Conducting external market comparisons, which look at both competitive positioning in the labor market and competitive cost structures, can be a key decision-making tool for financial service sector business when developing market-based remuneration schemes. The multitude and sheer complexity of new regulatory remuneration requirements, and the way they relate to each other, have made conducting such comparisons much more challenging both in terms of content and methodology.
 
The industry-specific hkp/// Top Banks Survey is responsive to the changing needs of decision-makers in remuneration management. The survey is particularly focused on medium-sized and larger institutions. A steering committee of remuneration professionals from participating organizations ensures that the survey continues to be needs-based.

This means that these remuneration professionals not only have data and reports from traditional quantitative analyses at their disposal but also qualitative observations (remuneration design and developments), another focus of the survey. In addition, the survey is rooted in a network of remuneration experts (interest group) and always provides up-to-date information and ad hoc analyses (market barometer) via a password-protected web portal.
 
The survey, developed by hkp/// group industry and remuneration experts, follows a consistent methodological logic. This supports analysis and evaluation of pay in a holistic context, ranging from the management board to employee level. Participants’ data are transmitted in compliance with all relevant data security and data protection requirements.

hkp/// group consultants are also on hand to help you develop individual and function-specific benchmarks that are based and build on the survey results as well as further cross-industry studies. Such benchmarks may be needed when recruiting for specific management and/or specialist roles in the financial services sector.

 

* Photo by Isaac Smith on Unsplash