Insights from market research help business leaders shape product and communication strategies by instilling fact-based, decision making processes instead of relying solely on intuition. We work with our clients to understand market trends of how competitors structure their total rewards packages so they can set competitive compensation strategies.
Not Just About Pay
Our clients regularly face a variety of challenges, beyond setting pay levels, in terms of setting overall pay rates, determining salary structures, performing risk assessments on incentive plans, modifying or creating deferral plans, and ensuring that compensation is appropriately linked to performance. Beyond compensation surveys, we offer a broad range of Market Practice Studies throughout the year for clients. These studies provide clients with an objective perspective on how their firms compare on rewards and performance management practices within financial services, as well as their specific financial services sector.
Customized Market Context
We gather and analyze market data, based on custom designed peer groups, covering both individual pay components and total compensation competitiveness, to provide context to our clients' total rewards strategies. Our global presence allows us to uncover country-specific, regional, and global trends that gives clients the context they need to set their pay programs.
Our team partners with clients to understand the challenges they face and identify the best peer group to research market pay practices. We offer a complete solution that includes full services in compensation design, delivery, and communication with full market context. We ensure that your pay programs are effective, competitive, and aligned with your business goals — allowing you to compete in the market. When we conduct our market research, we look at entire pay structures — from base pay to bonus opportunities — to help clients understand where their programs are relative to the competition, where you want to be and how to get there.
Our consultants work side-by-side with clients to co-create questionnaires and define appropriate peer groups to suit client needs. Once we administer and receive results from the survey, we work with clients to interpret the results and apply to their firms.
Broad and Global Focus with Specialized Expertise
Market Practice Studies provide a market perspective on levels of pay and employment practices. While we have global coverage, we provide our clients with sector and location specific results and advisory services to help clients effectively set their strategies.
To learn more about our Market Practice Studies, please click here.