Data shows job level is a great predictor of the level of participation and the likelihood of receiving a bonus. Insights from recent client engagements suggest a shift in thinking is underway among both management and employee leaders. Microsoft Source: Radford Global Technology Survey, October 2015 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. We hear this question a lot. 2022 Aon plc. Predictive Analytics Number of Incumbents in Benchmark Jobs Expanded Industry Coverage Explore the cards below for some quick highlights of our industry coverage. Radford polled some of our largest technology and life sciences clients in 2016 on their approach to salary administration. 0000001636 00000 n The skew is to the left in India and China, where more employees perform lower-level jobs relative to the US. And that extends to much more than their data. The most complete job library in the business. DocuSign, Domo Compensation 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. Private Companies (all industries), MARKET PRACTICE STUDIES 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. 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. To learn more about participating in a Radford survey, please contact our team. 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. In-Depth Research, Careers Support 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. The company had a large number of employees with PhDs and needed to ensure alignment between scientific, management and business career paths. May include direct to consumer or business to business transactions. 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. Multiple levels in the job family create promotional opportunities for people who grow their skills in one discipline over time. 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. Statement, | Do Not Sell My Data (US Contact Us. Predictive Analytics Severance and Change-in-Control Study, BENEFITS INSIGHTS 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. hb```c``g`f`Pd`@ & 80GaD i |e`TTd;9A qa!fN f` gd0 } Figure 2 illustrates how a globally consistent job architecture system, based on career levels, can be aligned to sample global salary range midpoints. Preferences | Legal | Privacy Companies with operations in Asia often prefer to include what we call "tweener grades" into their job leveling model. Covers activities related to enabling functions that drive business results. You'll get faster buy-in on key compensation decisions when you use Radford data. Covers activities related to business and revenue generation, supporting customers in finding products, solutions and services that best meet their needs. ", Radford is our source of truth. Twitter Build a Future-Ready Boardroom 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. Comparing jobs helps us know their relative value within the company. 5 0 obj 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. Companies with an accounting team, for example, will typically have a variety of levels within the function. 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. Pinterest Pay Equity We can agree when hiring executives, you want to compare pay levels with appropriate firms. Some European countries, such as Germany and Austria, have a strongly regulated labor force. Zoom Video, Radford is far-and-away the most comprehensive technology-focused survey in the market! A governance process to review and update the structure on a regular basis in line with changing business demands. To help combat this, comparing your salaries for technical jobs to the pay at these companies is critical. Survey Services, ANALYTICS General Motors 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. 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. Samsung A great global job leveling program is the foundation for creating a compelling, fair and market-oriented approach to managing your talent for optimal business results. 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. Newsroom UiPath 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. JFIF ` ` C It's important to take these types of differences into consideration when developing global leveling structures. 2015 0 obj <> endobj To learn more about this exciting enhancement to the Radford survey platform, we encourage you to read more below: The new Radford Global Compensation Database is structured around "Job Modules". Explore the Job Matrix 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. 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. This is the process of comparing your company's jobs to the ones offered as benchmarks in the survey. 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. Statement, | Do Not Sell My Data (US 0000005186 00000 n Enable the Future of Pay 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. Their reliable market data closely aligns with our compensation philosophy, so its a natural fit. Global Benefits 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. All rights reserved. The Radford Global Technology Survey defines six distinct levels of work for most individual contributor job families. Salary Increase and Turnover Study 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, that's not always the case. COMPENSATION CONSULTING 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. 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. Every Radford survey client is partnered with a dedicated survey consultant to guide you through the input process. 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. 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. %%EOF 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. Performance & Analytics, Contact Us Organizational structure and design affects every aspect of a business, including talent mobility, compensation programs and even the speed of innovation. Benefit SpecSelect We also offer complimentary online and one-on-one training. From employees viewpoint, everyone would like more compensation. Covers activity related to the fossil fuels and renewable energy sectors, as well as in mining. 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. These types of energy are used to generate power for residential, commercial, industrial and transportation customers. This should provide a solid foundation for negotiations with your Works Council. Sales Compensation <> 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. Square 2015 17 Media and Gaming 0000000653 00000 n Build a Future-Ready Boardroom 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. Covers activities related to business and revenue generation, supporting customers in finding products, solutions and services that best meet their needs. Quick Benchmarks Overview 0000003198 00000 n 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. Companies have recognized the value of keeping experts focused on what they do best. The career path and market level of an individual job based on a consistent set of defined dimensions. 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. In this case, the job family is divided into different levels, each with a different target rate of pay. Distribution of Radford Global Technology Survey Participants, Select Radford Global Technology Participants, Adobe Systems At Radford, our global leveling approach, which is integrated into the global architecture of our surveys, meets these requirements. 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. 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. endstream endobj 2030 0 obj <>/Filter/FlateDecode/Index[106 1909]/Length 63/Size 2015/Type/XRef/W[1 1 1]>>stream Click to read our newest article on Radford's approach to global job leveling. 2031 0 obj <>stream The executive peer list is very important to get right. 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. SunPower 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. 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. Aon plc. How much to pay is definitely a relative term. Newsletter Accelerate Your Workforce into the Future 0000003556 00000 n Pandora Media Product Support A G+20n9X,R{,A Hw#?CKA#nX> %a]DA:.@`3Z' )[ Preferences, Privacy Severance and Change-in-Control Study, BENEFITS INSIGHTS For example, if every accountant gets a 4% increase, why wouldnt the average salary increase by 4%? COMPENSATION SURVEYS All personal information is collected and used in accordance with our privacy statement. Alibaba Preferences, Calculates rope strength. High-quality data, direct from HR teams Preferences. Compensation, Private Company 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. Knows a lot about knots. 0000004431 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. 4 hours agoWebThe RadfordGlobal Technology Survey defines six distinct levelsof work for most individual contributor jobfamilies. IT also employs student help to staff the Help Desk, Electronic and Computer Repair Services, and the Walker Technology Center. When an employee assumes greater responsibility while continuing to perform the same basic function, it is recognized as an in-family promotion. 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. Compensation Surveys 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. Job families like accountant, engineer, and HR rep are common examples of benchmark jobs since they are found in most companies. Options include formal evaluation (point factor system) or informal agreements (slotting/ranking systems). <]/Prev 216869/XRefStm 1195>> There are two basic ways that you can go about matching jobs: Another term that you will see a lot when it comes to surveys is job families. 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). 0 <> ST Micro Aon plc. Compensation, Private Company Location Analysis