What is a Peer Group?
A Peer Group is a customized list of companies used for targeted benchmark analysis. Using the Peer Group library you create a Peer Group and then run a Market Query report where you use Peer Groups as a breakout. The following article is a step-by-step guide on how to access the Peer Group library and create a Peer Group.
How do I create a Peer Group?
1. Go to the Peer Groups Library
After logging onto the Radford Network, open the Peer Group library by clicking on the “Settings” icon if using the enhanced Radford Network.
Once setting is open, click on "Peer Group", which will open the Peer Group library:
If using the classic version of the Radford Network from the home page click "Peer Groups"
2. Create a Company List by Country
Click on the “Create Peer Group” button.
From here, users can select one or multiple countries:
*Tip: If users want to create a global Peer Group, they may want to break their Peer Group into regions (APAC, EMEA, NA) as opposed to validating all countries at once. This method is also effective if users will be creating more than one Peer Group per country.
3. Use Filters or Search Field to create company list.
Users can filter to narrow company results by Industry, Revenue Range, Headcount Range, and/or Ownership Type. Click “Refine” to apply filters.
Search by company name and refine your list
Alternatively, users can type company names into the company search field and add them individually. Once added, companies remain in the “My Selections” column.
To remove users one at a time click on the red “X”. Reset or Clear Selections will remove all of your "My Selections" choices.
4. Proceed to Review Jobs
Peer Groups require a minimum of 10 parent companies to validate. Once 10 or more companies have been selected to validate, proceed by clicking “Review Jobs”.
5. Review Country, Companies and Jobs
Review the companies and jobs available by country. If the selections did not pass the first round of validations the red “select” button will not be available. Click “Select” to pick the desired countries.
Once a Peer Group for a country has been validated, it cannot be modified. If a Peer Group has not been used in a Market Query, it can be deleted.
6. Review in Peer Group Library
The countries selected will now go through final validation process. In the Peer Group Library, validated Peer Groups will have a green check mark. Peer Groups that fail validation will have a red exclamation point. Click “see more” to review why a Peer Group failed. Common reasons for failure are:
- The Peer Group is too similar to an existing Peer Group
- The Peer group duplicates a cut already available in Market Queries
Users can track the history/usage of validated Peer Groups in this area.
7. Build Peer Group Reports in Market Queries
Users can now proceed with using the Peer Group in a Market Query. Go to Data/Market Queries and choose the “Peer Group Breakout” option. Select a country to see the available Peer Groups for that country.
Best Practices and Helpful Information
- While users cannot edit a Peer Group once validated/used in Market Queries, users can use an existing Peer Group as a starting template for a new one. Select “duplicate,” and make sure to include 5 or more different companies from the original to have a better change of successfully passing validations.
- Peer Groups can be deleted unless they have been used in a Market Query.
- There is a character limit of 30 for Peer Group names, so please plan the naming convention accordingly.
- Peer reports are now delivered in one worksheet in the same format as our standard output. This will help significantly reduce post processing time.
- Before creating a Peer Group, it is highly recommended to review and select the desired Peers from the Participant List which is available from the Data Tab. Users can filter on Industry Code, check data availability by country, and search other demographic details.
- We have implemented additional data protection rules for peer group validation to supplement our existing data privacy framework.
- A minimum of ten companies are required to create a peer group.
- A new peer group must have at least 5 different companies compared to all other active peer groups created by users at the same client company.
- Once a Peer Group is successfully created and used in a Market Query, it can no longer be deleted until the following survey year.
- To refresh the data within a Peer Group, it must be re-submitted for validation checks to ensure the peer group continues to comply with all data privacy rules.