Short- and Long-Term Incentive Plan Design Study If a company wants to implement a new grading or leveling approach, the Works Council must approve the changes and be involved in the decision-making process. 4 hours agoWebThe RadfordGlobal Technology Survey defines six distinct levelsof work for most individual contributor jobfamilies. The most complete job library in the business The Rewards Solutions practice at Aon and other 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. 2 0 obj AT&T endstream endobj startxref Covers activity related to the fossil fuels and renewable energy sectors, as well as in mining. A governance process to review and update the structure on a regular basis in line with changing business demands. Remember, salary ranges can be specific to every geographic region where you operate, and they can also be broadly attached to job function or more refined around specific job families. startxref Sales Professionals (all industries) i"U stream 0000004431 00000 n Sales Compensation Years ago, companies routinely thought that the same peer list, or even results drawn from all participants in a survey, made for an effective benchmark analysis. 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. Infographics 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. Workforce Planning There are two types of student employment: financial aid workstudy and student wage positions. Access to timely and accurate compensation data is the life-breath of all total rewards strategies. Box Our job library is the industry standard for technology firms. 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. The career path and market level of an individual job based on a consistent set of defined dimensions. In the next section of this paper, we describe how Radford's approach can be customized for companies operating in Asia, Europe and the United States. Explore the fastest way to find jobs in the Radford Surveys, including job matching incumbent counts for your company. Below is a list of some of our job modules and the number of jobs included within each: The catalyst behind our job leveling architecture is our clients. Around the world, more companies are taking a critical review of their job architecture and leveling approach to ensure the core elements of these systems support employee mobility, career development, enterprise-wide system implementations, transparency and accountability. An example of this is an accountant 1 that becomes a financial analyst 2. The contents herein may not be reproduced, reused, reprinted or redistributed without the expressed written consent of Aon, unless otherwise authorized by Aon. Let us know how best to reach you and well be in touch shortly. In general, if your job content matches a survey job by 75% or more, it can be considered a good match. In the next section of this paper, we describe how Radford's approach can be customized for companies operating in Asia, Europe and the United States. Benchmarks, Executive Compensation, Email Radford and TCM survey clients will now use a unified job library and job code methodology. Media Relations Take a look at our latest updates below: We'd love to give you a personal tour of the Radford Network and share more about our compensation surveys. Some European countries, such as Germany and Austria, have a strongly regulated labor force. The chart below includes a knot tying analogy that may help explain the conceptual framework for job levels and shows the actual distribution of employees in each level in the US, India, and China. Salary Increase and Turnover Study When hiring an employee however, their pay may become a reference point for future hires so you need an unbiased, accurate, and complete view of the appropriate labor market. Retail and E-commerce 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. The Radford Platform in conjunction with the Radford Global Compensation Database and the Radford Network provides human resources and compensation professionals with access to rewards insights covering more companies, employees and countries on a single multi-industry survey platform than any other data provider. Global levels can be used to determine a position's eligibility for short- or long-term incentives, bonus targets and equity grant guidelines. 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. Severance and Change-in-Control Study, BENEFITS INSIGHTS In this case, the job family is divided into different levels, each with a different target rate of pay. However, the story changes dramatically when you begin to consider key emerging markets, as is the case in the chart below. Covers activities related to the conversion of raw materials into goods including both consumer and industrial. Radford and TCM survey clients will now use a unified job library and job code methodology. Alibaba 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. $4%&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz ? Board members, C-suite leaders, HR colleagues, recruiters, and even candidates, all know and trust the Radford name. Samsung As a company matures and expands its global footprint, the approach it takes for organizing its workforce will have a lasting cultural and financial impact. Comparing jobs helps us know their relative value within the company. 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). 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. The Technical/Scientific levels are new and will only be used by life sciences companies. endstream endobj startxref %%EOF Analytical Job Evaluation: Value-Adding Business Process or Bureaucratic Relic? 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. Covers activities related to the acquisition, development, production, publication and distribution of film, television, animation, radio, podcast, web-based video, streaming, broadcast, print media, electronic games and other forms of media. We can agree when hiring executives, you want to compare pay levels with appropriate firms. Plus, looking at the technology sector can also help to establish broader benchmarks for the purposes of defining pay levels. Real customer service Their reliable market data closely aligns with our compensation philosophy, so its a natural fit. Plus, we have a 60-person global consulting team ready to handle your biggest plan design challenges. ", Radford is our source of truth. Radford polled some of our largest technology and life sciences clients in 2016 on their approach to salary administration. 0000002806 00000 n But in order to understand how much we should be paying, we also need to focus internally, on the value of individual jobs. 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. Companies with more internal job levels than database job levels should approach job matching from the "ends." sraPpk+LH/5upf\? 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. Below is an example of how different job families are graded and grouped into two tracksone for management and one for individual contributor. 4H,~u7|z}*Wi}RI7g d*2XMXctk";^R 2015 17 Technology 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. Figure 5 is an example of how different job families are graded and grouped into two tracks, one for management and one for individual contributors. IT also employs student help to staff the Help Desk, Electronic and Computer Repair Services, and the Walker Technology Center. %PDF-1.5 % Executive Careers. Covers activities related to scientific research and development of products such as pharmaceuticals, biologics, therapeutics, diagnostics, medical devices, animal health, etc. To learn more about participating in a Radford survey, pleasecontact our team. We're a participant-only survey, meaning there's only one way to access the Radford Network: submit a complete, high-quality data input that passes multiple rounds of quality assurance. Covers activities related to business and revenue generation, supporting customers in finding products, solutions and services that best meet their needs. 1 0 obj 0000000653 00000 n xGegi7 uk:r. rO88jSI=,cJGWEqij5=e-Ao1+s z[hkzZ50 Kfw;63|TZLIIo4O(!(OM0y ;\ZFv2y.k-uNjk|69sWuR;;sFp5^ ZH.mg;KJKG:+F_f cR9{k:V:rrXU jJnUmcYIke'm?b %c#jTR In-Depth Research, Careers Compensation Our surveys and the Radford Network are constantly evolving, which is why we publish regular release notes to keep clients up-to-speed on recent product changes. Additionally, their survey consultants and account managers are very responsive and easy to work with.". Although it is more than 10 years old, Radford's global job leveling system remains as relevant today as when it was first introduced. 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. The benchmark job is exactly what it sounds like, a common job held by many that's consistently defined and relatively stable in design and purpose. Terms of Use Still, driving this type of change has hurdles, and HR leaders need to be aware of the many steps that might be involved in migrating to a global leveling model. Manufacturing 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. Options include formal evaluation (point factor system) or informal agreements (slotting/ranking systems). Explore the maps below to view incumbent and participant counts by country or state in the Radford Global Technology Survey. Fitbit 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. Public companies often disclose it in their proxy statement and investors will look to see that appropriate companies were selected as peers for setting pay levels. Partners Here are a few things that you should be aware of. The contents herein may not be reproduced, reused, reprinted or redistributed without the expressed written consent of Aon, unless otherwise authorized by Aon. hb```fB>c`BPNINc]R\TVG]6;Hd5-Iti~%pSOc\UD] z$m;IpvkK-t/\sCM7T:cQmtIY7LLCH*GkfP|@x~ 0 Newsroom An example of this is an accountant being promoted to a senior accountant. Streamlined ability to port Aon data into third-party tools. However, driving this type of change has hurdles, and HR leaders need to be aware of the many steps that might be involved in migrating to a globally consistent leveling structure. Benchmarks, Executive 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. Facebook Apple Posted: (6 days ago) WebThe Radford Global Technology Survey defines six distinct levels of work for most individual contributor job families. The system combines individual contributors and managers into global grades where market pay suggests equivalence. Corporate Governance Statement, | Do Not Sell My Data (US 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 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. Contact Us. Philips Healthcare ", "We use Radford surveys because they are most closely aligned with our jobs in the high-tech industry not to mention the large number of benchmark jobs and levels to choose from. 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. Private Company For more information on the Radford,please contact us at: +1 (408) 321.2500Toll-free in No. C.3 Radford Global Compensation Database Job Catalogue Proprietary and Confidential E6 Executive 6 E5 Executive 5 Examples Chairman, CEO Major Function Leaders, often CXOs, EVPs Description The senior leader(s) of the corporate entity. It's important to take these types of differences into consideration when developing global leveling structures. Drive Diversity, Equity and Inclusion Car Policy and Time-Off Study Tesla Analytical forms of job evaluation, such as the point-factor approach, continue to dominate the landscape in many European countries due to the current regulatory environment, which requires pay equity compliance in collective labor agreements. 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. Figure 1 Base Salary Premium for Professional Technical Jobs vs. Companies have recognized the value of keeping experts focused on what they do best. Site Map | Survey Data Policy | Email Infographics Designed to meet your complete compensation benchmarking needs on a single platform, the Radford Global Compensation Database allows you to benchmark data from over 15 million employees across all geographies and industries for the most up-to-date workforce insights. 49 0 obj <>stream When a hiring manager is opening a requisition, they too have an idea of knowing how much a job is worth. 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. 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. These promotions usually happen around the time an employee receives a review or a salary increase. %%EOF 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. Accelerate Your Workforce into the Future Square On-demand Webinars, Rewards The chart below illustrates 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. All personal information is collected and used in accordance with our privacy statement. Market rates can be measured for individual jobs or groups of similar jobs with similar value. Radford has been an integral part in closing some of the Top Management positions and their work continues to speak for themselves. Spotify Three things to know: The general layout of the job codes is the Function + Area + Focus + Level. endobj % Job leveling, when designed correctly, greatly simplifies how global workforces are organized and managed by introducing a common grading language across all employees and functions, while still differentiating for performance and specific market realities. 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. There are 10 individual levels, broken down as: Management: M3, M4, M5 & M6 Professional: P1, P2, P3, P4, P5 & P6 For companies that may not have a comprehensive internal job level framework yet, we offer a simpler, blended level structure that can be used to Benchmark employees against. Covers activities related to enabling functions that drive business results. Terms of Use !(!0*21/*.-4;K@48G9-.BYBGNPTUT3? Preferences | Legal | Privacy %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz El. All rights reserved. The maximum pay level for Grade 5b is the same as the maximum pay level for Global Grade 5. Not every job is surveyed though since some companies may have unique definitions of roles or jobs that few others have. Preferences Solutions The catalyst behind our job leveling architecture is our clients. Life Sciences Sector Struggles to Maintain Consistency for Scientific Job Titles, For an Effective Job Levelling Approach, Follow These Five Steps, 5 Reasons to Revisit Your Job Architecture, Understanding the Impact of Performance Ratings in Differentiating Pay, How Biotech Companies are Scaling their Workforces for High Growth, A Well-Oiled Machine: What High-Performing Companies Are Doing That Youre Not, Voluntary Sales Talent Turnover Finally Slowing Down, New Radford Data Suggests the War for Talent in China Could be Cooling Off, But Just a Little, Turnover Rates for Sales Employees Reach a Five-Year High. 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. 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. Site Map| Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY) | Cookie Preferences 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. 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. Click to read our newest article on Radford's approach to global job leveling. %PDF-1.5 The most complete job library in the business Our job library is the industry standard for technology firms. 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. 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. A recent survey by our consulting practice found that 20% of responding companies revaluated or redesigned their job leveling architecture in the preceding 12 months, and another 30% of respondents said they were prioritizing updates in the year ahead. Covers activities related to enabling functions that drive business results. Dell Organizational structure and design affects every aspect of a business, including talent mobility, compensation programs and even the speed of innovation. This infrastructure is also easier to maintain as a company continues to grow its workforce and geographic reach. ABOUT US Energy and Renewables Finally, we undertook an impact analysis to understand the cost implications of moving to a new global system targeted at various levels of market competiveness (e.g., the impact of setting pay to 50th vs. 60th vs. 65th percentiles of the market). Core roles include communications, compliance, corporate and business administration, finance, hr, legal, marketing, operations, risk mangement, technology and treasury. Github In fact, as workforces become more global, M&A activity remains robust, industries collide, and calls for greater pay equity grow louder, companies are turning to global leveling structures more and more often. Talent Assessment 0000001413 00000 n COMPENSATION CONSULTING Covers activities related to business and revenue generation, supporting customers in finding products, solutions and services that best meet their needs. 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. IBM 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. 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. 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. 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. 2022 Aon plc. Contact Us 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. A medium-sized global corporate discipline or department Develops, adapts and executes functional or departmental strategy to achieve key business objectives in area of responsibility Decisions. Benchmarks, ADVICE 2015 0 obj <> endobj Let us know how we can help and a member of our team will be in touch shortly. Microsoft Our job library is the industry standard for retail and e-commerce firms. 0000004763 00000 n Several . 0000002381 00000 n National competitors, regardless of size, may be home to candidates for future employment or may be keen on poaching your key talent. We collect data on positions spanning every business function, including a wide range of highly-targeted engineering and R&D roles. Financial Technology Location Analysis endobj Sets the direction and policies for sales activities and manages the execution of these plans. When you ask a candidate how much they would like to be paid, they have an intuitive sense of their value. Job families like accountant, engineer, and HR rep are common examples of benchmark jobs since they are found in most companies. SAP, Siemens But from the CFO's view, the objective is to measure costs against return on investment. Electronic Arts The chart below illustrates how tweener grades can be developed specifically for Asia within the context of a larger global leveling system. A G+20n9X,R{,A Hw#?CKA#nX> %a]DA:.@`3Z' )[ 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. Zoom Video, Radford is far-and-away the most comprehensive technology-focused survey in the market! Radford's global sales, technology and life sciences surveys provide companies the basis for creating job architecture that provides a framework upon which job leveling systems are built. trailer Embedding a common language for job leveling and career mapping into the culture of a company at an early stage can have long-lasting benefits. Site Map | Survey Data Policy | Email hb```b``if`a`: |l@ &zSag`]naG)M*Ejca"NE7cJ9&D<>`_/MtLbMgsES]]eW2V^sjLbd=ohiYS(EF,R 0)au-^F8>H(yAA %%%% g4 T>:h$"tAaBW(+"r20 yXl$?cv70YhdP`s`c3b30l`Ay4M?xdt=-5>Df@3iJa`(d`+ y tyj While administrative, technical and production roles can still be aligned into consistent global job levels, each of these support functions should have their own market-based pay ranges to reflect their specific values in the local market. Also, as a company which has experienced rapid-growth over the last few years, features like the Radford job descriptions and leveling charts are great tools we can use with our business leaders to help them better understand the need for scalable compensation structures., "The primary reason we use Radford as our survey provider is the combination of their data accuracy and alignment with our talent compensation expectations. It also helped alleviate the pressure for scientists to move into management roles as the only way to advance in their careers. The same level of stability is observed in the United States, where average salary budgets for life sciences sector companies have barely strayed from 3.5% in each of the last four years. General Motors Organizational Then consider affordability. 0000001195 00000 n ONLY) | Cookie Let us know how best to reach you and a member of our team will be in touch shortly. Financial Technology A high level overview ofour best tools and how to put them to work for you. endobj For powerhouse data reporting, create customized market queries with multiple breakouts in one report, excluding your data. Sales Compensation Tailored job leveling matrices to outline level differentiation and progression for employees across different functional groupings; A new salary structure that was deployed in different countries and linked to robust market data from the Radford Global Technology Survey; Leadership buy-in via a transparent process and easy-to-understand methodology; and. Media Relations Streamlined ability to port Aon data into third-party tools. 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%. We hear this question a lot. 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. Every Radford survey client is partnered with a dedicated survey consultant to guide you through the input process. 0000003946 00000 n There remain executive-level equivalent individual contributor jobs that are above the P7 (Senior-Director equivalent technical expert) called Fellows and Senior Fellows that align with E1 and above. Preferences, Privacy
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