Resources: Introducing Radford's New Market Practice Studies
February 17, 2020
Years of working with thousands of innovative technology and life sciences firms have given us unparalleled insight into what our clients care about most when it comes to attracting, retaining and motivating talent. As a result, we're excited to announce that starting in 2020, we're unveiling a revamped suite of our plan design practices studies to address your most pressing questions and concerns. The suite comprises five landmark studies, which are outlined in detail below. Each study will be conducted online with standard results provided to companies submitting complete data at no additional cost. The full Market Practice Studies suite will include:
- Salary Increase and Turnover Study: Taking pay increase and labor market data from both the Radford Trends Report and the Aon’s Salary Increase Survey, this study combines the best of both worlds and is bigger and better than ever before. Conducted twice a year, it will provide participants with extensive country-specific coverage of salary increase budgets for the technology and life sciences sectors as well as a variety of other industries, many of which have been influenced by technology disruption themselves. Additional topics include: turnover, hiring plans, performance management, pay-for-performance effectiveness, promotion practices and more. To learn more and participate, click here.
- Data collection materials available — 1st Edition: Early January; 2nd Edition: Early June
- Submission deadline — 1st Edition: Late February; 2nd Edition: Mid-July
- Results published — 1st Edition: Late April; 2nd Edition: Late September
- Short- and Long-Term Incentive Design Study: Designed to be the perfect companion piece to compensation surveys, this study will cover both short-term and long-term incentive topics for plans offered around the world, including eligibility, recipients and plan design criteria for cash incentive plans. Other topics include: formal bonuses, profit sharing, discretionary and sales plans, cash LTI as well as equity plans such as stock options, restricted stock, employee stock purchase plans and more. It will be published twice a year with a regularly updated database available for use when ordering a Custom/Peer Report.
- Data input due with comp data — February 15, 2020 – February 15, 2021
- Publication cycle — Monthly refresh tied to compensation updates
- Results published — 1st Edition: July; 2nd Edition: January
- Intern, New Graduate and Pay Administration Study: Whether recruiting new graduates, particularly those out of high-demand programs, or trying to fill jobs requiring key skills, this study is especially resourceful in today’s competitive job market where candidates have options. The Intern, New Graduate and Pay Administration Study is an annual study that covers new hire pay guidelines for new college graduates with a Bachelor’s, Master’s or doctorate degree, as well as internship candidates at different levels on their education journey. This study will also help set the tone when creating offers for experienced hires with tools such as salary ranges, market-based pay, geo pay plans, fixed overtime, sign-on bonuses, on-call pay and shift differentials.
- Data collection materials available — January 2021
- Submission deadline — TBD
- Results published — TBD
- Allowances and Paid Leave Study: Base salaries and incentives matter when designing effective pay programs — but it’s only the beginning. As companies expand their global reach, it becomes critical to understand leave and allowances policies around the world. Whether you need to hire locally or relocate an employee to another country, this study will provide you with fresh insights on allowances topics such as car/auto, house, meal and other globally prevalent allowances; and leave topics such as maternity/paternity leave, annual leave, vacation/sick days, holidays, sabbaticals and other paid leave. This study also covers company car policy and executive perquisites.
- Data collection materials available — February 15
- Submission deadline — May 30
- Results published — Late August
- Employee Experience Study: Employee engagement, enthusiasm and productivity have become modern currency in workplaces everywhere. To attract and retain key talent in an increasingly competitive environment, companies must think outside the box to offer unique value and become employers of choice. This study covers a spectrum of topics that make a firm unique, including: recognition, training/learning, wellness, flexibility, mobility, matching gifts, food and snacks, work environment, green policies and pet policies. Change in control policies and severance benefits are also covered in this study.
- Data collection materials available — June 1 (severance and change in control questionnaire)
- Submission deadline — September 4 (severance and change in control questionnaire)
- Results published — November 16 (severance and change in control questionnaire)
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