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. Using Workforce Analytics to Solve Broader Business Challenges in the Data shows job level is a great predictor of the level of participation and the likelihood of receiving a bonus. 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. 2022 Aon plc. 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. To help combat this, comparing your salaries for technical jobs to the pay at these companies is critical. stream 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. 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. Compensation, Email The key to successful survey participation is job matching. Survey Services, ANALYTICS The most complete job library in the business Our job library is the industry standard for technology firms. The most complete job library in the business 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. Pinterest Organizational JFIF Ducky d C Workforce Planning 0000003556 00000 n Rethink Location Strategy, Articles Most importantly, our new job code methodology will allow us to generate new jobs faster each year in reaction to shifting workforce trends. Covers activities related to enabling functions that drive business results. 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. $4%&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz ? 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. In this case, the job family is divided into different levels, each with a different target rate of pay. Client Results How much to pay is definitely a relative term. Media Relations Riot Games DoorDash Chapter 2: How Much to Pay - Aon Promotions are one reason. PDF Radford Global Technology Survey overview 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. Join Our Mailing List. 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. Additionally, their survey consultants and account managers are very responsive and easy to work with.". 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. Sales Professionals (all industries) Multiple levels in the job family create promotional opportunities for people who grow their skills in one discipline over time. 49 0 obj <>stream Aon plc. 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. Twitter 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. Close the Future Skills Gap Private Companies (all industries), MARKET PRACTICE STUDIES We can agree when hiring executives, you want to compare pay levels with appropriate firms. 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. Newsletter endobj It's important to take these types of differences into consideration when developing global leveling structures. Site Map| Survey Data Policy | Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY) | Cookie Preferences 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 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 Solutions 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. Use the interactive maps below to explore our coverage in more detail by country or state: The consolidation of multiple legacy surveys onto a single global platform, while leveraging a unified global job architecture and leveling system, along with a unified job library, creates an unmatched resource for the worlds most innovative and dynamic companies. DocuSign, Domo Radford Global Job Architecture and Leveling System, Short- and Long-Term Incentive Design Study, Intern, New Graduate, Pay Administration Study, Sales Incentive Practices and Car Policy Study, Short- and Long-Term Incentive Plan Design Study, Intern, New Graduate and Pay Administration Study. Benchmarks, Executive When headcount grows, it quickly becomes incumbent upon companies to find effective ways to organize jobs into job families where similar work is performed. Covers activity related to the fossil fuels and renewable energy sectors, as well as in mining. Sets the direction and policies for sales activities and manages the execution of these plans. In our illustrative example above, engineering is shown to be the highest paid function in the United States. As a compensation professional, you will be establishing the rewarding yet affordable ranges of pay and identifying the market value for jobs. The first part of understanding how much to pay is to know the philosophy and inner workings of how it's established. Short- and Long-Term Incentive Plan Design Study Determine what people do by watching, documenting, and understanding the reasons jobs exist. 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. 5 0 obj This in turn empowers us to stay competitive as it relates to our employee population. Philips Healthcare %PDF-1.5 AT&T Intern, New Graduate and Pay Administration Study Companies with more internal job levels than database job levels should approach job matching from the "ends." Uber Press Contacts %PDF-1.7 % What we do. 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. 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. %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz 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. The maximum pay level for Grade 5b is the same as the maximum pay level for Global Grade 5. Streamlined ability to port Aon data into third-party tools. 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. Private Company Here are a few things that you should be aware of. 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). endobj 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. %%EOF To learn more about participating in a Radford survey, pleasecontact our team. endobj Site Map| Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY) | Cookie Preferences Core roles would include engineering, production, supply chain, skill trades. Finally, we undertook an impact analysis to understand the cost implications of moving to a new global system targeted at various levels of market competiveness (e.g., the impact of setting pay to 50th vs. 60th vs. 65th percentiles of the market). 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. In Germany, there is a strong level of influence from employee representatives (often in the form of Works Councils), which require a proportion of the seats of the supervisory board to represent the workforce. All personal information is collected and used in accordance with our privacy statement. An example of this is an accountant being promoted to a senior accountant. From employees viewpoint, everyone would like more compensation. Core roles include communications, compliance, corporate and business administration, finance, hr, legal, marketing, operations, risk mangement, technology and treasury. Preferences | Legal | Privacy The reality is that a large, reputable survey provider will allow you to complete a much more sophisticated analysis today. Global Benefits Our job library is the industry standard for retail and e-commerce firms. 0000001413 00000 n All rights reserved. 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. 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. The chart below illustrates how tweener grades can be developed specifically for Asia within the context of a larger global 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. 2 0 obj 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. 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. Role is a member of the Board of Directors/Main Board and the most senior position in the organization. As previously mentioned, defining job levels within a family is a critical skill of a well-rounded compensation professional. 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. 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. The Radford Global Technology Survey defines six distinct levels of work for most individual contributor job families. ONLY), | Cookie 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. Lower starting pay for new hires can also explain why rates move more slowly overall than you might think. Managing the distribution of employees at different levels is a way to ensure that you are developing new talent and shifting work that requires a lower level of skill to employees at more junior levels and lower levels of pay. 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. 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. h1 04q\wC&`'MF[!! To use information contained herein, please write to our team. The dual career ladder found in many organizations offers employees the ability to earn similar levels of compensation in both management and professional tracks. Statement, | Do Not Sell My Data (US Press Contacts There are three important facts you need to know about our job modules: Radford and TCM survey clients will now use a unified job library and job code methodology. Why don't salaries in the labor market move as fast as the average salary increase for an individual? 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. Partners The company needed to evaluate and compare its current leveling structures across the business against each other; develop a single consistent approach to leveling jobs; assign grades across the business; and develop a dual career ladder, as too much emphasis was being placed on management hierarchy at the expense of the technical individual contributor career paths. hbbd``b`$w "$Z @bY qu-# ABOUT US These types of energy are used to generate power for residential, commercial, industrial and transportation customers. PDF Career Bands, Career Levels, Functions and Disciplines A consistent leveling structure enables more robust and diverse analytics across sectors, geographies, and jobs. 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. ONLY) | Cookie This is the process of comparing your company's jobs to the ones offered as benchmarks in the survey. Next, decide which group of companies best represents your competitive market for talent. Radford has been an integral part in closing some of the Top Management positions and their work continues to speak for themselves. PDF Global Job Leveling at Radford: A Tailor-Made Approach for - Aon Contact Us. IBM Plus, we have a 60-person global consulting team ready to handle your biggest plan design challenges. Organizational 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. endstream endobj startxref Dell 1 0 obj 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. 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. SAP, Siemens Preferences, Privacy 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. Media Contacts Covers activity related to the fossil fuels and renewable energy sectors, as well as in mining. Car Policy and Time-Off Study 2168 0 obj <>stream Life Sciences 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. Private Company 0000004346 00000 n Coinbase 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. All rights reserved. The dual career ladder found in many organizations offers employees the ability to earn similar levels of compensation in both management and professional tracks. 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". Radford Data & Analytics Terms of Use Radford Job Levels | Now Hiring Figure 4 illustrates how tweener grades can be developed specifically for Asia within the context of a larger global leveling system. 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. Join Our Mailing List. A consistent leveling structure enables more robust and diverse analytics across sectors, geographies, and jobs. A shift to a job at a higher level in a different job family is referred to as an out-of-family promotion. 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. Radford and TCM survey clients will now use a unified job library and job code methodology. 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. Covers activities related to scientific research and development of products such as pharmaceuticals, biologics, therapeutics, diagnostics, medical devices, animal health, etc. 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. An example of this is an accountant 1 that becomes a financial analyst 2. %PDF-1.5 % Infographics xref At Radford, our global leveling approach, which is integrated into the global architecture of our surveys, meets these requirements. Organizational structure and design affects every aspect of a business, including talent mobility, compensation programs and even the speed of innovation. endstream 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. 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. 0000003198 00000 n Square Terms of Use There are two types of student employment: financial aid workstudy and student wage positions. May include direct to consumer or business to business transactions. Companies with an accounting team, for example, will typically have a variety of levels within the function. Tesla 2015 0 obj <> endobj On-demand Webinars, Rewards IT Staffing 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.
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