Survey Services, ANALYTICS Spotify For example, if every accountant gets a 4% increase, why wouldnt the average salary increase by 4%? We also need to be aware of 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. Knows a lot about knots. 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. Individual job value is based on three pillars starting with job analysis (what is done), job evaluation (how jobs compare), and market pricing (linking company to market). Twitter SunPower All personal information is collected and used in accordance with our privacy statement. Contact Us. In the chart above, Global Grade 5 is subdivided into two tweener grades, 5a and 5b, in order to accommodate more frequent performance assessments. 0000004346 00000 n From employees viewpoint, everyone would like more compensation. These types of energy are used to generate power for residential, commercial, industrial and transportation customers. 5 0 obj Next, we aligned all job roles in the proposed architecture into grade levels with salary ranges attached for each geography and functional grouping. 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. To use information contained herein, please write to our team. 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. xOk@}9J9ggI%; )n\,oU4A{{'w\+H0Z.A4DFSph$xHF)VCXa0]/NP|@]f^z-@$NL 6Mq*UP/&^#_!W^ZSO0~Z,\CUlUUn',I#^qQ7cLqu +R 4[TZ hftx`MT{W^w{m{7yGWG UtPN$utsn~)oR CRhQ0eu=YlMeE5a[^I Most importantly, our new job code methodology will allow us to generate new jobs faster each year in reaction to shifting workforce trends. Workforce Planning Terms of Use Preferences As previously mentioned, defining job levels within a family is a critical skill of a well-rounded compensation professional. 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. 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. Preferences, Privacy 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. h[O0Kb'PPVi\DT^)MHc'i And that extends to much more than their data. In-Depth Research, Careers hb```c``g`f`Pd`@ & 80GaD i |e`TTd;9A qa!fN f` gd0 } The first thing we need to decide is which employees (or incumbents) working elsewhere are good representatives of our specific labor market. Lower starting pay for new hires can also explain why rates move more slowly overall than you might think. Radford has been an integral part in closing some of the Top Management positions and their work continues to speak for themselves. Talent Assessment 4 hours agoWebThe RadfordGlobal Technology Survey defines six distinct levelsof work for most individual contributor jobfamilies. Covers activity related to the fossil fuels and renewable energy sectors, as well as in mining. Every Radford survey client is partnered with a dedicated survey consultant to guide you through the input process. 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. We also offer complimentary online and one-on-one training. But from the CFO's view, the objective is to measure costs against return on investment. Philips Healthcare <>/Font<>/Pattern<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 720 540] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Our approach to job leveling includes creating a structure that has articulated career paths for various job families that can support a global organization. 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 In the meantime, if you have any questions, please don't hesitate to contact your survey consultant. Entry-level professional jobs (level 1 and 2) don't have a big premium for new hires. 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. Close the Future Skills Gap 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. 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. These grades are intermediate steps within a global career level that have their own specific base salary or fixed compensation ranges. Radford consultants successfully implemented a job leveling system that helped employees understand the different career opportunities available to them within their function and across the company. Please stay tuned for additional updates regarding our exciting July publication. These trends are born out in the Radford Global Life Sciences Survey and the Radford Global Technology Survey, where we observe a growing share of positions that overlap across our surveys as industries converge. Not every job is surveyed though since some companies may have unique definitions of roles or jobs that few others have. 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. 0000001636 00000 n High-quality data, direct from HR teams 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. Role is a member of the Board of Directors/Main Board and the most senior position in the organization. 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. 2022 Aon plc. Media Contacts The contents herein may not be reproduced, reused, reprinted or redistributed without the expressed written consent of Aon, unless otherwise authorized by Aon. Media and Gaming 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. If a company wants to implement a new grading or leveling scheme, the Works Council must approve the changes and be involved in the process. Board members, C-suite leaders, HR colleagues, recruiters, and even candidates, all know and trust the Radford name. Job families like accountant, engineer, and HR rep are common examples of benchmark jobs since they are found in most companies. %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz Several . Media Contacts 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. Compensation Site Map| Survey Data Policy | Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY) | Cookie Preferences (In this case, we show data for a Software Engineer Systems position in India using Radford Global Technology Survey data published in October 2014.). 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 Aon plc. 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. 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. Market Practice Studies 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. To use information contained herein, please write to our team. To learn more about participating in a Radford survey, please contact our team. 0000006838 00000 n Electronic Arts $4%&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz ? 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. Reports i"U Every Radford survey client is partnered with a dedicated survey consultant to guide you through the input process. In this example, we used the midpoint of Global Grade 5, typically the market median, as the maximum pay level for Grade 5a. 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. We can agree when hiring executives, you want to compare pay levels with appropriate firms. Energy and Renewables Figure A below shows the promotion path of a junior accountant. Short- and Long-Term Incentive Plan Design Study Non-Technical Jobs Source: Radford Global Technology Survey Covers activity related to the fossil fuels and renewable energy sectors, as well as in mining. Press Contacts ]c\RbKSTQ C''Q6.6QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ - |" Compensation, Private 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. What we do. Close the Future Skills Gap 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. Build a Future-Ready Boardroom (All form fields are required.). 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. This infrastructure is also easier to maintain as a company continues to grow its workforce and geographic reach. Finally, it's imperative that any approach to job leveling include enough elasticity in the system so that it can be tailored to meet the demands of different companies and different markets. Stryker Opening for Business Reports, RADFORD PLATFORM ABOUT US endstream endobj startxref Organizational DATA Intern, New Graduate and Pay Administration Study Xactly Determine what people do by watching, documenting, and understanding the reasons jobs exist. If you do not wish to receive these communications, please check here: COMPENSATION SURVEYS Access to timely and accurate compensation data is the life-breath of all total rewards strategies. Statement | Cookie Notice | Do Not Sell My Data (US Enable the Future of Pay Site Map| Survey Data Policy | Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY) | Cookie Preferences High-level technical employees often referred to as fellows or chief scientists are becoming a common alternative to management roles. There is generally a 1-level off relationship in pay, as shown below here in the Management and Professional columns. Our client was undergoing rapid growth and looking to scale its domestic business into more international markets. Another nuance about the Asian market: companies operating in the region often prefer to include what we call "tweener grades" into their job leveling models. 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. 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. Pay Equity 2 0 obj stream Preferences This means that job leveling approaches quickly need to evolve beyond simply serving as defensible frameworks for pay equity. Terms of Use There is generally a "1-level off" relationship in pay, as shown below here in the Management and Professional columns. When headcount grows, it quickly becomes incumbent upon companies to find effective ways to organize jobs into job families where similar work is performed. 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. America:+1 (866) 431.4796 sales@radford.comwww.radford.com What Our Clients Say About Radford "The Radford Consulting team was instrumental in creating our harmonised global compensation system. 1 0 obj The catalyst behind our job leveling architecture is our clients. A high level overview ofour best tools and how to put them to work for you. We collect data on positions spanning every business function, including a wide range of highly-targeted engineering and R&D roles. Increasingly, human resources and talent leaders want job leveling tools that have enough built-in flexibility to handle cultural differences, local and regional regulations, diverse business needs and changing talent requirements. Private Companies (all industries), MARKET PRACTICE STUDIES EQc4T=3F+Yipd@/pODGM,5mZsDp? v2}6x=zqjjz};hE/{~]6`7 aVlGkR%tgN jBO]j: FTphDK;QKZa7N{~3;ukjY#QIj4+7,&?v. Benefit SpecSelect Pinterest Press Contacts endstream endobj 26 0 obj <> endobj 27 0 obj <> endobj 28 0 obj <>stream Microsoft Predictive Analytics 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. 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. Benchmarks, ADVICE 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. Rent the Runway Financial Technology Figure 1 Base Salary Premium for Professional Technical Jobs vs. sraPpk+LH/5upf\? 0000001413 00000 n 2031 0 obj <>stream 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. In this case, the job family is divided into different levels, each with a different target rate of pay. Zero in on the data that matters most to you This should provide a solid foundation for negotiations with your Works Council. 2015 0 obj <> endobj Companies with operations in Asia often prefer to include what we call "tweener grades" into their job leveling model. To speak with a member of our consulting group about building job leveling and salary structure systems, write to consulting@radford.com. Organizational 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. It is also a good idea to consider using market capitalization, or perhaps level or stage of development, as a way to ensure that comparisons are drawn from companies facing similar challenges and are hiring talent with similar experience. At Radford, our global leveling approach, which is integrated into the global architecture of our surveys, meets these requirements. Executive recruiting is often focused on bringing talent to an organization that is not tied to specific technology; leadership from another industry may transfer effectively. Executive SAP, Siemens The overall fixed compensation range remains the same; however, additional pay ranges now exist within this span. Solutions Covers activities related to firm-wide, function, area or focus level leadership. Partners Full Intel, LinkedIn All rights reserved. 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. Employee Experience Study 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. HP Client Results 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. 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. Predictive Analytics endobj This in turn empowers us to stay competitive as it relates to our employee population. startxref Preferences, Calculates rope strength. A governance process to review and update the structure on a regular basis in line with changing business demands. 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. To use information contained herein, please write to our team. 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. endstream General Disclaimer All rights reserved. Rethink Location Strategy, Articles UiPath Compensation These grades are intermediate steps within a global career level that have their own specific base salary or fixed compensation ranges. 0000000653 00000 n Contact Us. 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. Streamlined ability to port Aon data into third-party tools. 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. Here are some detailed considerations worth mentioning to help you in this process: General Disclaimer 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. Salary Increase and Turnover Study This allows for more frequent performance reviews and pay adjustments. 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. All personal information is collected and used in accordance with our privacy statement. First off, global competitors of similar or larger size chosen for executive analysis may include some companies outside your core industry. 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. 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. 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. 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. All rights reserved. The system combines individual contributors and managers into global grades where market pay suggests equivalence. Covers activities related to firm-wide, function, area or focus level leadership. 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. Contact Us 2168 0 obj <>stream Update: We've updated this article to include new information and data. Distribution of Radford Global Technology Survey Participants, Select Radford Global Technology Participants, Adobe Systems When designed correctly, job leveling 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. Creating a Market Query 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. <>>> 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. Energy and Renewables 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%. 4 0 obj Talent Assessment 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. 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. 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. 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. For powerhouse data reporting, create customized market queries with multiple breakouts in one report, excluding your data. Equity Services, Compensation 101 0000002381 00000 n _P8>w-V%E1~U}nx[M[o$(l7xX:fk}veLhlqNj i{$kT~UjzKj:0/ 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. <>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 12 0 R 13 0 R 14 0 R 15 0 R 16 0 R] /MediaBox[ 0 0 612 792] /Contents 5 0 R/Group<>/Tabs/S>> 0 %PDF-1.5 % IBM Country Profile Reports In Figure 4, Grade 6 is subdivided into two tweener grades, 6a and 6b, in order to accommodate more frequent performance assessments. Newsletter National competitors, regardless of size, may be home to candidates for future employment or may be keen on poaching your key talent. Compensation, Private Company Short- and Long-Term Incentive Plan Design Study b FG)AuA%` Terms of Use Core roles include communications, compliance, corporate and business administration, finance, hr, legal, marketing, operations, risk mangement, technology and treasury. An example of this is an accountant 1 that becomes a financial analyst 2. If you do not wish to receive these communications, please check here: Reimagine Your Workforce Strategy May include direct to consumer or business to business transactions. 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. 0000002494 00000 n Insights from recent client engagements suggest a shift in thinking is underway among both management and employee leaders. Some European countries, such as Germany and Austria, have a strongly regulated labor force. Compensation, Email Building or refining job leveling structures to meet the growing and changing demands of your business will result in better communication with your employees, more clearly defined career paths, and salary structures with greater market alignment and internal equity. Manufacturing No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. But in order to understand how much we should be paying, we also need to focus internally, on the value of individual jobs. How much we need to pay begins with job analysis, job evaluation and market pricing, Pay enough to attract new employees, retain your current ones, and engage them to do their best, When it comes to sources of market value of labor, an objective approach, such as a compensation survey, is always better than a subjective approach, such as your intuition, The key to successful survey participation is being able to match your jobs to the survey, Know how to group job families and define job levels, Use different peer groups depending on the job youre trying to evaluate. 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. Benchmarks, Executive But now we know that specificity adds value. Radford polled some of our largest technology and life sciences clients in 2016 on their approach to salary administration. The Technical/Scientific levels are new and will only be used by life sciences companies. Compensation Severance and Change-in-Control Study, BENEFITS INSIGHTS It also helped alleviate the pressure for scientists to move into management roles as the only way to advance in their careers. AT&T %PDF-1.5 The skew is to the left in India and China, where more employees perform lower-level jobs relative to the US. 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. inexpensive wedding venues in southern california,
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