Value of Compensation Survey Data

The increasing challenge of recruiting and retaining leading industry talent continues to shine the light on disconnects in compensation philosophy and market trends.  While compensation data resources are abundant, we’re the first to admit that you can poke holes in just about any survey on the market.   Referencing relevant peer data that takes into account organizational size, complexity and geographic location is a necessary first step, but cannot be the end all. We recognize that internal equity is an important consideration for any organization, but this balancing act often clouds the ability to recruit top talent for a specific opportunity.  As candidate pools for most positions continue to tighten, the ability for organizations to offer not only a compelling professional opportunity, but also a competitive compensation and benefits plan has never been more critical.  Aligning your wish list with market reality is one of the most frequent challenges faced by our clients.  In today’s hyper competitive market, the ability to land the perfect candidate who will hit the ground running with immediate impact requires an efficient process, but often a stretch on compensation.  In many cases, it’s been 10-15 years since a particular client has recruited a CFO of CIO and understanding and accepting current market conditions is essential whether you like it or not.   Unfortunately, we do see short sighted decisions driven by the saving of insignificant compensation dollars that don’t take into account the strategic and financial payoff that should result from investing in leadership.  We recognize the value in compensation structure and philosophy and the need to set appropriate internal parameters- that said, understanding what it takes to recruit and retain that true impact player is really what’s it all about in today’s marketplace.  Selling yourself short by saving a few bucks may help justify a budget on the short term, but building a team that can position your organization for a sustainable future is truly keeping your eye on the prize.

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