We work with human resources leaders to build the innovative rewards programs they need to compete for game-changing talent. From benchmarking total rewards to building career frameworks to managing rapid workforce growth, our experienced team has your people and business needs covered.
"High-growth is great, but our compensation plans are about to break."
Growth is great, but it always comes with consequences. Before long, your business is going to outgrow its existing human resources, compensation and career structures. How do you plan to address these coming changes? Whether your company is launching a new product, entering new markets, or adding headcount at a furious pace, our consultants have the experience to help you navigate change and plan for growth. We partner with clients to:
- Define Compensation Philosophies – Take time to ensure your overall approach to building compensation programs and setting pay fits with the needs of your organization and aligns with your business strategy.
- Build Salary Structures – Work with our team to consider the many pluses and minuses of market-based, level-based, and broad-banded salary structures, and then pick and implement the right long-term model for your business.
- Re-balance Pay Mixes – Leverage Radford's extensive data sets to anticipate how your incentive plans and equity programs should evolve as your company matures, and then implement changes accordingly.
- Conduct a 360° Re-calibration – Review all of your people and pay programs to see how well they match the current conditions your business faces, including labor market shortages, competitive challenges, and employee retention concerns.
"It's time to rebalance and reinvigorate our total rewards portfolio."
Technology and life sciences companies all share a common trait: change is certain and frequent. From disruptive competitors to shifting workforce demographics, putting the pieces of the total rewards puzzle together is a complex operation. How do you intend to build a rewards strategy for all of your employees with so many factors at play? That's where we come in. Our experts know how to create rewards packages that align with your company's goals and satisfy the diverse needs of your employees. We partner with clients to:
- Benchmark Total Rewards – Know the impact of potential shifts in various components of the total rewards portfolio and calibrate pay and benefits that fit your company.
- Optimize Total Rewards – Identify the rewards packages that best align with your company's goals and employee preferences so that your total rewards work for you.
- Customize Rewards Portfolios – Employee voices ought to play a larger role in rewards innovation. Far too often, clients are surprised to find that they need to do a better job reflecting employee preferences. Our conjoint analyses and survey instruments enable clients to customize total rewards packages based on real, on-the-ground insights.
- Keep Your Competitive Edge – Review your total rewards portfolio to ensure your pay mix is sustainable and gives you a leg up on the competition in every market where you compete.
"Our employees need to know where they're going and how to get there."
Employees, especially top performers, want a roadmap for where their career is going and how they're going to get there— and it's not always about climbing straight up the ladder. Do your employees have a clear understanding of their career options within your company, and do they know what it takes to get there? Managing their development is as critical as ever. Let us help you:
- Develop Clear Career Paths – Provide clarity on career opportunities by developing consistent promotional practices to support successful development and professional progress.
- Build a Sound Job Architecture – Review your jobs to successfully standardize leveling criteria across functions, align career levels with the competitive market and provide a scalable model that accommodates future growth.
- Create Competency Models – Build the essential framework for defining the skill and knowledge requirements for all of those positions, effectively defining what it takes for successful job performance.
- Align Your Career Levels – Get a pulse on how your jobs are organized compared to the market and ensure alignment by benchmarking to the peer group that's right for you.
"Our new HRIS has shined a big spotlight on our messy job architecture."
Redesigning job architectures isn't something most companies think about until there's a crisis, and usually, that crisis hits when it's time to implement a new HRIS platform. Often, they realize they have major inconsistencies in their job leveling, job titles and job structures. Does this sound familiar? Are you in need of some serious housekeeping? Whether you'd like assistance with a full-scale job leveling audit or some help organizing the vast web of jobs in your organization, we'll help you create job architectures that keep your entire business on an even keel.
- Audit Your Job Levels – When you're ready to implement a new HRIS system, we'll work with you to review all of your job levels and create a consistent, unified approach to defining those levels, job codes and titling conventions across the company.
- Create a Database – Make a master catalogue of job codes and job descriptions that is easily transferrable to the go-forward HRIS system.
Mergers & Acquisitions Integration
"One plus one isn't two. We need to get better at integrating our people."
Every M&A deal creates a flurry of activity for human resources and compensation teams. At the top of the list is the immense task of harmonizing two distinct people and rewards systems. Once the heavy lifting of integration begins, we'll work with you to ensure a successful transaction and positive people outcomes.
- Assess Your Competitive Market – Take time to set a solid compensation foundation by gauging base salaries, target total cash and total direct compensation, and review both companies' annual incentive plans relative to market-leading practices and the newly merged company strategy.
- Create Consistency – Joining two different organizations requires a consistent approach to defining job levels, job codes and titling conventions across the company.
- Implement Equity Guidelines – Develop and implement equity grant guidelines that allow you to remain competitive in the years following the transaction.
- Facilitate Change Management – Change doesn't just happen; it needs to be managed closely and effectively for a smooth transition. We help with key stakeholder communications and training and implementation materials for new programs to ensure employees and managers understand and buy-in to a change in programs.
Education & Change Management
"Our approach has to evolve, and we need help driving change."
Change is inevitable in the technology and life sciences sectors, so managing change will be key to your company's success. No matter the stage or size of your organization, we want to help you build for the future. We have the communications expertise, industry data and analytical tools to help you see where your organization is headed and to navigate change smoothly.
- Get Educated – Everyone needs a little compensation 101 from time to time, and Radford provides the education and guidance to ensure successful compensation planning and seamless organizational shifts.
- Design, Implement, Communicate – Pay structures should grow with your organization; even if your approach evolves, we'll help you design and implement sound and sustainable compensation programs.
Refining Your Approach to Market Data
"We're not sure we're looking at the right things in the right markets."
There's a reason why thousands of technology and life sciences companies trust Radford with their global rewards decisions. With our robust survey data you can benchmark thousands of jobs around the world, build highly targeted peer groups, and perform rapid-fire analyses. However, knowing where to start and how to think about assessing global talent pools isn't always easy. Our consultants can assist you with data questions and guide you on how best to use market information.
- Define Your Market – Determine market comparator groups, considering location, industry and talent markets, then compare survey data to your existing compensation levels to create salary ranges.
- Match Your Jobs, Your Way – Our consultants will scope out your jobs and help your HR team choose their best fit matches in the Radford Survey.
"We have a lot on our plate, and we just need an extra set of hands."
Do you face resource constraints, time constraints and a "patchwork" of compensation plans? We know your to-do list is long, but important compensation projects shouldn't get bumped to the back burner for lack of time and staffing. If you need an extra boost, we're here to help.
- Fine Tune Your Compensation Program – Salary structures, merit planning, ensuring equity in pay decisions—whether you need us to do it all or just need a helping hand on a tight deadline, we can help.
- Audit Your Jobs on the Fly – Create a master catalogue of job codes and job descriptions that is easily transferrable to the go-forward HRIS system, then let us help you implement the changes.
- Get Guidance on the Spot – Let Radford experts answer your pay and people-related questions and offer valuable insights to guide you toward the decision that's right.