McLagan annually surveys over 1,000 different financial services clients in over 70 countries regarding pay levels. Those industry specific compensation surveys provide detailed market information that our clients use to make incentive decisions, set accruals, build salary processes, determine budgets and establish hiring plans. Our surveys help clients ensure that their compensation spend yields maximum value to their businesses.
McLagan helps clients develop effective compensation strategies which balance performance, firm wide and individual, with reward by leveraging our proprietary database of detailed headcount, aggregate spend, productivity and payout ratio data. With increased regulatory, political / public attention turned to the pay equation our fact-based approach enables clients to understand how on-going adjustments to accruals will effect market position, and how to direct scarce dollars appropriately.
McLagan conducts a variety of market practice studies, covering all aspects of Human Capital Management (HCM) in every major financial hub. Our focus is on market prevalence, best practice and trends across areas such as incentive plan structures, long-term incentive plans, severance, expatriate management, graduate pay, salary administration, and many others. Our findings provide clients with an objective perspective on how their firms compare to HCM practices within their industry segment.
The full Human Capital Management experience for employees in financial services firms is more important now than ever. Due to increasing benefits costs and balanced work/life demands, the complete package offered by employers is a key part of the equation. We conduct annual studies, outlining the latest market practices and trends for all aspects of health, welfare and employee benefits, providing clients with an objective assessment of their own offerings against those of relevant competitors.
McLagan, with our partners at Aon Hewitt, is uniquely positioned to provide a total rewards optimization review for financial services firms. We have 40 years of experience in defining human resource strategies. We help clients create the optimal mix of compensation, benefits and professional development opportunities for their unique organizational needs. Optimizing a firm’s total rewards offering can generate significant cost savings / ROI while increasing employee satisfaction and engagement.