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. How much to pay is definitely a relative term. Partners 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. Additionally, their survey consultants and account managers are very responsive and easy to work with.". Airbnb PDF Radford Global Technology Survey overview Partners 0000001697 00000 n This is the process of comparing your company's jobs to the ones offered as benchmarks in the survey. Explore the Job Matrix This allows for more frequent performance reviews and pay adjustments. 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 <. 4 hours agoWebThe RadfordGlobal Technology Survey defines six distinct levelsof work for most individual contributor jobfamilies. hbbd``b`$w "$Z @bY qu-# %PDF-1.5 ",#(7),01444'9=82. Statement | Cookie Notice | Do Not Sell My Data (US McLagan Data & Analytics <> Radford Data & Analytics Every Radford survey client is partnered with a dedicated survey consultant to guide you through the input process. Is it Time to Ditch Your Salary Structure for Market Pricing? We - Aon Compensation, Email PDF Global Job Leveling at Radford: A Tailor-Made Approach for - Aon 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). In Figure 4, Grade 6 is subdivided into two tweener grades, 6a and 6b, in order to accommodate more frequent performance assessments. Section C Level Definitions - Aon Rewards Coinbase As a compensation professional, you will be establishing the rewarding yet affordable ranges of pay and identifying the market value for jobs. Entry-level professional jobs (level 1 and 2) don't have a big premium for new hires. Aon plc. IT Staffing National competitors, regardless of size, may be home to candidates for future employment or may be keen on poaching your key talent. If you do not wish to receive these communications, please check here: DATA ) 0 Energy and Renewables <>>> Salaries for mid-level engineers are just 6.5% higher than a year ago and overall salary increases for 2015 are running at 8.5% at the 50thpercentile. 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 Join Our Mailing List. Compensation, Private Company Join Our Mailing List. 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. Benchmarks, ADVICE Real customer service. 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. } !1AQa"q2#BR$3br 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. 4 0 obj The chart below includes a knot tying analogy that may help explain the conceptual framework for job Job Description Rewards.aon.com Jobs View All Jobs Benchmark Survey - New-Hire Sign-On Bonus Awards Severance and Change-in-Control Study, BENEFITS INSIGHTS Annual Salary Budgets: More Than Meets the Eye - radford.com Compensation The system combines individual contributors and managers into global grades where market pay suggests equivalence. %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz Press Contacts Employee Experience Study Creating a Market Query In this case, the median base salary for a customer service job at a level 3 is 11.3% higher than the same position at a level 4. 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. As previously mentioned, defining job levels within a family is a critical skill of a well-rounded compensation professional. In-Depth Research, Careers What we do. 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. Samsung 49 0 obj <>stream 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. 0000003198 00000 n In the chart above, Global Grade 5 is subdivided into two tweener grades, 5a and 5b, in order to accommodate more frequent performance assessments. Job families like accountant, engineer, and HR rep are common examples of benchmark jobs since they are found in most companies. (All form fields are required.). 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. 0000003946 00000 n 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. The simple answer to this question is "enough." The most complete job library in the business 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 Media Contacts In our illustrative example above, engineering is shown to be the highest paid function in the United States. Global Benefits No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. Covers activities related to business and revenue generation, supporting customers in finding products, solutions and services that best meet their needs. GE Insights from recent client engagements suggest a shift in thinking is underway among both management and employee leaders across Europe with regards to the type of job leveling framework that can provide the essential backbone or common operating language to support the implementation of more agile and dynamic people processes. 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. Twitter 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. Media and Gaming The most complete job library in the business Our job library is the industry standard for technology firms. Companies have recognized the value of keeping experts focused on what they do bestthe work itself. Opening for Business Reports, RADFORD PLATFORM Electronic Arts Global Job Leveling at Radford: A Tailor-Made Approach for - Aon % 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. 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. Newsletter 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. Non-Technical Jobs Source: Radford Global Technology Survey We also offer complimentary online and one-on-one training. ONLY), | Cookie On-demand Webinars, Rewards 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. 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. 0000003556 00000 n 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. Organizational The key to successful survey participation is job matching. 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. 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. 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 $4%&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz ? If he follows the solid gold line and is promoted in the accountant family, then he has received an in-family promotion. Intel, LinkedIn Contact Us COMPENSATION CONSULTING To meet the needs of your changing workforce, your pay surveys must offer a robust and reliable database, global coverage, instant data access and superior customer service in a single global source. Benchmarks, Executive 0 Private Company Let us know how best to reach you and well be in touch shortly. Corporate Governance Technology 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. 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. 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. Companies with an accounting team, for example, will typically have a variety of levels within the function. To use information contained herein, please write to our team. But in order to understand how much we should be paying, we also need to focus internally, on the value of individual jobs. The catalyst behind our job leveling architecture is our clients. PDF Radford Global Technology Survey 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. Apple To speak with a member of our consulting group about building job leveling and salary structure systems, write to consulting@radford.com. If you do not wish to receive these communications, please check here: Reimagine Your Workforce Strategy !(!0*21/*.-4;K@48G9-.BYBGNPTUT3? Aon plc. 0000001195 00000 n i"U Companies with operations in Asia often prefer to include what we call "tweener grades" into their job leveling model. Technical Jobs Continue to Command Hefty Pay Premiums; Here's How Plus, your team will be able to cut down on research time, have more energy to work on establishing consistent compensation programs, and won't have to scramble for data every time your business enters a new talent market or adds new types of jobs. Radford Global Technology Survey, we find most companies in Russia haven't dramatically increased salaries for their technical talent over the past year. 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. The dual career ladder found in many organizations offers employees the ability to earn similar levels of compensation in both management and professional tracks. When you ask a candidate how much they would like to be paid, they have an intuitive sense of their value. These types of energy are used to generate power for residential, commercial, industrial and transportation customers. The first part of understanding how much to pay is to know the philosophy and inner workings of how it's established. 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. 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. 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 What is considered high pay at one company can be on the lower spectrum at another. Site Map | Survey Data Policy | Email %%EOF Corporate Governance Increasingly, human resources and talent leaders at technology and life sciences companies seek job leveling tools that have enough built-in flexibility to handle cultural differences, local and regional regulations, diverse business needs and changing talent requirements. Peloton Global Benefits <>/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>> Analytical Job Evaluation: Value-Adding Business Process or Bureaucratic Relic? Benchmarks, Executive General Motors endobj Why don't salaries in the labor market move as fast as the average salary increase for an individual? The chart below illustrates an example of reverse pay progression in an administrative job family in Poland from the Radford Global Technology Survey. Country Profile Reports Rethink Location Strategy, Articles Streamlined ability to port Aon data into third-party tools. All personal information is collected and used in accordance with our privacy statement. Performance & Analytics, Contact Us The overall fixed compensation range for Global Grade 5 remains the same, at 560,000 INR to 1,040,000 INR; however, additional pay ranges now exist within this span. Short- and Long-Term Incentive Plan Design Study Pay Equity For example, if every accountant gets a 4% increase, why wouldnt the average salary increase by 4%? We also offer complimentary online and one-on-one training. Incumbent Distribution of Professional Individual Contributor Positions. The entire Radford Platform consists of three elements: A dynamic and intuitive portal to access compensation insights quickly and efficiently, A single database containing all survey incumbents across industries and geographies, A unified and highly differentiated job leveling system and job library that creates a common language for all clients. Let us know how we can help and a member of our team will be in touch shortly. 2168 0 obj <>stream Car Policy and Time-Off Study 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. Organizational Organizational Site Map| Survey Data Policy | Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY) | Cookie Preferences In this example, we used the midpoint of Global Grade 5, typically the market median, as the maximum pay level for Grade 5a. Next, decide which group of companies best represents your competitive market for talent. Compensation, Private Company Some European countries, such as Germany and Austria, have a strongly regulated labor force. Next, we aligned all job roles in the proposed architecture into grade levels with salary ranges attached for each geography and functional grouping. To speak with a member of our compensation consulting group, please write toconsulting@radford.com. Workday 0000001636 00000 n There are two types of student employment: financial aid workstudy and student wage positions. COMPENSATION SURVEYS Opening for Business Reports, RADFORD PLATFORM %PDF-1.5 % 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. 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. Job descriptions in Radford surveys summarize the primary responsibility of each job. 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. 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. Salary Increase and Turnover Study 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. 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. To learn more about participating in a Radford survey, please contact our team. endobj Employee Experience Study Moving into a new job as a below average paid employee pushes the average pay for that job down, too. The Radford survey defines technical roles as those that typically require employees to possess an engineering or computer science degree. 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. ABOUT US Market rates can be measured for individual jobs or groups of similar jobs with similar value. PDF Senior Technical Jobs that Offer an Alternative to Management - Aon This means that job leveling approaches quickly need to evolve beyond simply serving as defensible frameworks for pay equity. Figure 4 illustrates how tweener grades can be developed specifically for Asia within the context of a larger global leveling system. Compensation May include direct to consumer or business to business transactions. 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. <> 0000000016 00000 n 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. 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. The dual career ladder found in many organizations offers employees the ability to earn similar levels of compensation in both management and professional tracks. 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. 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. Private Company PDF Salaries for newly hired mid-level professionals at technology Compensation

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