Korn Ferry Products Group: Pay solutions. November, 2017

Transcription

1 Korn Ferry Products Group: Pay solutions November, 2017

2 Get the complete pay picture with our transformed Pay offering. Rewarding your people. Optimizing your company s performance means bringing together different perspectives, including: your company s shape and structure compared to the market. how your current reward programs are perceived by employees. whether you are rewarding people based on their performance. How do you know you are optimizing your pay spend on the areas of the business that most need investment, which will drive engagement and performance? 2017 Korn Ferry. All rights reserved 2

3 Our solution Our new Pay offering, including Reward Health Check and Organizational Benchmarking, allows you to execute your strategy, easily identify internal alignment and external competitiveness, along with pay benchmark data, to give you an unparalleled view of the full picture. Complete view of all your pay and reward data in one place. Interactive analysis for detailed insights. Downloadable reporting and ready-made presentations to share across the business. Contextual analysis of your organizational structure benchmarked against the market. Experts on the ground, in every corner of the world. Market reward insights by country and sector Korn Ferry. All rights reserved 3

4 Our tools do the hard work, whilst you make the impact. Manage your information efficiently. Our Pay Hub gives you a clear view of everything in one place, saving you time. Give your numbers context with ease. Your pay data will be compared to the market to see how you measure up, and then presented for you to easily deliver recommendations to your business. Discover the right data, quickly. Our hub makes it easy to access and summarize the right data for the right market for queries no matter how high-level or detailed Korn Ferry. All rights reserved 4

5 Our pay data key figures 110+ Countries where we collect and provide pay data 25,000 Organizations in our pay database worldwide Job 20m+ holders for whom we have salary data in % of the Fortune 500 use our pay data, and contribute to our database. 70 Every 70 seconds, a user logs into PayNet. 71% of the 60 largest countries where we are #1 or #2 in data density. 15+ years of sustained global database growth Korn Ferry. All rights reserved 5

6 Differentiators for Rewards and Benefits Unmatched understanding of executive and employee motivation and behavior and the link between work, people, and organization performance. Robust procedures guarantee the most precise data on the market. World-leading job mapping technique powers the most accurate comparisons available. The world s most comprehensive reward databases covering 20 million+ professionals in 25,000+ organizations across 110+ countries. A truly global consultancy with a diverse group of reward experts. Expertise to develop performance management systems that enable organizations to effectively reward high performance. Equal pay audits to help organizations foster diversity and inclusion in the leadership ranks and across the workforce, enhancing organization capacity for change and innovation. Continuous research to develop new thinking and best practice, partnering for 14 years with WorldatWork and Loyola University Chicago. Local account manager assigned to you, to directly support and work with you on your pay decisions Korn Ferry. All rights reserved 6

7 Additional Features and Functions New and improved features and functions Live interactive reporting of Reward Health Check Static PDF reports moved online and interactive Ability to filter and adjust results by job level, job family, compensation element, employee classes and more. View live data tables and easily export results to excel. Online data submission Smart upload of data via a secure on-line process. Check the status of global submission through the new leaderboard. Job matching & mapping support via a Do It For Me tool. Receive real-time feedback on your organization throughout the process Korn Ferry. All rights reserved 7

8 Interactive Reward Health Check Pay Internal Equity Filter results by job family groups (Operational, Technical, Support). Adjust salary range maximum and minimum in real time. Model effect of annual salary increases by adjusting salaries by a given percent. Tabular view of incumbent salaries and position in range Pay Internal Equity (drilldown) Ability to filter results by job level and/or family and receive real time feedback. Tabular view of underlying data including lowest salary, minimum/midpoint/maximum of the range and highest salary for each grade and job family. Pie chart indicating percent of employees above maximum, within the range and below minimum 2017 Korn Ferry. All rights reserved 8

9 Interactive Reward Health Check Pay for Performance Filter results by job level grouping (Executive, Mgmt./Sr. Prof, Supervisor/Jr. Prof, Clerical/Ops). Slice charts to only show grades where pay for performance is aligned or misaligned. Real-time feedback on salary gap between performance levels. Performance rating distribution curve chart Tabular view of underlying data Pay Performance Over Time Filter results by salary grade and or performance ranking and receive feedback in real time. Receive headcount distribution and average salary at each performance level. Tabular view of underlying data representing any filters as they are chosen Korn Ferry. All rights reserved 9

10 Interactive Reward Health Check Gender Analysis Filter results by job family group or a specific job family. Real time feedback on largest pay gap based on filters. Tabular view by salary grade and gender of median salary, headcount, headcount percent and wage gap. Mix of Pay Charts displaying average mix of pay for base salary, short-term incentive, long-term incentive and benefits/allowances. Filter results by job level and/or family Korn Ferry. All rights reserved 10

11 Interactive Reward Health Check Competitiveness Overview Filter results by level and job family. Adjust compensation element/aggregate to report and receive automatic results. Real time feedback on gap to market benchmark by target level. Tabular view by job level of your data to the selected market. Competitiveness Drilldown Drill down each job group and level to see which job families have the largest variance to market. Tabular view of underlying data updates automatically as data is filtered Korn Ferry. All rights reserved 11

12 Online Data Submission Assign responsibilities Account managed by a global administrator within your organization. Assign responsibilities by region, country and/or reward area. Track progress Track the progress of your global submission by assignment area. View upcoming deadlines and status in real-time. Set system generated reminder s to your team along the way Korn Ferry. All rights reserved 12

13 Online Data Submission Upload data submission Submit data securely via a pre-mapped HRIS download or sample excel template. Map fields from your system of record once and save your settings for future data submissions. Do It For Me job matching Online job matching to minimize time and effort of submitting data. Real time feedback along the way regarding how your data compares to market benchmarks. Ability to confirm or change matches and assign job family and levels only if needed Korn Ferry. All rights reserved 13

14 Future releases included in our road map Ongoing enhancements and new products Reward Health Check Global view of reward with ability to drill down all results by region, country and business unit. Report results in your terms; by your salary grades, job family names and job titles. Additional gender gap reporting by function, seniority, performance ranking as well as age and nationality where appropriate. Online data submission Upload data whenever you d like and store your history Model how your organization s pay has changed over time. Compare new Reward Health Check results to historical results to ensure salary policy or practice changes are having the desired impact. New software compensation tools Salary administration software designed to be used as a typical merit matrix or customized to target policy/practice gaps identified in Reward Health Check. Model funds or time needed to close gaps based on current and planned salary budget and forecasted market movement. Upload and manage multiple sources of market data with ability to weight and aggregate results Korn Ferry. All rights reserved 14