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Compensation Audits
Reward benchmarking is the key process with respect to the containment of cost. It also enables the company to benchmark reward levels against
alternative employers to ensure that they are offering competitive remuneration to those that need it.
Our research and experience highlights the following issues / trends:
- There is a shift from internally driven pay and grading structures to a greater focus on the external market.
- There is a trend to design pay structures around job families rather than to incorporate these differing roles within wide grades.
- There is pressure on key skills. 'one size fits all' pay policies / strategies are under pressure and we are seeing greater use of market
premiums / different pay policies for certain skills groups.
- In response to globalisation there is growing pressure to develop Regional and Global pay strategies and structures. There are significant
tensions within such arrangements.
- With the increasing cost of benefits there is a growing need to benchmark total remuneration costs.
We work with clients to bring the information contained in our survey database to life, using a variety of innovative approaches to present market data to managers and other stakeholders in the most useful and user-friendly format.
We use a common methodology ( Watson Wyatt Global Grading System ) to size positions across each job family, therefore ensuring that like
for like comparisons are achievable both for internal comparisons within the company and external comparisons with the outside market.
Client companies are also able to select and request special cuts from the database in order that more focussed comparisons are available.
Additionally we are able to conduct specialist research in the form of bespoke surveys where our information requirements are outside of our current
database capabilities. This may be from a job type, region, sector, or combination perspective.
Our databases contain compensation and benefits data from 66 countries. We have extensive coverage in Asia Pacific, Europe, the Middle East, Africa and the Americas.
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