member of the Board of Directors/Main Board and the most senior position in the organization. The key is to start the process in a transparent manner and to have a strong business case for why a global leveling model will support long-term growth and innovation everywhere that your company operates. In addition, their survey consultants are superb and never fail to deliver top-quality service and products. Location Analysis To be motivating, consider setting objectives and targets that arent too aggressive or unattainable, but require reasonable effort to attain. Contact Us. Employee Experience Study 3 0 obj These promotions usually happen when a requisition is filled by an internal candidate or some form of department reorganization occurs. To make it easier to use and understand the data we provide, all survey data stored in the Radford Global Compensation Database will leverage the same job leveling and job matching methodology called the Radford Global Job Architecture and Leveling System. Pay Equity GE Login | Aon Rewards hbbd``b`$w "$Z @bY qu-# Energy and Renewables Benchmarks, Executive All rights reserved. Once promoted, they move to a job where they are no longer the most senior and often receive below-average pay since they are new to that level of responsibility. Use the interactive maps below to explore our coverage in more detail by country or state: The consolidation of multiple legacy surveys onto a single global platform, while leveraging a unified global job architecture and leveling system, along with a unified job library, creates an unmatched resource for the worlds most innovative and dynamic companies. Covers activities related to firm-wide, function, area or focus level leadership. Source: Radford Global Technology Survey, October 2015 Mid-level professional jobs (level 3, 4 and 5 in the Radford Global Technology Survey) across most job functions reflect statistically significant base salary premiums for new hires vs. incumbent employees at the same level. Radford Renewal 2023 - Aon Around the world, more companies are turning to global job leveling systems as a replacement for their legacy methods of grouping similar jobs across various regions and business unitswhether they currently use a points-value system, generic job descriptions or something else. If instead he follows the dotted gold line and becomes a financial analyst, then he receives an out-of-family promotion. While the representative body doesn't have legal authority over determining the size of salaries, it does have a voice in the overarching approach that underpins compensation decisions. In-Depth Research, Careers Salary Increase and Turnover Study Sets the direction and policies for sales activities and manages the execution of these plans. Whether you're looking for instant results or need to run multiple complex queries, our Quick Benchmarks, Market Queries, and Country Totals tools are optimized to provide you with the power and flexibility you need to mine our data with ease and generate market-leading compensation insights. We also need to be aware of key markets where management talent may be paid a premium over what we typically view as comparable individual contributor positions in a dual career ladder global structure. Compensation Workforce Planning Cisco Systems <> Since July 2017, the total incumbent count for the aggregate of our Radford Surveys and now the Radford Global Compensation Database has grown by 125%. The days of aging stale data and scraping together tidbits of information from the internet are over. Statement | Cookie Notice | Do Not Sell My Data (US Compensation, Email RADFORD GLOBAL TECHNOLOGY SURVEY The landscape for compensation professionals is shifting rapidly in a truly global economy. Radford Data & Analytics Our unified methodology leverages a new building block approach to generating job codes that, while a change for clients, will ultimately be more intuitive to use and support accelerated job-matching processes. Incumbent Distribution of Professional Individual Contributor Positions. The executive peer list is very important to get right. All personal information is collected and used in accordance with our privacy statement. Further, our consulting teams, with offices worldwide, understand the nuances of each market a company might operate in and have the experience and knowledge necessary to customize approaches for the particular location and circumstances of each client. %%EOF However, in Japan, business function roles at the same grade as engineers and product developers are generally higher paid. Accelerate Your Workforce into the Future The Technical/Scientific levels are new and will only be used by life sciences companies. Compensation All rights reserved. This . Even when companies align all of their salary ranges to a single global leveling system, they retain the flexibility to more or less granular in setting specific pay ranges. Radford Job Levels | Now Hiring Covers activity related to the fossil fuels and renewable energy sectors, as well as in mining. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. PDF Career Bands, Career Levels, Functions and Disciplines Market rates can be measured for individual jobs or groups of similar jobs with similar value. For example, the table below illustrates how job leveling systems can address a number of common business concerns: The business challenges outlined in the table above are certainly not unique to the technology and life sciences sectors where a majority of Radford's clients reside; however, these concerns are exacerbated by high rates of growth and rapid demands to evolve business models and talent profiles to meet changing market forces. A consistent leveling structure enables more robust and diverse analytics across sectors, geographies, and jobs. Radford's global sales, technology and life sciences surveys provide companies the basis for creating a job architecture that provides a framework upon which job leveling systems are built. When a hiring manager is opening a requisition, they too have an idea of knowing how much a job is worth. These grades are intermediate steps within a global career level that have their own specific base salary or fixed compensation ranges. Now that we know third-party market data is needed for serious competitive analysis, we need to be sure were pulling the numbers we want from the compensation survey. In contrast to technical jobs that may require a country-wide recruiting effort and technology-specific companies, administrators may best be sourced from local companies where individual skills and experience are applicable and local recruiting is key to cost-effective hiring. Short- and Long-Term Incentive Plan Design Study Subjective approaches, such as intuition, along with internal and external sources of market value of labor can offer a framework for decision making and may be reasonable to use when hiring temporary help or independent contractors. As the technology and life sciences sectors continue to grow at a rapid pace, weve worked hard to enroll the next great wave of innovative companies. Site Map | Survey Data Policy | Email Creating a Market Query Apple Radford Global Technology Survey | Radford Product Resource Center - Aon %%EOF Analytical forms of job evaluation, such as the point-factor approach, continue to dominate the landscape in many European countries due to the regulatory environment, which requires pay equity compliance in collective labor agreements. Compensation, Private Company The most complete job library in the business Our job library is the industry standard for technology firms. First off, global competitors of similar or larger size chosen for executive analysis may include some companies outside your core industry. Corporate Governance %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz Preferences | Legal | Privacy At the same time, the same model was employed by a rapidly growing private online gaming company with multiple large offices in the US and a few smaller satellite offices in Asia and Europe, demonstrating the flexibility of this model across different business types and different job types. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. The chart below illustrates how tweener grades can be developed specifically for Asia within the context of a larger global leveling system. Product Release Notes - Aon The business challenges outlined in Figure 1 are even more prominent in the high-growth technology and life sciences sectors, where companies live and die based on their ability to innovate. Solutions Lower starting pay for new hires can also explain why rates move more slowly overall than you might think. As Market Realities Change, Radfords Global Job Leveling Model Rises to the Challenge, Accelerate Your Workforce into the Future, Workforce Optimization and Transformation, Poor transparency regarding job requirements and career progression, Inconsistent approach to pay decisions for new hires, promotions and annual increases, Uncertainty about appropriate pay differentiation, particularly for similar roles with comparable skills, Create job descriptions for each job family with career matrices defining progression at each job level both with the job family and laterally across job families or functions, Benchmark market pay for each job and aggregate for similar job families at the same job level into functional pay ranges, Clear communication of job requirements, promotional opportunities and development requirements, Structure that provides guidelines to ensure equal pay for equal or substantially similar work, Consistent, unbiased and market-oriented compensation decisions to attract and retain talent. Once the new system was approved by HR and business leaders, we put a robust communication process in place to train managers on using the new system in addition to a messaging platform for announcing the new system to all employees. endobj Regardless of relative internal valuations, we need to attach payto jobs using a sense of the market price. stream For the technology companies, 48% said they have one salary structure that covers most job functions, but have market-based ranges for functions that pay a premium (or a discount) in the market. Although it is more than 10 years old, Radford's global job leveling system remains as relevant today as when it was first introduced. Some European countries, such as Germany and Austria, have a strongly regulated labor force. Large, global enterprises need a job leveling structure that not only provides flexibility for the unique circumstances of different countries and regions (as explained in more detail in this article) but is also compatible between different markets. Figure 2 illustrates how a globally consistent job architecture system, based on career levels, can be aligned to sample global salary range midpoints. Fitbit 0000000016 00000 n As we discussed in the last chapter, the external environment plays a large role when understanding how to pay. COMPENSATION SURVEYS On-demand Webinars, Rewards These job modules can be seen as distinct collections of job families; some modules include jobs commonly found at all companies, while other modules include industry-specific jobs that are generally found only within specific industries. % i"U 0000002806 00000 n To learn more about this exciting enhancement to the Radford survey platform, we encourage you to read more below: The new Radford Global Compensation Database is structured around "Job Modules". trailer %PDF-1.7 % Aon plc. Organizational Talent Assessment The Radford survey defines technical roles as those that typically require employees to possess an engineering or computer science degree. McLagan Data & Analytics 3 | Product Overview: Radford Global Technology Survey In-Depth, Flexible Reporting Compensation Totals Standard with survey participation, all Radford clients gain access to Compensation Totals reports for all countries where they participate Compensation Totals provide macro-level compensation data across all elements of pay, for all jobs in all purchased countries endobj Riot Games Well with our enhanced Peer Group functionality, you will be able to do just that. With career development and perceptions of fairness frequently ranked at the top of employee engagement goals for both employees and companies, the most effective job leveling models need to embed an organization's desired culture and evolve beyond simply serving as defensible frameworks for pay equity. The information contained herein and the statements expressed are of a general nature and are not intended to address the circumstances of any particular individual or entity. Next, decide which group of companies best represents your competitive market for talent. Survey Services, ANALYTICS Media and Gaming As a compensation professional, your task to define job levels is a critical skill; it creates motivation for your employees to learn new skills and helps them identify career paths. These days, between governance issues and the reality of firms operating in many locations with different competitors, different lists of peer companies should be used for each of your major international theaters. Uber Radford Global Job Architecture and Leveling System, Short- and Long-Term Incentive Design Study, Intern, New Graduate, Pay Administration Study, Sales Incentive Practices and Car Policy Study, Short- and Long-Term Incentive Plan Design Study, Intern, New Graduate and Pay Administration Study. But now we know that specificity adds value. In general, we find that companies in Germany (and other similarly regulated markets) are attracted to the Radford approach because it is rational, transparent and equitable, while still differentiating for high performers. Performance & Analytics, Contact Us Top Ten Tools of the Radford Network Global Benefits Between efficiency gains in HR and talent acquisition and improvements in employee engagement related to fairer and more consistent compensation decisions great survey data quickly pays for itself. Statement, | Do Not Sell My Data (US They need to also serve as backbones for career path development, international mobility and incentive plan design. The list of companies appropriate for executive pay analysis may not be right for the engineers or scientists at the heart of your companys product development efforts. Board members, C-suite leaders, HR colleagues, recruiters, and even candidates, all know and trust the Radford name. But in order to understand how much we should be paying, we also need to focus internally, on the value of individual jobs. Radford's global leveling approach recognizes this organizational reality by aligning job levels with both the internal value companies place on individual contributor positions relative to managerial positions, as well as the value the market places on each type of job. High-level technical employees often referred to as fellows or chief scientists are becoming a common alternative to management roles. Car Policy and Time-Off Study Short- and Long-Term Incentive Plan Design Study Here are a few things that you should be aware of. Sales Compensation Statement | Cookie Notice | Do Not Sell My Data (US For technology and life sciences companies, who live and die based on their ability to innovate, these types of challenges are significant and make it all the more important to employ effective job leveling systems. Core roles include communications, compliance, corporate and business administration, finance, hr, legal, marketing, operations, risk mangement, technology and treasury. However, European companies as a whole are starting to become less concerned with minute levels of precision in favor of approaches that facilitate more dynamic organizations that have the capacity to adapt pay and talent practices to more readily meet market demands. 0000001697 00000 n Enable the Future of Pay The information contained herein and the statements expressed are of a general nature and are not intended to address the circumstances of any particular individual or entity. Radford and TCM survey clients will now use a unified job library and job code methodology. For powerhouse data reporting, create customized market queries with multiple breakouts in one report, excluding your data. Preferences Pandora Media Covers activities related to business and revenue generation, supporting customers in finding products, solutions and services that best meet their needs. Energy and Renewables A solid approach to job leveling translates into better communication with employees, more clearly defined career paths, and salary structures with greater market alignment, among many other benefits. Reports If you do not wish to receive these communications, please check here: DATA Amazon.com This allowed us to combine our draft classification architecture based on market data with specific feedback on corporate goals and culture. Instantly market price a job or group of jobs within a single, customizable market (excluding your data) and use the interactive online display. PDF Senior Technical Jobs that Offer an Alternative to Management - Aon EQc4T=3F+Yipd@/pODGM,5mZsDp? v2}6x=zqjjz};hE/{~]6`7 aVlGkR%tgN jBO]j: FTphDK;QKZa7N{~3;ukjY#QIj4+7,&?v. The dual career ladder found in many organizations offers employees the ability to earn similar levels of compensation in both management and professional tracks. Preferences, Privacy There are three important facts you need to know about our job modules: Radford and TCM survey clients will now use a unified job library and job code methodology. These choices that you make will help line managers and business leaders make their hiring decisions with more knowledge, insight, and confidence. Newsletter When you use a compensation survey, whether it's a Radford survey or another source, the basis of job comparison will be the benchmark job. The catalyst behind our job leveling architecture is our clients. Covers activities related to firm-wide, function, area or focus level leadership. The company needed to evaluate and compare its current leveling structures across the business against each other; develop a single consistent approach to leveling jobs; assign grades across the business; and develop a dual career ladder, as too much emphasis was being placed on management hierarchy at the expense of the technical individual contributor career paths. Paypal While deep industry expertise is what sets Radford apart, we also know industry lines continue to blur in an increasingly digital world. Media Relations Dual career ladders, where managers and individual contributors progress up the ranks in similar organizational levels, are much more common at technology and life sciences companies in the US. Preferences | Legal | Privacy Here are some detailed considerations worth mentioning to help you in this process: General Disclaimer Organizational structure and design affects every aspect of a business, including talent mobility, compensation programs and even the speed of innovation. 0000002381 00000 n Promotions are one reason. RADFORD GLOBAL TECHNOLOGY SURVEY Global Long-Term Incentive (LTI) By Level - You vs. Market Subject: RADFORD GLOBAL TECHNOLOGY SURVEY Global Long-Term Incentive (LTI) By Level - You vs. Market Keywords: RADFORD GLOBAL TECHNOLOGY SURVEY Global Long-Term Incentive (LTI) By Level - You vs. Market Created Date: 7/29/2015 1:30:05 PM The simple answer to this question is "enough." 4 0 obj Workday PDF The Art & Science of Benchmarking: What Happens When Pay Doesn't Progress? Multiple levels in the job family create promotional opportunities for people who grow their skills in one discipline over time. For example, if every accountant gets a 4% increase, why wouldnt the average salary increase by 4%? A consistent leveling structure enables more robust and diverse analytics across sectors, geographies, and jobs. Private Company As the results from Aon Hewitt's 2014Trends in Global Engagement show, career development is at the top of employee engagement goals for both employees and companies. DocuSign, Domo Employee Rewards Where this is a factor, separate market-based pay ranges can be created for management and individual contributor positions that still remain in the same global grade for purposes of internal pay equity and global consistency.

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