We are excited to announce a number of developments across the Radford Platform designed to provide clients with a more seamless experience with enhanced value. The New Radford Platform is a single market-leading platform designed to serve the world's most innovative companies. The platform includes three key elements:
- Radford Global Compensation Database - A single database containing all client employees across industries and geographies
- Radford Global Job Architecture & Leveling System - A unified and highly differentiated job leveling system and job library that creates a common benchmark language for all clients
- The Radford Network - A dynamic and intuitive portal to access compensation insights quickly and efficiently
There are a number of key changes required to be able to deliver this exciting new offering such as:
New Job Codes - We have fully redesigned all of the benchmark job codes previously contained in our legacy survey offering
Expanded Job Coverage - We have added and enhanced jobs across the platform to provide additional benchmarks for each of the evolving industries that we cover
Pre-Populated Input Template - We have taken your firm's prior submission and converted all employees to align to the new job coding structure
New Executive Levels - We are pleased to announced a more robust and flexible Executive level offering with six levels from CEO to VP (E6, E5, E4, E3, E2, E1)
Enhanced Life Sciences Levels - We are introducing new Technical / Scientific levels within our Life Sciences offering. We continue to offer the core Radford career tracks of Management, Professional and Support
New Company Input tab - We are collecting more company specific information to be able to provide advanced filtering capabilities for clients requiring greater precision on benchmarks
Embedded Global Workforce Analytics - Previously there was a separate set of job codes reserved for employees who did not have a job match. We are now encouraging clients to utilize the "Other Functions" and "Other Areas" options for employees who do not align to the more specific benchmark jobs
Enhancing Environmental, Social, & Corporate Governance Capabilities - We continue to collect gender and now are collecting ethnicity in the US to be able to provide additional analytics to support ESG initiatives
Additional & Enhanced Equity Definitions - Based on client feedback, we have modified our equity definitions and introduced new data elements to provide additional context. We are enhancing how we collect equity data using three different approaches:
- Guideline Value - this is reported for a job and expressed as a whole number, not a range, with participants submitting the typical amount provided (e.g. middle or top of the range)
- Intended Value - this is reported for a specific employee and is the amount of equity communicated in an offer letter (for new hires) or the value intended to be provided (for ongoing grants) at the time the decision was made to award an equity grant to the employee. The intended value may differ from the actual as a result of differences in stock price between the date awards are determined and actually granted
- Actual Value - this is reported for a specific employee and is the value of the equity actually received by the employee based on the actual number of shares/units /options and the corresponding price/value on the award date