global Articles

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.
 

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.
 

Does Your Sales Incentive Plan Really Pay for Performance? Ask These Questions to Find Out.

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.
 

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.

Don’t Let Stale Survey Data Keep You from Being Competitive

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.

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.

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.

Debunking Common Compensation Myths

Following our annual webcast on technology sector trends, this article takes a deeper look at the five big compensation myths we discussed on the call. From gender pay equity to having to benchmark pay at the 75th percentile to stay competitive, we’re aiming to separate fact from fiction.

High-Performance Sales: Don't Start with Compensation

When launching or revamping a sales organization, leaders have a unique opportunity to consider the full set of factors that influence the creation of a high-performing sales team. Contrary to popular belief, compensation plan design should be the byproduct of these factors, not a crutch used to force behavior.

Revisiting 13th and 14th Month Bonus Rules in Latin America, Europe, Africa and Asia

Around the world, from Latin America to Europe to Africa to Asia, 13th and 14th month bonuses are a fairly common practice. Yet, the rules of the road vary widely from country to country, making compliance a challenge for HR teams. Our latest article examines current requirements and practices in more than 45 nations.

Hidden Strategy Killers: How Leaders Can Recognize, Avoid and Tackle Common Pitfalls

Almost every organization suffers from one or more hidden strategy killers. Unspoken ailments that stand in the way of innovation and execution. We explain how to identify common strategy traps, and discuss specific leadership, rewards and recognition and talent actions you can take to knock out strategy killers.

When It Comes to Sales Compensation, Three Key Issues Are Top of Mind for Sales Leaders

We recently met with Silicon Valley sales leaders to discuss the three biggest compensation challenges they face when trying to drive rapid, but sustainable growth. For most, it boils down to aligning plan design to stage of growth, creating strong job definitions to support effective benchmarking and quota management.

Is Your Sales Compensation Plan Paying for Performance? Take These 3 Steps to Find Out.

How do you know if the design of your sales compensation plan is generating good pay for performance outcomes? Our new article outlines three analysis-driven steps you can take to find out.

To Attract Candidates With Hot Skills, Should Tech Companies Create Specialized Job Titles?

Current demand for data scientists, agile programmers and engineers with cloud computing experience highlights a familiar challenge at technology companies: how to attract top candidates with hot skills and benchmark their pay? Our clients often ask us if they should pay a premium or create new job titles to accommodate in-demand skills. The solution often lies somewhere in between.

How to Approach Peer Groups below the C-Suite

Developing peer groups for non-executives and executives isn’t an apples to apples exercise. When looking at your broader employee population, market dynamics, such as industry convergence, telecommuting, and casting a wider geographic net to fill hot jobs, requires you to have a deep understanding of regional pay differences and practices.

ISS and Glass Lewis Issue Final 2017 Policy Updates

ISS and Glass Lewis have both released their final 2017 policy updates. Key changes include amendments to director pay and governance policies in the US, and pay-for-performance and director grant policies in Europe and Canada. Read our full analysis in our new client alert.

Scaling Your Sales Compensation Plan for High Growth Business Opportunities

As your business begins to scale rapidly, it can be a challenge to take your existing sales team and sales incentive plan along for the ride. In this article, we examine how sales roles and incentives evolve by stage of development, and we offer a 7-step process of approaching the redesign of your sales compensation plan.

ISS Releases Proposed Policy Updates; Excludes Changes to US Executive Pay Issues

ISS just released its proposed 2017 policy updates, and while it appears that ISS has punted on a number of executive compensation issues in the United States, the firm is proposing a number of compensation changes in Europe and Canada. Read our summary of the policy updates and submit your comments to ISS by November 10.

Not all Sales Plans are Created Equal. Effective Employee Communication Is.

In the September 2016 issue of WorldatWork's Sales Compensation Focus newsletter, Radford's Scott Barton discusses how to get buy-in from your sales team when rolling out a new sales compensation plan.

Results from ISS' Annual Policy Survey Show Support for Alternative Performance Metrics

ISS' 2016 Global Policy Survey asked questions on a range of issues, from executive and director pay to dual-class share structures for IPOs. In our new client alert, we examine all of the potential policy changes that could have the biggest impact on our clients in 2017 and beyond.

More Technology and Life Sciences Companies Are Turning to Market-Based Salary Structures

When thinking about the right approach for establishing employee salaries, many of our clients in the highly-competitive technology and life sciences sectors are embracing market-based salary structures. This method allows hiring managers to keep a pulse on the market while adhering to acceptable upper and lower limits set by the company.

Using Workforce Analytics to Solve Broader Business Challenges in the Life Sciences Sector

All biopharma companies face rising competition, an increasingly turbulent regulatory landscape, and the need to remain on the edge of innovation. Amidst the chaos, harnessing workforce analytics data has the potential to make HR and compensation leaders an indispensable partner in guiding long-term business strategy.

Hot Topics Excerpt: Life Sciences Companies Turn to Retention Bonuses to Reduce Turnover

In key life sciences markets around the world, the use of retention bonuses is up sharply from three years ago. With employee turnover on the rise and many companies reporting aggressive hiring plans, retaining high performers is a top priority for life sciences companies.

ISS Releases 2017 Policy Survey, Comments Due by August 30

ISS has opened up its annual policy survey for comments from the corporate community. The survey indicates ISS is considering several changes to its compensation voting policies across the globe. Issuers have until August 30 to submit comments.

 

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