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Compensation benchmarking Analytics

Our client is one of the world’s leading independent consultancy and outsourcing service providers in the complex field of Lifesciences. The company is headquartered in SINGAPORE and its clients include many of the world’s leading pharmaceutical, biotechnology, medical device, and specialty pharmaceutical companies and life sciences service providers.

Our client was faced with the persistent issue of losing key employees to its competition while also struggling to hire required talent in accordance with the compensation guidelines internally. In order to address this business challenge, the company partnered with Office Solution to benchmark the compensation structure for its consulting practice against other organizations offering consulting services for the healthcare sector in Brazil. Office Solution Compensation Benchmarking intervention is carried out using a unique methodology that does not only help our clients draw a comparative analysis from the industry in general but also focuses on studying internal compensation data in order to recommend the best corrective measures for internal standardization of Compensation. We prepare the benchmarking report keeping in mind our client’s business needs in the market and not presenting generic data on the Country/Industry or regional level. All of our benchmarking interventions are carried out discretely and in complete confidence and is not refurbished for any other client in a similar industry space.

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Office Solution Compensation Benchmarking

Office Solution carried out this discreet & non-participative study using Primary and Secondary research processes. We commenced the project by identifying Consulting companies in BRAZIL, which have similar service offerings and attract similar talent as our client and further qualified best fit companies to draw analysis for the Compensation Benchmarking intervention. Each level within the target pool was identified and since the hierarchies varied across different organizations and practice groups, Office Solution carefully drew the Organization structure for each target company; these structures were then analyzed against one another to create an organization structure comparison. To obtain accurate, real-time data points, our team of consultants populated multiple touch-points across different levels/positions of the target companies, and conducted primary research to gather detailed information on the compensation data across the targeted levels; this was validated through formal documentation. As a part of the scope, Office Solution obtained information about the candidate’s backgrounds and the scope of their roles. To help our client view the compensation benchmarks in a pragmatic order, Office Solution analyzed the compensation benchmarks after segmenting all the target organizations across their Divisional and Business focus. Challenges The Talent Pool had a diverse demographic distribution and since positions across all levels within the organization were benchmarked for this analysis, hence the engagement had to be customized. Since hierarchies varied across different industries, it was important to study and draw a comparison of the organizational structure of the target pool. To make the candidates divulge information on their compensation and having them send their formal compensation documents without pitching any opportunity; required us to develop close and deep relationships with each individual.

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