An increasing number of companies in the US are also using global leveling systems as a way to determine eligibility for all manner of compensation and benefits programs, not just for setting base salary levels. We also offer complimentary online and one-on-one training. Global Job Leveling at Radford: A Tailor-Made Approach for Companies We listened extensively about what clients love about what we do, and what things needed to evolve to meet the needs of the innovation industries. Newsroom When you ask a candidate how much they would like to be paid, they have an intuitive sense of their value. Here are a few things that you should be aware of. As a compensation professional, you will be establishing the rewarding yet affordable ranges of pay and identifying the market value for jobs. Although it is more than 10 years old, Radford's global job leveling system remains as relevant today as when it was first introduced. Core roles would include engineering, production, supply chain, skill trades. Job Levels - Pave Support Pay Equity In this example, we used the midpoint of Global Grade 5, typically the market median, as the maximum pay level for Grade 5a. Aon plc. Dual career ladders, where managers and individual contributors progress up the ranks in similar organizational levels, are much more common at technology and life sciences companies in the US. Creating a Market Query Join Our Mailing List. DATA Next, decide which group of companies best represents your competitive market for talent. 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. The contents herein may not be reproduced, reused, reprinted or redistributed without the expressed written consent of Aon, unless otherwise authorized by Aon. A high level overview ofour best tools and how to put them to work for you. A governance process to review and update the structure on a regular basis in line with changing business demands. Tesla High-quality data, direct from HR teams Radford polled some of our largest technology and life sciences clients in 2016 on their approach to salary administration. Compensation Surveys Role is a member of the Board of Directors/Main Board and the most senior position in the organization. Lower starting pay for new hires can also explain why rates move more slowly overall than you might think. 2015 0 obj <> endobj We can agree when hiring executives, you want to compare pay levels with appropriate firms. Reports Compensation Why don't salaries in the labor market move as fast as the average salary increase for an individual? Accelerate Your Workforce into the Future sraPpk+LH/5upf\? Philips Healthcare Equity Services, Compensation 101 Covers activities related to enabling functions that drive business results. Please stay tuned for additional updates regarding our exciting July publication. IBM If you do not wish to receive these communications, please check here: Reimagine Your Workforce Strategy 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. hb```fB>c`BPNINc]R\TVG]6;Hd5-Iti~%pSOc\UD] z$m;IpvkK-t/\sCM7T:cQmtIY7LLCH*GkfP|@x~ Upcoming Events and Webinars 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. 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. 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. 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. Rewards Optimization IT Staffing Lattice Radford Global Technology Survey | Radford Product Resource Center - Aon $4%&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz ? Core roles include communications, compliance, corporate and business administration, finance, hr, legal, marketing, operations, risk mangement, technology and treasury. stream Benchmarks, ADVICE 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 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. Well with our enhanced Peer Group functionality, you will be able to do just that. Severance and Change-in-Control Study, BENEFITS INSIGHTS This is the process of comparing your company's jobs to the ones offered as benchmarks in the survey. Organizational hb```c``g`f`Pd`@ & 80GaD i |e`TTd;9A qa!fN f` gd0 } Compensation 101 - Chapter 6 - Cash Awards Equity Services, Compensation 101 The most complete job library in the business. 0 %%EOF When an employee is promoted, they move from one job level to another. Benchmarks, Executive Site Map| Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY) | Cookie Preferences Figure 2 illustrates how a globally consistent job architecture system, based on career levels, can be aligned to sample global salary range midpoints. Most companies that turn to job leveling find the approach to be more transparent, fairer and easier to communicate to employees. 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). The same is true for using job leveling structures as a starting point to create salary structures. As the dynamic technology sector job market continues to evolve, we regularly take stock of the jobs contained within the Radford Global Technology Survey. Energy and Renewables Here are a few things that you should be aware of. Workforce Planning We're much more than a data provider Our job library is the industry standard for retail and e-commerce firms. They need to also serve as backbones for career path development, international mobility and incentive plan design. 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. When headcount grows, it quickly becomes incumbent upon companies to find effective ways to organize jobs into job families where similar work is performed. Life Sciences Purchasing a large, well-established salary survey may seem like a big expense, but you're likely to see a return on investment within your first few hires. 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. 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. %PDF-1.5 % Cisco Systems The days of aging stale data and scraping together tidbits of information from the internet are over. Plus, we have a 60-person global consulting team ready to handle your biggest plan design challenges. % To speak with a member of our consulting group about building job leveling and salary structure systems, write to consulting@radford.com. 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. Stryker Facebook All rights reserved. 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 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. Site Map| Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY) | Cookie Preferences The Radford Global Technology Survey defines six distinct levels of work for most individual contributor job families. Benchmarks, ADVICE 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 We hear this question a lot. We're ready to tackle your biggest talent & rewards challenges. 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. What this means for you: One globally consistent input process; One output methodology 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. Pandora Media These choices that you make will help line managers and business leaders make their hiring decisions with more knowledge, insight, and confidence. RADFORD GLOBAL TECHNOLOGY SURVEY The landscape for compensation professionals is shifting rapidly in a truly global economy. Organizational structure and design affects every aspect of a business, including talent mobility, compensation programs and even the speed of innovation. 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. Location Analysis For example, if every accountant gets a 4% increase, why wouldnt the average salary increase by 4%? Covers activities related to business and revenue generation, supporting customers in finding products, solutions and services that best meet their needs. The reality is that a large, reputable survey provider will allow you to complete a much more sophisticated analysis today.
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