life sciences Articles

Equal Pay Laws Shine Light on Difficulty of Defining “Equal”

The principles around gender pay equity sound basic: men and women should receive the same amount of pay for equal or similar work. However, when examining the California Fair Pay Act— one of many pieces of equal pay legislation that has swept the globe— it turns out that the implementation of this idea is anything but simple.

Fewer Sales Organizations are Offering Car Allowance Plans Across the Globe

Even while declining in popularity, car allowance plans for sales employees are still a majority practice in many markets. We examine the latest trends in plan prevalence and eligibility using Radford Global Sales Survey data and offer tips for technology and life sciences companies reconsidering their car policies. 

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.
 

When Your Sales Mobility Program Is Stuck in a Compensation Rut

Internal sales mobility moves are on the rise, driven by factors such as career development. However, these situations can be complicated from a compensation standpoint. We provide tips for companies encountering these situations, including whether to adopt a formal mobility program.
 

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.
 

How Health and Wellness Policies Affect Employee Performance: A Case Study

Our recent work with a pharmaceutical client to quantify the impact of their health and wellness programs on performance is an example of the valuable insights people analytics can uncover. We explain our process and key takeaways in this new case study.
 

ISS Policy Survey Hints at Changes to Pay-For-Performance, Director Pay and More

From gender diversity on boards to quantitative pay-for-performance screens and “excessive” director pay, ISS is considering 10 potential policy changes for 2019. We explain what each policy up for consideration entails and how likely it is to be changed.  
 

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. 

Lessons from the 2018 Proxy Season for Say-on-Pay and Equity Plan Votes

The 2018 proxy season saw a drop in proxy advisor and shareholder support for Say-on-Pay and an increase in non-proxy advisor compliant equity share plans. We explain the factors behind proxy season trends and what those involved in executive compensation can do to prepare in the off season.

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.
 

SEC Expands Scope of Companies that Qualify for Reduced Compensation Disclosure

The SEC recently amended its definition of smaller reporting companies (SRCs), which could pave the way for nearly a thousand additional companies to take advantage of reduced compensation disclosure requirements. However, it may not be wise for every qualified company to scale back their disclosures, particularly if they have active investors who have expressed concerns via Say-on-Pay votes in the past.

Executive Compensation Summer Checklist: Take Steps Now to Prepare for Your Year-End

Are you looking for some ways to reduce the stress of your next executive compensation planning cycle? Follow our summertime executive compensation checklist to discover three important tasks you can take care of now to make your Q3 and Q4 far less hectic.

CEO Pay Ratios Are In. Here’s What We’ve Learned So Far.

The first year of CEO pay ratio disclosures are in for most public companies. Our latest article includes several key findings for the technology and life sciences sectors that will be helpful as companies think about how this new data could be used by stakeholders in the future.
 

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.

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.
 

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. 

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.

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.

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.

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.

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.

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.

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.

The Newly Revised US Tax Code Will Influence Executive and Employee Pay, but How Much?

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.

 

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