Agile is more than a buzzword. According to new data from Aons 2019-2020 U.S. Salary Increase Survey, companies across industries are expected to award the largest bonuses, on average, in four decades. Media Relations Is It Time for Your Compensation Philosophy to Evolve? They make the survey participation process easy relative to other data providers and are always ready to assist us with one-off requests. Our survey spans: 870+. OVERVIEW The U.S. Bureau of Labor Statistics projects that by 2024 a quarter of the U.S. workforce will be over the age of 55, with one-third of that group aged 65 or older. Site Map | Survey Data Policy | Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell or Share My Personal Information | Cookie Preferences Newsletter We ensure that your pay programs are effective, competitive and aligned with your business goals yet are simple enough for employees to understand and HR to administer. To learn more about this survey, including available job families, the design of our survey questionnaire, reporting options and pricing details, connect with our survey sales team. U.S. Aon plc. Upcoming Events and Webinars Accelerate Your Workforce into the Future, | Do Not Sell or Share My Personal Information, Better aligns your business strategy with actual revenue goals, Drives top performance behavior for optimal results, Consolidated source of information for all broad-based variable pay plans, Competitive pay and detailed design information in a single report, Cash variable pay plans and special recognition plans, Data is reported for all broad based variable pay plans, Detailed information on effectiveness of plans, Special cuts and analysis available upon request. Aon plc. Talent Assessment Newsroom As of our most recent survey publication, our media and gaming sector coverage spans: 179 Participating Firms 410 Understanding where you stand in the market helps you ensure that employee compensation spend is optimized for your firm. You can also contact our team to learn more about your compensation survey results, and how to adjust existing pay practices to remain competitive and prepare for a successful year ahead. Start by leveraging the data youve received and the insights youve gathered from the market to make changes within your firm. Employees. The Commodities Survey spans: 110+ Commodities Firms 60+ Financial Services Firms 10+ Countries with Reported Results 12,000+ 70% of companies are providing additional scheduling flexibility to employees with children; 57% of companies are providing as-needed payments or equipment purchases to assist employees with work-from-home arrangements; 42% of companies are providing temporary increases in sick leave entitlements (e.g., special "pandemic leaves"); 38% of companies are allowing employees to use sick leave for COVID-19 related quarantines (in addition to what is required by law); and. #collapsible{ All rights reserved. CHICAGO (April 22, 2020) A new pulse survey from Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, shows how companies around the world, and specifically in North America, are accelerating changes to their total rewards programs and workforce strategies in response to the deepening humanitarian and economic impacts of the COVID-19 pandemic. Some client needs can be met with standard benchmark surveys, but oftentimes organizations need the added assurance that is provided through a custom salary survey. Need results now? Michael Stevens - Director HRIS Standard Motor Products Rewards Insights cursor: pointer; McLagan Data & Analytics Cookies help to enrich your experience. Survey Pricing, Access, and Support. Executive Compensation Energy and Renewables I would recommend Radford without hesitation. It combines the best of both worldsa skill and leveling approach to measuring pay for in-demand IT skill sets. Purchase Now Why Participate? However, their jobs and expectations are changing. To learn more about our full database, spanning 20+ million employees at 6,350+ companies, explore the map below: Were focused on supporting innovation-based companies operating in highly competitive markets for talent. Performance & Analytics, Contact Us While companies continue to explore ways to manage or reduce total rewards costs through changes to health and benefits plans and retirement programs, few firms have executed cost-saving measures in these areas. Reports Newsletter McLagan and other Aon group companies will use your personal information to contact you from time to time about other products, services and events . Media Contacts Here's how we plan to make that happen for you: The rest of the world is catching up to what HR already knowsdata is currency. The Rewards Solutions practice at Aon and other Aon group companies will use your personal information to contact you from time to time about other products, services and events that we feel may be of interest to you. All in all, its a one-stop shop for all of our compensation data needs. OVERVIEW After years of promise, more and more businesses are realizing the benefits of artificial intelligence (AI) and machine learning. Fields marked with an asterisk (*) are required. *, Business Phone To learn more about our coverage of the energy sector and how our survey platform works, click the links below: The Radford Global Compensation Database provides compensation, human resources and total rewards professionals with access to incredible insights spanning a wealth of companies, employees and countries on a unified survey platform. Intern, New Graduate and Pay Administration Study Radford Data & Analytics Rethink Location Strategy, Articles Armed with these communication tips, you can support a culture of pay transparency and improve employees understanding of pay decisions. Compensation Data Elements. Cookie Notice. Radford is the world-class source for high-tech market data and on-the-spot market intelligence to understand critical pay trends. 33 Primary Industries 39 Sub- Industries 130+ Countries with Reported Results Purchase the 2019-2020 Salary Increase Survey Today See how more than 2,100 firms in dozens of industries approach pay planning in 132 countries. People matterthey remain the heart and soul of your company. If you decline the use of cookies Please note, by opting out you will no longer receive direct marketing from Aon, including information on: Claims, Contract Wording and Client Services, Health and Benefits Brokerage and Consulting, Strategic alignment: Total compensation strategy, Competitive market benchmarking and analytics, Compensation program review and evaluation, Variable pay design?? The Global Salary Increase Survey is the ultimate resource for HR professionals, CFOs and CEOs making decisions on reward strategy, overall and merit salary increases, variable pay and other hot topics affecting compensation. Why Clients Come to Us. From associate to C-level positions, the Radford Global Life Sciences Survey is the gold standard for providing the most comprehensive and complete source of compensation data in the industry. This trend mirrors Europe, where the same figure grew from 17% to 35% over the same period. The convergence of financial services and technology has caused top performing firms to put workforce strat By knowing what data to leverage and who owns it, HR Leaders are empowered to meet business leaders as strategic partners in conversations armed with data-backed insights. For life insurance companies looking to assess their employee pay levels and manage their overall compensation spending, we offer two compensation surveys for sales & marketing and management & administration designed to gauge the competitive U.S. market for most roles in the industry. Our Broad-Based Compensation consulting services offer: Our consulting solutions are backed by a wealth of diagnostic tools to support data-driven decision making in an evolving marketplace, including: To learn more about Aon's Broad-Based Compensation consulting services and how your company can benefit, contact your local Aon consultant or e-mail [emailprotected]. It covers: The survey reports on: Overall, general and merit salary increase budgets Mandatory merit increases granted Severance and Change-in-Control Study, BENEFITS INSIGHTS The supplemental report is available here. Executive compensation programs need to be designed to be competitive, compelling, aligned with business performance and directly linked to shareholder value. Insurance carriers of all kindsincluding property and casualty, life, brokerage, P&C reinsurance and specialty insurance firmsrely on the McLagan survey platform to meet their compensation benchmarking needs. Whether you're looking for a demo of our compensation survey platforms or expertise advice on designing the future of rewards, let us know how best to reach you. All rights reserved | Email Preferences | Legal | Privacy Statement | Cookie Notice | Do Not Sell My Data (US ONLY)| Cookie Preferences, Understanding the 3 Types of HR Data to Leverage in Workforce Planning, 3 Biggest Risks Impacting Human Capital: Why HR Leaders Must Seize the Opportunity to Act Now, Embracing the Power of Agility: Moving From a Business Process to a Human Capital Solution, The Future Of Business: How Artificial Intelligence Can Drive Organizational Change, Video: 3 Biggest Challenges Facing HR Professionals Today, How Design Thinking is Transforming the Future of Employee Assessment, Reimagining Rewards: How to Compete for Today's In-Demand Digital Talent - and Win, With Salaries and Bonuses Projected to Increase, U.S. Employees Can Expect a Pay Hike in 2020, First Look at Chief Human Resources Officer Compensation Trends in 2019, Our Clicks Are Changing Our Bricks: How Tech Is Reshaping Our Lives, Case Study: How Aon Drives the Search for Top Tech Talent, Refining Rewards for the Millennial Generation, Using Job Architecture to Enable Digital Transformation, When Demographics Shift: Managing The Dynamics Of An Aging Workforce, 2019 Pay Trends: First Look at CEO Compensation, Participate in the 2019-2020 Salary Increase Survey to Keep Your Compensation Strategy Competitive, The Power in Your People: Why Data and Empathy are Both Needed to Drive the Digital Future of Work, 5 Tips to Effectively Communicate Merit Pay Decisions, Staying Ahead of the Curve: Tech Convergence in Financial Services Q&A, Getting Started with Your Compensation Survey Results. There is a reason why most businesses today use variable pay as the main tool to pay for performance. This allows you to get an early take on your firms reward positioning relative to the market. Survey purchases include 24/7 access to the McLagan Online client portal. If you don't want cookies on your device, you can The One Brief is Aon's weekly guide to the most important issues affecting business, the economy and people's lives in the world today. The Radford Global Compensation Database provides compensation, human resources and total rewards professionals with access to incredible insights spanning a wealth of companies, employees and countries on a unified survey platform. The survey gives a detailed overview of: Overall, general and merit salary increase budgets Radford is far-and-away the most comprehensive technology-focused survey in the market! Join Our Mailing List. document.getElementById('year').appendChild(document.createTextNode(new Date().getFullYear())); Aon group companies will use your personal information to contact you from time to time about other products, services and events that we feel may be of interest to you. Describing what just happened doesnt cut it. on the website. Compensation market data is critical to awarding your talent appropriately and the success of your business. Close the Future Skills Gap To ensure a comprehensive understanding and context of the compensation market, be sure to attend one of our client conferences this fall. Privacy Statement and For example, 56% of surveyed retailers in North America report furloughing employees, followed by 30% of manufacturers, and in stark contrast, only 5% of technology firms have furloughed employees. Performance & Analytics, Contact Us The McLagan Financial Technology Survey provides HR and compensation professionals with the most comprehensive rewards insights on employees across major functional and business line areas within the industry. Unprecedented economic changes are impacting how companies approach compensation and talent management this year. Aon can assist you as much or as little as you would like in your remuneration benchmarking exercise, drawing from our experience, and wealth of market data. Aon conducted the survey, Adjusting Total Rewards Programs and Workforce Strategies in Response to COVID-19, between April 7-10, 2020 and a total of 1,889 organizations around the world responded, with 1,469 responses applicable to the North America region. These figures vary significantly by industry. This article outlines four key steps that will help you effectively assess your competitive standing in the market and drive decisions as you review your compensation results. The Radford Global Compensation Database is designed to help decision-makers set pay with confidence across numerous rewards elements. *, Job Title A big picture view, in addition to the detailed job data, will enable you to successfully adjust your salary spend, bonus pool, or long-term incentive program to position appropriately against the market. Country Profile Reports Financial Technology We provide a variety of rewards and compensation advisory solutions to assist clients with their compensation, performance, and talent strategies. The primary reason we use Radford as our survey provider is the combination of their data accuracy and alignment with our talent compensation expectations. More than 260 energy and renewables companies including battery, clean technology, engineering, mining, oil and gas, power, and renewables firms rely on the Radford Global Compensation Database to meet their benchmarking needs. All rights reserved. Thousands of companies around the world rely on Aon's family of market-leading compensation surveys, including Radford, TCM and McLagan. Password. Our comprehensive job library spans every business function and includes an extensive collection of jobssomething we call a job modulefocused specifically on the energy and renewables sector. Newsroom Participating Firms. On-demand Webinars, Rewards For example, in North America, only 5% of companies have suspended employer matches, profit sharing, or other non-elective employer contributions for defined contribution retirement plans. Accelerate Your Workforce into the Future, | Do Not Sell or Share My Personal Information, Designed to collect benchmark information on pay and related items that are not available from existing sources, Ranges from one specific pay practice issue to total compensation studies, Provides an effective benchmarking tool to support a wide range of business needs (e.g., recruiting practices, career development, retention strategies, variable pay design), Tailored to meet the unique needs of sponsors, Sponsor can focus the survey on participants sharing a particular industry, size, geographic area, or financial performance, Sponsor defines which benchmark positions to include in the survey, Allows for pay comparisons for positions not available in published surveys; provides more exact matches, since participants match to sponsor's actual positions (rather than generic positions), and participants receive position-matching assistance, Types of incentive or variable compensation plans, HR programs, such as attraction and retention policies for scarce skills, Typically begins with a feasibility study to ensure full interest of potential participants, Excel questionnaire emailed to survey participants, When questionnaire is returned, consultant email/phone follow-ups clarify, correct, or further complete the survey information, Survey sponsor, in consultation with Aon, selects survey participants, Aon complies with all anti-trust guidelines, Protection of confidentiality extends not only to compensation data, but also to any kind of observation, scoping factor, or analysis that could identify a participant with its data to an experienced person in the field, Timing can vary, depending upon the complexity of the survey request, Sponsor receives customized report with comparison of their data to market results, Participants receive a complimentary report of the results. Our world is changing fast, and your partners need to evolve along with it. The team at Aon is extremely helpful. Employee Rewards HR leaders are perfectly positioned to help their organizations mitigate and manage many of the risks their companies are facing today. Disclaimer: This document has been provided as an informational resource for Aon clients and business partners. All personal information is collected and used in accordance with our privacy statement. We use existing documentation, such as job titles, job descriptions, job postings and organization . Employee Experience Study For further information please contact the Aon media team: Claims, Contract Wording and Client Services, Health and Benefits Brokerage and Consulting.
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