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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. At the end of our engagement, the company had the following tools in place: It's important to remember that job leveling systems are helpful for many types of companies from publicly-traded multinationals like the example above, to small, private, local companies seeking a flexible foundation upon which to grow. ]c\RbKSTQ C''Q6.6QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ - |" 2031 0 obj
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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. Login | Aon Rewards Companies with operations in Asia often prefer to include what we call "tweener grades" into their job leveling model. We love that we can access both technology and sales positions with a single vendor. ONLY), | Cookie
Contact Us. Annual Salary Budgets: More Than Meets the Eye - radford.com Chapter 2: How Much to Pay - Aon All rights reserved. Site Map| Survey Data Policy | Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY) | Cookie Preferences
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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. Our database, both in the US and around the world, has never been stronger. While administrative, technical and production roles can still be aligned into consistent global job levels, each of these support functions should have their own market-based pay ranges to reflect their specific values in the local market. This should provide a solid foundation for negotiations with your Works Council. We also offer complimentary online and one-on-one training. Organizational
From employees viewpoint, everyone would like more compensation. Market Capitalization (stock price x shares outstanding), Development Stage (Pre-IPO, Growing/Mature), Industry - employees with technical skills, Location - admin/production jobs not eligible for relocation, Country - peer lists reflect labor competitors in each market. 0000002381 00000 n
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To learn more about participating in a Radford survey, pleasecontact our team. ",#(7),01444'9=82. 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
Figure A: Promotion path of a junior accountant. Statement, | Do Not Sell My Data (US
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. ", "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. Salary Increase and Turnover Study
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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. 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). Core roles include communications, compliance, corporate and business administration, finance, hr, legal, marketing, operations, risk mangement, technology and treasury. 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. 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. Site Map | Survey Data Policy | Email
Figure 1 Base Salary Premium for Professional Technical Jobs vs. IT also employs student help to staff the Help Desk, Electronic and Computer Repair Services, and the Walker Technology Center. Car Policy and Time-Off Study
Global Job Leveling at Radford: A Tailor-Made Approach for Companies The system combines individual contributors and managers into global grades where market pay suggests equivalence. stream
Employee Rewards
Source: Radford Global Technology Survey, October 2015 Financial Technology
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. Analog Devices
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May include direct to consumer or business to business transactions. 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. 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. 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. In addition, their survey consultants are superb and never fail to deliver top-quality service and products. <>/Font<>/Pattern<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 720 540] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>>
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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. Our job library is the industry standard for technology firms. 0000006838 00000 n
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When designed correctly, job leveling 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. endobj
Benchmarks, Executive
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. As a compensation professional, you will be establishing the rewarding yet affordable ranges of pay and identifying the market value for jobs. hb```c``g`f`Pd`@ & 80GaD i |e`TTd;9A qa!fN f` gd0 }
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To use information contained herein, please write to our team. Location Analysis
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. Manufacturing
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 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. We hear this question a lot. If he follows the solid gold line and is promoted in the accountant family, then he has received an in-family promotion. Is it Time to Ditch Your Salary Structure for Market Pricing? We - Aon Media Relations
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. There is generally a 1-level off relationship in pay, as shown below here in the Management and Professional columns. trailer
Private Company
Most importantly, our new job code methodology will allow us to generate new jobs faster each year in reaction to shifting workforce trends. 0000004431 00000 n
The Radford survey defines technical roles as those that typically require employees to possess an engineering or computer science degree. Radford and TCM survey clients will now use a unified job library and job code methodology. Join Our Mailing List. PDF Salaries for newly hired mid-level professionals at technology Please stay tuned for additional updates regarding our exciting July publication. Benefit SpecSelect
Data shows job level is a great predictor of the level of participation and the likelihood of receiving a bonus. All personal information is collected and used in accordance with our privacy statement. Survey Services, ANALYTICS
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. Moving an above average paid employee into a higher job level lowers the average pay rate in the job they leave. Executive
When you ask a candidate how much they would like to be paid, they have an intuitive sense of their value. endobj
PDF Career Bands, Career Levels, Functions and Disciplines Some European countries, such as Germany and Austria, have a strongly regulated labor force. %PDF-1.5
Intern, New Graduate and Pay Administration Study
Comparing jobs helps us know their relative value within the company. It will likely be to your advantage to use different peer lists for different kinds of jobs. 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. Sales Compensation
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Let us know how we can help and a member of our team will be in touch shortly. For example, if every accountant gets a 4% increase, why wouldnt the average salary increase by 4%? Benefit SpecSelect
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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).
Technology
Covers activities related to business and revenue generation, supporting customers in finding products, solutions and services that best meet their needs. 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.