Site Map| Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY) | Cookie Preferences Media Contacts Partners 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. Board members, C-suite leaders, HR colleagues, recruiters, and even candidates, all know and trust the Radford name. Xactly The career path and market level of an individual job based on a consistent set of defined dimensions. From employees viewpoint, everyone would like more compensation. 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. The first part of understanding how much to pay is to know the philosophy and inner workings of how it's established. Workday JFIF Ducky d C 4 0 obj All rights reserved. UiPath Streamlined ability to port Aon data into third-party tools. Global Benefits Is it Time to Ditch Your Salary Structure for Market Pricing? We - Aon Client Results Benefit SpecSelect Rethink Location Strategy, Articles Square Statement | Cookie Notice | Do Not Sell My Data (US Explore the maps below to view incumbent and participant counts by country or state in the Radford Global Technology Survey. Product Release Notes sraPpk+LH/5upf\? Media Contacts We listened extensively about what clients love about what we do, and what things needed to evolve to meet the needs of the innovation industries. 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%. And 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. However, European companies as a whole are starting to consider different approaches that facilitate more dynamic organizational design with the capacity to adapt pay and talent practices to more readily respond to today's so-called VUCA (Volatile, Uncertain, Complex, Ambiguous) market demands. 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. 0000001636 00000 n It's important to remember that job leveling systems are helpful for many types of companies from publicly-traded multinationals to smaller, private companies seeking a flexible foundation upon which to grow. Three things to know: The general layout of the job codes is the Function + Area + Focus + Level. Data shows job level is a great predictor of the level of participation and the likelihood of receiving a bonus. 2158 0 obj <>/Filter/FlateDecode/ID[<0629B1A7E3CB114C93B42299E75E8EF1><144AEB0776675A4DB3A7E7A9FAB0BDC0>]/Index[2148 21]/Info 2147 0 R/Length 65/Prev 198871/Root 2149 0 R/Size 2169/Type/XRef/W[1 2 1]>>stream Since it is usually a highly-skilled and well-paid person who gets a promotion, they tend to be paid above the average of their peers. Upcoming Events and Webinars High-quality data, direct from HR teams Radford's globally consistent approach to job leveling provides companies with the flexibility they need to meet the many nuances of workforce, rewards and regulatory practices in regional markets, while also providing a foundational structure to scale for growth and maintain a globally connected rewards system. A G+20n9X,R{,A Hw#?CKA#nX> %a]DA:.@`3Z' )[ No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. 0 Additionally, their survey consultants and account managers are very responsive and easy to work with.". Corporate Governance Private Company Market Capitalization (stock price x shares outstanding), Development Stage (Pre-IPO, Growing/Mature), Industry - employees with technical skills, Location - admin/production jobs not eligible for relocation, Country - peer lists reflect labor competitors in each market. Github Distribution of Radford Global Technology Survey Participants, Select Radford Global Technology Participants, Adobe Systems Every Radford survey client is partnered with a dedicated survey consultant to guide you through the input process. Workforce Planning This type of approach is sometimes used in China and India where the jump in pay from one official job level to the next is steep, and the promotional velocity for lower-level employees is typically expected to be rapid. 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. Radford and TCM survey clients will now use a unified job library and job code methodology. 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. To take these models a step further, the following case study describes how we can translate the sometimes abstract concepts of job architecture and job leveling into successful systems at large multinational companies: Business Challenge Regardless of relative internal valuations, we need to attach payto jobs using a sense of the market price. In Germany, there is a strong level of influence from employee representatives (often in the form of Works Councils), which require a proportion of the seats of the supervisory board to represent the workforce. Executive Next, we aligned all job roles in the proposed architecture into grade levels with salary ranges attached for each geography and functional grouping. Employee Experience Study Options include formal evaluation (point factor system) or informal agreements (slotting/ranking systems). Job descriptions in Radford surveys summarize the primary responsibility of each job. _P8>w-V%E1~U}nx[M[o$(l7xX:fk}veLhlqNj i{$kT~UjzKj:0/ The dual career ladder found in many organizations offers employees the ability to earn similar levels of compensation in both management and professional tracks. <> endstream endobj 2030 0 obj <>/Filter/FlateDecode/Index[106 1909]/Length 63/Size 2015/Type/XRef/W[1 1 1]>>stream 2022 Aon plc. Here are some detailed considerations worth mentioning to help you in this process: General Disclaimer 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. 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. 1 0 obj Close the Future Skills Gap Riot Games Although it is more than 10 years old, Radford's global job leveling system remains as relevant today as when it was first introduced. All personal information is collected and used in accordance with our privacy statement. Covers activities related to the conversion of raw materials into goods including both consumer and industrial. The key to successful survey participation is job matching. Covers activities related to the conversion of raw materials into goods including both consumer and industrial. Radford Data & Analytics Global Job Leveling at Radford: A Tailor-Made Approach for Companies Driven by Innovation, Accelerate Your Workforce into the Future, Radford's approach to global job leveling. A family is a set of individual jobs that each involves the same basic type of work but at different levels of skill and responsibility. The sheer size and scope of a large survey database will allow you to customize reports that give you keen insight into your competitive labor market. Several . Top Ten Tools of the Radford Network Multiple levels in the job family create promotional opportunities for people who grow their skills in one discipline over time. IT Staffing 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. <>/Font<>/Pattern<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 720 540] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> For powerhouse data reporting, create customized market queries with multiple breakouts in one report, excluding your data. How a Global Job Leveling System Addresses Common Business Concerns. Zoom Video, Radford is far-and-away the most comprehensive technology-focused survey in the market! However, this system is underpinned by job architecture, which is a method of organizing jobs into job codes, job titles and functional areas, all before assigning a grade level. On-demand Webinars, Rewards A consistent leveling structure enables more robust and diverse analytics across sectors, geographies, and jobs. They host amazing industry-specific events with great networking opportunities and highly strategic content that always seems to address our most pressing needs., "Radford is the world-class source for high-tech market data and on-the-spot market intelligence to understand critical pay trends. stream For example, we would recommend keeping technical and non-technical job roles separate for salary range development if you operate in multiple countries where premiums don't follow the same patterns. Plus, we have a 60-person global consulting team ready to handle your biggest plan design challenges. Global levels can be used to determine a position's eligibility for short- or long-term incentives, bonus targets and equity grant guidelines. The dynamic business environment across Asia produces a high degree of regional differentiation, which makes tailoring job leveling to the unique needs of every market where you operate even more important. Corporate Governance There are two types of student employment: financial aid workstudy and student wage positions. 4 hours agoWebThe RadfordGlobal Technology Survey defines six distinct levelsof work for most individual contributor jobfamilies. To learn more about participating in a Radford survey, pleasecontact our team. PDF Managing Pay in Volatile Markets: Move Cautiously and Stay the Course - Aon Embedding a common language for job leveling and career mapping into the culture of a company at an early age can have long lasting dividends. This allows for more frequent performance reviews and pay adjustments. Most importantly, our new job code methodology will allow us to generate new jobs faster each year in reaction to shifting workforce trends. Job leveling also creates an infrastructure that is easier to maintain as a company continues to grow its workforce and geographic reach which is particularly important in the active M&A environment. Philips Healthcare 0000000653 00000 n Figure A: Promotion path of a junior accountant. Non-Technical Jobs Source: Radford Global Technology Survey Product Support 0000001697 00000 n The primary activity that describes the type of work performed, The specific segment of the business or type of work performed; summarizes the general responsibilities and shared purpose behind performing specific jobs, The most precise definition of purpose for, and actions taken by, employees in order to deliver on the expectations of clients, colleagues, regulators or leaders. endstream endobj 2016 0 obj <>/Metadata 104 0 R/OpenAction 2017 0 R/PageLabels 97 0 R/PageLayout/SinglePage/Pages 100 0 R/StructTreeRoot 106 0 R/Type/Catalog/ViewerPreferences<>>> endobj 2017 0 obj <> endobj 2018 0 obj <. Enable the Future of Pay But from the CFO's view, the objective is to measure costs against return on investment. 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. Salary Increase and Turnover Study Source: Radford Global Technology Survey The pay premium for technical jobs is highest at entry-level jobs (P1), declines slightly at mid-level career jobs (P3) and then drops even more significantly at the most senior professional jobs we studied (P5). Statement | Cookie Notice | Do Not Sell My Data (US To speak with a member of our consulting group about building job leveling and salary structure systems, write to consulting@radford.com. In addition, their survey consultants are superb and never fail to deliver top-quality service and products. 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. Opening for Business Reports, RADFORD PLATFORM Workforce Planning There are two basic ways that you can go about matching jobs: Another term that you will see a lot when it comes to surveys is job families. 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. All personal information is collected and used in accordance with our privacy statement. Technology Annual Salary Budgets: More Than Meets the Eye - radford.com The contents herein may not be reproduced, reused, reprinted or redistributed without the expressed written consent of Aon, unless otherwise authorized by Aon. Upcoming Events and Webinars Spotify Covers activities related to the sale of goods or services either in traditional stores or via electronic channels including internet sites, mobile applications or social media platforms. hbbd``b`$w "$Z @bY qu-# In Asia, it is also important to evaluate pay levels for support functions very carefully to separate technical positions from administrative roles and skilled production jobs whose requirements and pay levels may vary considerably. Rewards Optimization 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. Using Workforce Analytics to Solve Broader Business Challenges in the Aon group companies will use your personal information to contact you from time to time about other products, services and events that we feel may be of interest to you. When an employee is promoted, they move from one job level to another. Quick Benchmarks Overview Cisco Systems We're much more than a data provider Sales Compensation Covers activities related to scientific research and development of products such as pharmaceuticals, biologics, therapeutics, diagnostics, medical devices, animal health, etc. Benchmarks, Executive In-Depth Research, Careers We can agree when hiring executives, you want to compare pay levels with appropriate firms. You want to be able to pay enough to: The trick to "how much" is to find the right balance between what is motivating and what is affordable. Compensation, Email IT also employs student help to staff the Help Desk, Electronic and Computer Repair Services, and the Walker Technology Center. When you ask a candidate how much they would like to be paid, they have an intuitive sense of their value. Drive Diversity, Equity and Inclusion To use information contained herein, please write to our team. Media Relations Reports Every Radford survey client is partnered with a dedicated survey consultant to guide you through the input process. 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. Figure 3 shows the relationship between job leveling and job architecture both of which are critical to creating a solid foundation for career path mobility and highly effective salary structures. 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. Close the Future Skills Gap Job families like accountant, engineer, and HR rep are common examples of benchmark jobs since they are found in most companies. <> High-level technical employees often referred to as fellows or chief scientists are becoming a common alternative to management roles. With the Radford Network at your side, you'll be able to benchmark pay on-the-fly for thousands of industry-specific jobs, both technical and non-technical in nature, across all manner of geographic and industry lines. The skew is to the left in India and China, where more employees perform lower-level jobs relative to the US. The Radford Global Technology Survey defines six distinct levels of work for most individual contributor job families. We love that we can access both technology and sales positions with a single vendor. Technical Jobs Continue to Command Hefty Pay Premiums; Here's How Statement, | Do Not Sell My Data (US Purchasing a large, well-established salary survey may seem like a big expense, but you're likely to see a return on investment within your first few hires. Organizations Enrolled in Our Global Database, Short- and Long-Term Incentive Design Study, Intern, New Graduate, Pay Administration Study, Sales Incentive Practices and Car Policy Study, Publication: Access Radford's April Publication Today, Platform Enhancements: Peer Group Access Enhancement and Multi-Factor Authentication, Publication: Access Radford's January Publication Today, Platform Enhancements: Pay Inference, Updated Mapping and More, Short- and Long-Term Incentive Plan Design Study, Intern, New Graduate and Pay Administration Study. Although we endeavor to provide accurate and timely information and use sources we consider reliable, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Companies have recognized the value of keeping experts focused on what they do bestthe work itself. 0 A shift to a job at a higher level in a different job family is referred to as an out-of-family promotion. Radford Job Leveling Chart Since the concept of a peer group is a bit more intuitive for executive compensation analysis , lets use hiring a sales executive as an example. Our database, currently spanning 4.8 million people at 1,656 technology organizations, is updated quarterly, allowing Radford to deliver the timely, targeted data you need to compete in today's hottest talent hubs. % In an era where many companies are concerned with and actively root out pay inequities, as well as the deeper structural issues that can sometimes lead to them, job leveling is a system that can support this important effort. Figure 2 illustrates how a globally consistent job architecture system, based on career levels, can be aligned to sample global salary range midpoints. Accelerate Your Workforce into the Future To use information contained herein, please write to our team. COMPENSATION CONSULTING The company had a large number of employees with PhDs and needed to ensure alignment between scientific, management and business career paths. 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. Global Benefits Product Support A great global job leveling program is the foundation for creating a compelling, fair and market-oriented approach to managing your talent for optimal business results. 0000004763 00000 n It will likely be to your advantage to use different peer lists for different kinds of jobs. 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. stream However, the story changes dramatically when you begin to consider key emerging markets, as is the case in the chart below. Media and Gaming Their reliable market data closely aligns with our compensation philosophy, so its a natural fit. ONLY), | Cookie Imagine if you were able to create your own peer groups from our over 4,000 participating organizations and run them in customized queries designed by you. Role is a member of the Board of Directors/Main Board and the most senior position in the organization. Life Sciences Promotions are one reason. endobj 0000000016 00000 n eBay Let us know how we can help and a member of our team will be in touch shortly. A consistent leveling structure enables more robust and diverse analytics across sectors, geographies, and jobs. 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. Our critical first step in addressing these issues was to use current and relevant benchmarking data to begin assigning an overall job classification architecture to the various job titles at the company. 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. 0000003198 00000 n Click to read our newest article on Radford's approach to global job leveling. Until this point, the client had different approaches to managing compensation programs and job grading across its functional areas and business units. As a compensation professional, you will be establishing the rewarding yet affordable ranges of pay and identifying the market value for jobs. Box 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. Build a Future-Ready Boardroom There are several compelling reasons why companies should take time now to evaluate their global job leveling structures, including: Figure 1 illustrates how job leveling systems can address a number of common business concerns: Figure 1 Terms of Use Having business functions fit into the same job grades across markets provides consistency but it doesn't prohibit companies from putting business functions into different salary ranges for different markets. 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. PDF Career Bands, Career Levels, Functions and Disciplines Employee Rewards 2015 0 obj <> endobj Contact Us %PDF-1.7 % Let us know how we can help and a member of our team will be in touch shortly. Solutions Apple Preferences | Legal | Privacy Buzzfeed Compensation Surveys 2148 0 obj <> endobj 3 0 obj Although we endeavor to provide accurate and timely information and use sources we consider reliable, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Please stay tuned for additional updates regarding our exciting July publication. endobj As an example from the Engineering function, the Software - Applications Development P3 job would be: We have developed a globally consistent leveling structure to fit the unique and specific needs of our clients. 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. Below we're taking a look at the cash incentive participation by job level at a sample organization for the U.S., U.K. and India pulled from the Radford Global Technology Survey.
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