employee rewards Articles

Understanding the Impact of Performance Ratings in Differentiating Pay

With an increased focus both internally and externally on pay for performance, we examine how companies with different performance ratings systems are optimizing their merit budget.

How Biotech Companies are Scaling their Workforces for High Growth

Companies experiencing high growth need to engage in smart workforce planning and examine their compensation philosophy, culture and employee experience to stay competitive. We highlight important ways emerging growth biotech companies are taking these steps.
 

A Checklist for Fall Compensation Planning

At most companies, Fall is the start of compensation planning season. To help you prepare, Radford has developed a quick checklist for keeping your pay programs up to date.
 

Robust UK Life Sciences Sector Prompts Efforts to Curb High Employee Turnover

The outlook for the UK life sciences sector is optimistic with aggressive hiring and employee turnover on the rise. This is causing firms to reinforce their efforts to retain top performers. We explain the talent and rewards strategies companies should think about.
 

Technical Jobs Continue to Command Hefty Pay Premiums; Here’s How Companies Can Prepare

Base salary premiums for technical vs. non-technical jobs, for both professional individual contributor and management roles, continue to climb at technology companies across the United States. However, the rate of change is uneven, which means companies must pay close attention to the market. Our article highlights where the market is moving fastest and what companies can do about it.
 

Is It Time for Your Compensation Philosophy to Evolve? We Think So.

As issues like gender pay equity and pay transparency grow in prominence, a number of companies are beginning to rethink how they describe their approach to setting pay. In our view, these new forces will eventually compel companies to rethink and rewrite their compensation philosophies. 

Why Some Technology Companies in Asia are Breaking Up Their Salary Broadbands

Creating broad salary bands is a common practice throughout much of Asia, but a growing number of technology firms are now developing narrower, more aggressive salary ranges to keep pace with the market for in-demand jobs. We explain when you should think about breaking up your salary bands, how to develop narrower ranges and questions you should ask your compensation and HR teams in the process.

To Compete for Talent, European Life Sciences Firms Burn More Equity Once Listed in the US

Life sciences companies headquartered in Europe have long used less equity compensation than their US peers. However, as more European companies list on US stock exchanges, and at earlier stages in their development cycles, a middle ground is emerging. In this article, we explore how US-listed European biopharma companies may encourage increased overhang and burn rates in Europe.
 

Tech Convergence in Financial Services Industry: Your Questions Answered

The convergence of financial services and technology has caused firms to put the transformation of their workforce at the center of their strategy. Companies are focused on exploring new ways of working, redesigning their organizational structures, evaluating their entire employee value proposition to improve engagement, and making strategic investments in new skills and technology to support this transformation. In order to compete with tech firms and with the growing popularity of the Silicon Valley approach to attracting and retaining key employees, financial firms must acknowledge that the broader ecosystem of rewarding digital talent is changing and transform their value proposition with it.

Five Ways to Get More from Your Merit Budget

During annual performance cycles, compensation professionals spend a lot of time thinking about the size of the merit pool and who gets how much of an increase. However, less time is spent on the factors that go into how the pool is delivered. We delve into five strategies you can use to get more from your merit budget.
 

Demystifying Pay in India: How to Structure Compensation for Local Practices

Compensation planning in India requires extensive knowledge of local market practices given the many unique rewards terms and structures found in the country. Following the tips we provide in this article will help you set out on a path toward developing well-understood, tax efficient, legally compliant and competitive pay packages in India.

Fewer Technology Firms, Especially in the United States, Report Using Retention Bonuses

Our latest quarterly trends survey shows the use of retention bonuses in key global technology markets has fallen in the past two years. Our article explores the reasons behind this trend.

Life Sciences Companies Increasingly Turn to Retention Bonuses as a Key Rewards Strategy

Our latest quarterly trends survey shows the use of retention bonuses in key global life sciences markets continues to rise over the past five years. Our article explores the reasons behind this trend.
 

Technology Sector Wage Growth in London Continues to Far Outpace the Rest of the UK

In spite of Brexit, the London pay premium for technology sector talent continues to accelerate, which is why our latest data from the UK underscores the need to constantly examine and reevaluate regional pay differences.
 

Today's Top-5 "Hot Skills" at Technology Companies

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.

Today's Top-5 "Hot Skills" at Life Sciences Companies

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. 

The Era of Pay Transparency is Here. Is Your Organization Prepared?

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.

Merit Season is Over; Here are Four Ways to Measure How Well it Went

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.

As Market Realities Change, Radford’s Global Job Leveling Model Rises to the Challenge

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.

What Every Rewards Professional Should Know About China’s Changing Workforce

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.

Five Trends in Severance and Change-in-Control Practices at US Life Sciences Firms

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.

Six Trends in Severance and Change-in-Control Practices at US Technology Companies

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.

Four Ways Technology Companies Can Create a Winning People Strategy During M&A

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.

Brazil’s New Labor Law Grants Employers More Flexibility in Their Hiring and Pay Programs

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.

A Well-Oiled Machine: What High-Performing Companies Are Doing That You’re Not

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.

Three Big Questions to Ask Yourself When Benchmarking Pay at Life Sciences Companies

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.

Learning From Rewards Practices at High-Performing European Technology Companies

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.

In The Race for Top Talent, Equity Vesting Schedules May be the Next Battleground

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.

The Top-5 Reasons Your Business Needs a Compensation Survey (Now)

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.

To Truly Address Gender Pay Gaps, Companies Must Dig Below the Surface

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.

 

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