Cooper Fitch’s highly targeted and tailored remuneration surveys cover all forms of compensation measured across businesses, divisions and roles types. Our methodology focuses on identifying the identical positions within the leading organisations in the same business sector as our client organisation is operating in. Furthermore, our customised analysis includes a summary that highlights key issues and trends in business, financial and compensation matters.
A leading asset management holding was facing a relatively high attrition rates and difficulties attracting top talent to their organisation. In addition, the Client was looking to grow their overall operations and headcount. In order to do this, they wanted to ensure that their compensation practices (methods and levels) were aligned with the competitive market so that they could attract, motivate and retain the right talent to drive their business strategy.
During the discussions about the scope of the exercise, the Client and Cooper Fitch agreed on the list of unique titles to be surveyed on the low – mid – high points of the following aspects of the remuneration: basic, housing allowance, transportation allowance, schooling, flights, bonus, years of experience. The Client shared the full details of the remuneration for each of their current employees.
Cooper Fitch’s agreed methodology was to map out at least 20 of the market leading companies in the Asset Management Sector (same as the Client) including the main competitors. Further, Cooper Fitch would identify at least 10 – 15 Touch Points (respondents) in the 20 companies for each of the unique positions, reach out to them directly and conduct a survey either over the phone or face to face.
Over the next 8 weeks' Cooper Fitch surveyed over 500 relevant Touch Points (respondents) and compiled a fully comprehensive report including full analyses and benchmarking The Client’s remuneration and bonus structure against the market averages.
The analyses using Cooper Fitch’s compiled data showed that the Client’s offered compensation and bonus structure were substantially below market averages, while their relative performance exceeded that of the market. After Cooper Fitch’s detailed recommendations, The Client adjusted the compensation levels and aligned the reward programs with business strategy and relative performance recording a substantial decrease in turnover of highly-qualified personnel and significantly improved market competitiveness to recruit, engage and retain staff.
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