From employees viewpoint, everyone would like more compensation. Data shows job level is a great predictor of the level of participation and the likelihood of receiving a bonus. 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. Plus, looking at the technology sector can also help to establish broader benchmarks for the purposes of defining pay levels. 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. Workforce Planning Covers activity related to the fossil fuels and renewable energy sectors, as well as in mining. 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. 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. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. Compensation 101 - Chapter 6 - Cash Awards 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. DocuSign, Domo 0000002494 00000 n Covers activities related to scientific research and development of products such as pharmaceuticals, biologics, therapeutics, diagnostics, medical devices, animal health, etc. We're much more than a data provider Radford Job Leveling Chart 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. The contents herein may not be reproduced, reused, reprinted or redistributed without the expressed written consent of Aon, unless otherwise authorized by Aon. 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 <. sraPpk+LH/5upf\? 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. Streamlined ability to port Aon data into third-party tools. Executive All personal information is collected and used in accordance with our privacy statement. The Radford Global Technology Survey defines six distinct levels of work for most individual contributor job families. Statement | Cookie Notice | Do Not Sell My Data (US 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. 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%. These types of energy are used to generate power for residential, commercial, industrial and transportation customers. We also conducted detailed interviews with senior leaders to confirm our understanding of job content, career progression criteria and global level differentiators. Private Companies (all industries), MARKET PRACTICE STUDIES Our database, both in the US and around the world, has never been stronger. 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. Pay is generally higher (for the executive level) at larger companies, so a peer group of companies that are in the same general size range or perhaps slightly bigger is appropriate. Join Our Mailing List. In Europe for example, a recent survey by our consulting practice indicates that 20% of responding companies revaluated or redesigned their job leveling architecture in the past year, and another 30% of respondents are prioritizing updates in the year ahead. Importantly, most companies that turn to job leveling find the approach to be more transparent, fairer and easier to communicate to employees. Contact Us Upcoming Events and Webinars In this example, we used the midpoint of Global Grade 5, typically the market median, as the maximum pay level for Grade 5a. Figure A: Promotion path of a junior accountant. Until this point, the client had different approaches to managing compensation programs and job grading across its functional areas and business units. In our illustrative example above, engineering is shown to be the highest paid function in the United States. What we do. A governance process to review and update the structure on a regular basis in line with changing business demands. 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 Product Release Notes Explore the fastest way to find jobs in the Radford Surveys, including job matching incumbent counts for your company. SAP, Siemens Organizational 0000001195 00000 n stream ONLY), | Cookie Global levels can be used to determine a position's eligibility for short- or long-term incentives, bonus targets and equity grant guidelines. 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. 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. 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. 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. Non-Technical Jobs Source: Radford Global Technology Survey Accelerate Your Workforce into the Future Whether you're looking for instant results or need to run multiple complex queries, our Quick Benchmarks, Market Queries, and Country Totals tools are optimized to provide you with the power and flexibility you need to mine our data with ease and generate market-leading compensation insights. Covers activities related to business and revenue generation, supporting customers in finding products, solutions and services that best meet their needs. 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. 0 What is considered high pay at one company can be on the lower spectrum at another. 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. America:+1 (866) 431.4796 [email protected] What Our Clients Say About Radford "The Radford Consulting team was instrumental in creating our harmonised global compensation system. 0000000653 00000 n Job descriptions in Radford surveys summarize the primary responsibility of each job. 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. 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. The overall fixed compensation range remains the same; however, additional pay ranges now exist within this span. The most complete job library in the business. In addition, their survey consultants are superb and never fail to deliver top-quality service and products. 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. 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. Employee Rewards Site Map| Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY) | Cookie Preferences 0000004763 00000 n Talent Assessment Radford Data & Analytics Explore the Job Matrix 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. Location Analysis Core roles include communications, compliance, corporate and business administration, finance, hr, legal, marketing, operations, risk mangement, technology and treasury. If you do not wish to receive these communications, please check here: Reimagine Your Workforce Strategy Pay Equity Although it is more than 10 years old, Radford's global job leveling system remains as relevant today as when it was first introduced. 2 0 obj ONLY) | Cookie 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. 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. Preferences 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. PDF Career Bands, Career Levels, Functions and Disciplines But now we know that specificity adds value. 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. 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 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. National competitors, regardless of size, may be home to candidates for future employment or may be keen on poaching your key talent. These types of energy are used to generate power for residential, commercial, industrial and transportation customers. All personal information is collected and used in accordance with our privacy statement. Rewards Optimization Large, global enterprises need a job leveling structure that not only provides flexibility for the unique circumstances of different countries and regions (as explained in more detail in this article) but is also compatible between different markets. 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. Radford Global Technology Survey | Radford Product Resource Center - Aon ", "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. xref Compensation, Email 0000004346 00000 n endobj Most companies that turn to job leveling find the approach to be more transparent, fairer and easier to communicate to employees. Some European countries, such as Germany and Austria, have a strongly regulated labor force. Technical Jobs Continue to Command Hefty Pay Premiums; Here's How Talent Assessment 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. Fitbit Philips Healthcare Posted: (6 days ago) WebThe Radford Global Technology Survey defines six distinct levels of work for most individual contributor job families. Retail and E-commerce 0000006838 00000 n A G+20n9X,R{,A Hw#?CKA#nX> %a]DA:.@`3Z' )[ 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. 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. In the US, there is a normal distribution, a bell curve that is typical in each job family. Product Release Notes %PDF-1.7 % 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. Cisco Systems 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. 0000003198 00000 n Zoom Video, Radford is far-and-away the most comprehensive technology-focused survey in the market! Life Sciences The Radford Global Technology Survey defines six distinct levels of work for most individual contributor job families. 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. endstream %PDF-1.4 % This allows for more frequent performance reviews and pay adjustments. With career development and perceptions of fairness frequently ranked at the top of employee engagement goals for both employees and companies, the most effective job leveling models need to embed an organization's desired culture and evolve beyond simply serving as defensible frameworks for pay equity. Terms of Use ", Radford is our source of truth. An example of this is an accountant 1 that becomes a financial analyst 2. Our job library is the industry standard for retail and e-commerce firms. hb```fB>c`BPNINc]R\TVG]6;Hd5-Iti~%pSOc\UD] z$m;IpvkK-t/\sCM7T:cQmtIY7LLCH*GkfP|@x~ This is the process of comparing your company's jobs to the ones offered as benchmarks in the survey. } !1AQa"q2#BR$3br 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. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. 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. All personal information is collected and used in accordance with our privacy statement. Enable the Future of Pay Figure 1 Base Salary Premium for Professional Technical Jobs vs. Short- and Long-Term Incentive Plan Design Study In-Depth Research, Careers SunPower Media and Gaming General Disclaimer In this case, the job family is divided into different levels, each with a different target rate of pay. COMPENSATION CONSULTING 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 To learn more about participating in a Radford survey, please contact our team. For example, if every accountant gets a 4% increase, why wouldnt the average salary increase by 4%? Employees who have technical or scientific skills are no longer required, or even encouraged, to pursue management roles in an attempt to further their careers if that's not their desired career path or they lack managerial skills. It will likely be to your advantage to use different peer lists for different kinds of jobs. 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. That may come from an amount based on what they earned at a previous job, the amount they think others get, what they need to make ends meet, or what they've heard from recruiters and seen on job boards. 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. Technical Jobs Continue to Command Hefty Pay Premiums; Here's How 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. In-Depth Research, Careers endstream endobj 26 0 obj <> endobj 27 0 obj <> endobj 28 0 obj <>stream 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. Intel, LinkedIn Private Company Here are a few things that you should be aware of. Multiple levels in the job family create promotional opportunities for people who grow their skills in one discipline over time. Square Lattice Companies have recognized the value of keeping experts focused on what they do bestthe work itself. Infographics Preferences | Legal | Privacy This means a custom report, which would have taken days or even weeks to complete in the past, can now be run in a matter of minutes. 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. 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 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. Companies with an accounting team, for example, will typically have a variety of levels within the function. 25 0 obj <> endobj As the dynamic technology sector job market continues to evolve, we regularly take stock of the jobs contained within the Radford Global Technology Survey. Annual Salary Budgets: More Than Meets the Eye - radford.com 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. 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. Facebook Client Results We also offer complimentary online and one-on-one training. endstream endobj 2149 0 obj <>>>/Pages 2143 0 R/StructTreeRoot 106 0 R/Type/Catalog>> endobj 2150 0 obj <. Figure A below shows the promotion path of a junior accountant. 0000004431 00000 n 2168 0 obj <>stream To speak with a member of our compensation consulting group, please write [email protected]. At technology and life sciences companies in the US, dual career ladderswhere managers and individual contributors progress up the ranks in similar organizational levelsis now an organizational norm. For example, in Germany there is a strong influence from employee representatives (often in the form of Works Councils) enforced by the "Mitbestimmungesetz," which requires that half the seats of the supervisory board represent the workforce. The simple answer to this question is "enough." 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. Partner with a trusted resource To help combat this, comparing your salaries for technical jobs to the pay at these companies is critical. DATA Well with our enhanced Peer Group functionality, you will be able to do just that. Pinterest However, that's not always the case. This is why we built the Radford Network from the ground up as a platform without borders. The catalyst behind our job leveling architecture is our clients. Job Levels - Pave Support It also helped alleviate the pressure for scientists to move into management roles as the only way to advance in their careers. Compensation First off, global competitors of similar or larger size chosen for executive analysis may include some companies outside your core industry. We're ready to tackle your biggest talent & rewards challenges. Organizational structure and design affects every aspect of a business, including talent mobility, compensation programs and even the speed of innovation. Regardless of relative internal valuations, we need to attach payto jobs using a sense of the market price. 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. 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. Let us know how best to reach you and a member of our team will be in touch shortly. 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. 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. Why don't salaries in the labor market move as fast as the average salary increase for an individual? How much to pay is definitely a relative term. Reports The chartbelow includes a knot tying analogy that may help explain the conceptual framework for job Preview / Show more See Also: JobShow details What Is a Job Leveling Matrix? This allows for more frequent performance reviews and pay adjustments. Sales Compensation These promotions usually happen when a requisition is filled by an internal candidate or some form of department reorganization occurs. 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. Product Release Notes - Aon Stryker As the results from Aon Hewitt's 2014Trends in Global Engagement show, career development is at the top of employee engagement goals for both employees and companies. McLagan Data & Analytics ST Micro 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. Compensation 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.
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