Media Relations Radford Job Leveling Chart Location Analysis Radford Renewal 2023 - Aon w !1AQaq"2B #3Rbr Plus, looking at the technology sector can also help to establish broader benchmarks for the purposes of defining pay levels. These positions should be analyzed using local data and while the generator may reflect local conditions in some areas, custom analysis may be needed for other markets. Short- and Long-Term Incentive Plan Design Study Radford polled some of our largest technology and life sciences clients in 2016 on their approach to salary administration. Annual Salary Budgets: More Than Meets the Eye - radford.com 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. 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. If instead he follows the dotted gold line and becomes a financial analyst, then he receives an out-of-family promotion. 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. Preferences | Legal | Privacy Core roles would include engineering, production, supply chain, skill trades. 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. In an era where many companies are concerned with and actively root out pay inequities, as well as the deeper structural issues that can sometimes lead to them, job leveling is a system that can support this important effort. 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. To learn more about participating in a Radford survey, please contact our team. stream Partners Infographics Rewards Optimization In our illustrative example above, engineering is shown to be the highest paid function in the United States. 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. 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. 1 0 obj Severance and Change-in-Control Study, BENEFITS INSIGHTS Real customer service Using Workforce Analytics to Solve Broader Business Challenges in the Organizational structure and design affects every aspect of a business, including talent mobility, compensation programs and even the speed of innovation. Section C Level Definitions - Aon Rewards <>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 12 0 R 13 0 R 14 0 R 15 0 R 16 0 R] /MediaBox[ 0 0 612 792] /Contents 5 0 R/Group<>/Tabs/S>> Here are some detailed considerations worth mentioning to help you in this process: General Disclaimer Access to jobs on the Radford Global Compensation Database requires the purchase of these job modules.Today, clients can purchase one or a combination of job modules, or collections of job families, for a deeper analysis of industry segments. Financial Technology Join Our Mailing List. Manufacturing The executive peer list is very important to get right. 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. 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. 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. Sales Compensation PDF A4 EMEA cov front - Radford These grades are intermediate steps within a global career level that have their own specific base salary or fixed compensation ranges. Preferences 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. <> 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. 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. <> Years ago, companies routinely thought that the same peer list, or even results drawn from all participants in a survey, made for an effective benchmark analysis. 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. Site Map | Survey Data Policy | Email These types of energy are used to generate power for residential, commercial, industrial and transportation customers. endobj 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. There is generally a 1-level off relationship in pay, as shown below here in the Management and Professional columns. hb```b``if`a`: |l@ &zSag`]naG)M*Ejca"NE7cJ9&D<>`_/MtLbMgsES]]eW2V^sjLbd=ohiYS(EF,R 0)au-^F8>H(yAA %%%% g4 T>:h$"tAaBW(+"r20 yXl$?cv70YhdP`s`c3b30l`Ay4M?xdt=-5>Df@3iJa`(d`+ y tyj Opening for Business Reports, RADFORD PLATFORM Number of Incumbents in Benchmark Jobs Expanded Industry Coverage Explore the cards below for some quick highlights of our industry coverage. Top Ten Tools of the Radford Network Benchmarks, Executive 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. 0 Let us know how we can help and a member of our team will be in touch shortly. Preferences, Privacy 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. Product Release Notes Performance & Analytics, Contact Us endobj Here are a few things that you should be aware of. Organizational A family is a set of individual jobs that each involves the same basic type of work but at different levels of skill and responsibility. Compensation 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. Role is a member of the Board of Directors/Main Board and the most senior position in the organization. Technology 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). 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 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. %PDF-1.7 % 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. 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. Solutions Figure A: Promotion path of a junior accountant. Partner with a trusted resource To learn more about participating in a Radford survey, pleasecontact our team. When you ask a candidate how much they would like to be paid, they have an intuitive sense of their value. Alibaba Media Contacts 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. 3 0 obj Upcoming Events and Webinars 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. 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. Pandora Media Uber AT&T Contact Us. 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. ABOUT US 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. Energy and Renewables UiPath Some European countries, such as Germany and Austria, have a strongly regulated labor force. In Asia, it is also important to evaluate pay levels for support functions very carefully to separate technical positions from administrative roles and skilled production jobs whose requirements and pay levels may vary considerably. An increasing number of companies in the US are also using global leveling systems as a way to determine eligibility for all types of rewards programs, not just for setting base salary levels. Preferences. Reports Site Map| Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY) | Cookie Preferences <]/Prev 216869/XRefStm 1195>> Financial Technology 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. 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. 0000002806 00000 n The maximum pay level for Grade 5b is the same as the maximum pay level for Global Grade 5. There are several compelling reasons why companies should take time now to evaluate their global job leveling structures, including: Figure 1 illustrates how job leveling systems can address a number of common business concerns: Figure 1 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. The dual career ladder found in many organizations offers employees the ability to earn similar levels of compensation in both management and professional tracks. Private Company 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. Sets the direction and policies for sales activities and manages the execution of these plans. Product Release Notes Microsoft The first thing we need to decide is which employees (or incumbents) working elsewhere are good representatives of our specific labor market. 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. 0000003198 00000 n ABOUT US This infrastructure is also easier to maintain as a company continues to grow its workforce and geographic reach. 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. Job Levels - Pave Support Radford Global Technology Survey, we find most companies in Russia haven't dramatically increased salaries for their technical talent over the past year. Talent Assessment endobj 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. 2022 Aon plc. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. 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. Survey Services, ANALYTICS sraPpk+LH/5upf\? In this example, we used the midpoint of Global Grade 5, typically the market median, as the maximum pay level for Grade 5a. These days, between governance issues and the reality of firms operating in many locations with different competitors, different lists of peer companies should be used for each of your major international theaters. 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. These types of energy are used to generate power for residential, commercial, industrial and transportation customers. Drive Diversity, Equity and Inclusion Lower starting pay for new hires can also explain why rates move more slowly overall than you might think. Reports However, that's not always the case. Fitbit Every Radford survey client is partnered with a dedicated survey consultant to guide you through the input process. In general, if your job content matches a survey job by 75% or more, it can be considered a good match. When a hiring manager is opening a requisition, they too have an idea of knowing how much a job is worth. 2 0 obj 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. 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? Incumbent Distribution of Professional Individual Contributor Positions. 2148 0 obj <> endobj If you do not wish to receive these communications, please check here: COMPENSATION SURVEYS Compensation 0000005186 00000 n For example, if every accountant gets a 4% increase, why wouldnt the average salary increase by 4%? Figure 1 Base Salary Premium for Professional Technical Jobs vs. Dell 4 hours agoWebThe RadfordGlobal Technology Survey defines six distinct levelsof work for most individual contributor jobfamilies. Tesla Board members, C-suite leaders, HR colleagues, recruiters, and even candidates, all know and trust the Radford name. 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. 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. 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. Covers activity related to the fossil fuels and renewable energy sectors, as well as in mining. The Radford Platform in conjunction with the Radford Global Compensation Database and the Radford Network provides human resources and compensation professionals with access to rewards insights covering more companies, employees and countries on a single multi-industry survey platform than any other data provider. Terms of Use On-demand Webinars, Rewards 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. Eventbrite From employees viewpoint, everyone would like more compensation. 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. Covers activities related to enabling functions that drive business results. Market rates can be measured for individual jobs or groups of similar jobs with similar value. Radford Data & Analytics b FG)AuA%` 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. The catalyst behind our job leveling architecture is our clients. 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". 2 0 obj The career path and market level of an individual job based on a consistent set of defined dimensions. Box It will likely be to your advantage to use different peer lists for different kinds of jobs. Zero in on the data that matters most to you Let us know how best to reach you and well be in touch shortly. 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. Analog Devices In-Depth Research, Careers Sales Professionals (all industries) The contents herein may not be reproduced, reused, reprinted or redistributed without the expressed written consent of Aon, unless otherwise authorized by Aon. 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. Peloton 5 0 obj Our database, currently spanning 4.8 million people at 1,656 technology organizations, is updated quarterly, allowing Radford to deliver the timely, targeted data you need to compete in today's hottest talent hubs. Corporate Governance 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. Promotions are one reason. But now we know that specificity adds value. 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. When an employee assumes greater responsibility while continuing to perform the same basic function, it is recognized as an in-family promotion. 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. Moving an above average paid employee into a higher job level lowers the average pay rate in the job they leave. _P8>w-V%E1~U}nx[M[o$(l7xX:fk}veLhlqNj i{$kT~UjzKj:0/ We also offer complimentary online and one-on-one training. Life Sciences Embedding a common language for job leveling and career mapping into the culture of a company at an early stage can have long-lasting benefits. 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. This in turn empowers us to stay competitive as it relates to our employee population. Radford Global Technology Survey | Radford Product Resource Center - Aon Analytical forms of job evaluation, such as the point-factor approach, continue to dominate the landscape in many European countries due to the regulatory environment, which requires pay equity compliance in collective labor agreements. <> Build a Future-Ready Boardroom Performance & Analytics, Contact Us Riot Games These promotions usually happen when a requisition is filled by an internal candidate or some form of department reorganization occurs. Covers activities related to scientific research and development of products such as pharmaceuticals, biologics, therapeutics, diagnostics, medical devices, animal health, etc. Careers. Severance and Change-in-Control Study, BENEFITS INSIGHTS This should provide a solid foundation for negotiations with your Works Council. Covers activities related to business and revenue generation, supporting customers in finding products, solutions and services that best meet their needs. Press Contacts Radford and TCM survey clients will now use a unified job library and job code methodology. 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. %%EOF 49 0 obj <>stream All rights reserved. JFIF Ducky d C <> El. Covers activity related to the fossil fuels and renewable energy sectors, as well as in mining. Covers activities related to the conversion of raw materials into goods including both consumer and industrial. Radford Global Technology Survey | Radford Product Resource Center - Aon % endobj 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. In the chart above, Global Grade 5 is subdivided into two tweener grades, 5a and 5b, in order to accommodate more frequent performance assessments. Companies with more internal job levels than database job levels should approach job matching from the "ends." Media Relations If a company wants to implement a new grading or leveling approach, the Works Council must approve the changes and be involved in the decision-making process. 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. When an employee is promoted, they move from one job level to another. To speak with a member of our compensation consulting group, please write toconsulting@radford.com. Close the Future Skills Gap In addition, their survey consultants are superb and never fail to deliver top-quality service and products. On-demand Webinars, Rewards Plus, your team will be able to cut down on research time, have more energy to work on establishing consistent compensation programs, and won't have to scramble for data every time your business enters a new talent market or adds new types of jobs. Newsletter 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.