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Modernising employee benefits with compensation benchmarking
See how a leading central bank optimised their employee benefits offering
Case study
We are proud of the partnership with our client, a central bank in a leading European market. When connecting with our Market Intelligence team, our client sought to review their pay structures across the organisation, and ensure their employees were fairly and competitively compensated.
- Service: Compensation benchmarking
- Industry: Banking and financial services
- Size: 9k+ employees
- Location: Europe
The insights
-
10+
competitors analysed in the financial services and insurance industry to support competitive insights
-
63%
of Millennials demand equal access to benefits regardless of seniority
-
93%
of professionals said benefits are important when accepting a new job
-
94%
of professionals noted internal mobility as the top valued benefit
The challenge
Given changing employer expectations and competition within the market, our client sought to modernise their benefits offering and commissioned the external expertise of our team to:
- Identify current employee benefits expectations
- Benchmark against similar institutions.
- Evaluate and readjust current offerings to better align with the market.
The solution
To support our client in achieving their objectives, the solution was presented in three different phases. Phase one included data collection in collaboration with the client by using a survey designed to obtain data on general perceptions across selected groups.
After phase one, data analysis began the analysis of the gaps between the set of benefits currently offered and those offered in the market, as well as general social expectations. Thereafter, the final phase included the delivery of recommendations.
Each phase was supported by our interim management team to ensure our client achieved the objectives of the project through a phased, but focused approach.
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Contact us to discuss your Compensation Benchmarking requirements
