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With a shortage of workers possessing very specialized clinical and business infrastructure skills, life sciences companies often struggle to attract and retain this evasive talent. But when someone possessing these rare “hot skills” is found, companies often find themselves paying a large base salary premium to acquire them. Here, we go over the top five skills that fit in this category.
Published: April 2018 Read Article ›
In today’s super-charged job market, technology companies are engaged in a frantic battle to attract and retain people who possess game-changing skills. And while a large number of companies still don’t believe in paying special premiums for these “hot skills”, among those that do, the five hot skills listed in this article currently command the largest base salary premiums.
One of the earliest decisions when bringing in a new CEO, whether it’s an internal promotion or an external hire, is what the initial pay program should be. There are several factors that the board of directors should take into consideration, but using external benchmarks to create a competitive pay package (without overpaying) is a good starting point.
Using Aon’s Corporate and Governance Pro’s (CG Pro) new CEO Pay Ratio report, we took a look at what’s being reported at a select sample of 531 companies, which span several industries.
With so much of a salesperson’s compensation delivered through variable, performance-based pay, sales leaders need to continually monitor pay-for-performance mechanisms to ensure they remain fair, motivating and in-tune with business needs. However, we often rely too heavily on data-driven assessments to measure plan performance. Sometimes asking the right qualitative questions to the right people can make a huge difference.
Technological advances, coupled with new pay equity laws, give employees access to compensation information they never had before. In the emerging era of pay transparency, there are four steps companies must take to both address inequities and engage employees in creating a shared understanding of fair pay.
There are a lot of variables that go into a good sales compensation plan. Aligning the plan with your corporate sales goals and the desired behavior required of the sales role is the key.
Following your annual merit cycle, we recommend putting your rewards programs through four diagnostic tests to determine how well your pay-for-performance systems are working. Our latest article outlines these tests and the important questions every rewards professional should ask themselves after the conclusion of merit season.
Although it is more than 10 years old, Radford’s global job leveling system remains as relevant today as when it was first introduced. 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.
Published: March 2018 Read Article ›
For today's multinational organization, securing top talent on a worldwide basis is a key driver for success and having the right pay programs and incentives in place globally has become increasingly challenging. We will explore how best to design pay for global executives.
The first proxies to include CEO Pay Ratio disclosures are now being released. Using Aon's CEO Pay Ratio report we evaluated the initial data in order to provide you with initial insights.
For decades, China focused on rapid economic growth. Now, the emphasis is on grooming quality talent and companies. To successfully navigate this transformation, HR and rewards managers should pay attention to four big developments.
Starting in the 2019 proxy season, board of director pay will be monitored by Institutional Shareholder Services (ISS), which makes a thorough outside director pay review even more critical.
With so many different types of compensation survey providers in the market— including a growing list of online, crowdsourced data sources— how do you know which ones are right for you? Our article outlines the pros and cons of different survey types and how to use survey data to its full potential.
While a majority of life sciences companies have change-in-control and not-for-cause severance policies, the prevalence of plans fell from 2014 to 2017, a surprising result in our latest special survey. Meanwhile, diversity in plan design increased, giving business leaders plenty of new ideas to consider.
Our new survey of severance and CIC practices at US technology companies reveals an increase in companies with polices, but there is still wide variation in how plans are designed.
People issues— from culture to total rewards— can be one of the biggest reasons mergers and acquisitions fail. This is particularly true in the technology sector where the value of a deal is often found in the employees as much, or more so, than a product or service. Our article provides tips and data to empower HR leaders to ensure lasting success following a deal.
Looking back on the blog posts from 2017 that have resonated best with readers, we see one common denominator. The most interesting stories are the ones with practical advice on how to make the compensation data actionable. Here are five topics that seemed to play well throughout 2017 where the insights provided useable information.
To help you strike a better balance and get the most out of your compensation spend, we’ve put together these 5 tips to communicating salary review decisions.
Published: February 2018 Read Article ›
While companies are right to take a wait-and-see approach as Brazilian courts iron out key grey areas in the country’s new labor laws, taking time now to plan for change is prudent. After all, the new laws are widely expected to give companies more flexibility in their hiring and remuneration policies going forward.
According to new research from Radford, high-performing US technology companies share many of the same talent and rewards practices. In the November issue of WorldatWork’s Workspan magazine, our team shared insights on key traits companies of all sizes and with all manner of compensation budgets can learn from.
After meeting with HR leaders across the US life sciences sector, three big compensation benchmarking questions emerged as themes. When should we use specific vs. generic scientific jobs? When should we pay premiums for advanced degrees? And how much do geographic differentials matter these days? Our latest article explores each of these questions in data-driven detail.
Successful technology firms in Europe and the United States share many of the same rewards practices, which are distinct from the broader market. In this article, we identify those practices, explain how they drive better results and offer key takeaways that can be adapted for any compensation budget.
Published: January 2018 Read Article ›
Based on the amount of activity and interest we see from clients and prospects, there seems to be a hunger for wanting to know more about the rationale and benefits for having a global job leveling framework. Here are four of the top reasons we see.
In today's highly competitive market for talent, shorter equity vesting schedules can be a strategic advantage. However, making a change should not be taken lightly. Our new article explores the pros and cons of longer vs. shorter vesting periods.
Having a competitive severance plan can help you maintain an engaged and productive workforce as you move through whatever transition your organization faces.
Scrambling for compensation data every time you hire a new employee won’t help your business scale. The sooner your HR team is allowed to invest in a reliable compensation survey, the sooner it can create the people programs and strategies truly needed to drive growth.
Companies are asking now about what immediate impact the tax reform will have on their 2018 salary budgets.
In most cases, you can't begin to fix a problem until you understand why it exists in the first place. This is certainly true for the complex challenge of addressing gender pay equity. In our new paper, we explain the most significant drivers of both real and perceived gender pay gaps.
In addition to changes in corporate and personal income tax levels, the revised US tax code is likely to influence the design of incentive compensation for executives and employees in the years ahead. Our client alert focuses on the provisions of the bill most likely to influence plan design and provides recommendations on actions companies should consider taking now.