It communicates to employees that their contributions are valued, ensures optimal performance, and directly impacts recruitment and retention.
20/20 Foresight has extensive experience analyzing, developing and implementing compensation plans for companies in the real estate and financial services industries.
We understand the diverse business models, nuances of various roles and employee profiles, and the need to align compensation programs with the culture and philosophies of each unique organization.
As executive recruiters who have specialized in real estate and financial services for more than 25 years, we are uniquely positioned to provide clients with the most up-to-date compensation trends.
Some firms turn to salary guides when doing their compensation planning. This is mistake. Salary guides can only offer generalizations. More to the point, these generalizations are skewed by several factors including the blending of data from public and institutional companies, use of ambiguous job titles, and failure to capture the expanding scope of critical roles. Indeed, many salary guides are based on surveys with HR Directors who inflate compensation data in order to make their firms look more attractive.
In contrast, 20/20 Foresight’s compensation benchmarking process is customized, specific, and possesses a degree of accuracy that is unparalleled.
Our process is summarized below.
In order to put together an accurate set of comparable data, we begin by assessing your organization. This includes many factors -size, culture, ownership, asset class, investment strategy, organizational structure, geographic location and vision for the future.
Job titles do not tell the entire story. Accurate benchmarking requires an in-depth knowledge of the role. We are experts in real estate and financial services with a deep understanding of all functional disciplines. In addition to this baseline, we review each position’s responsibilities, experience, direct and indirect reports, agreement terms, revenue impact, and growth potential.
Once we have performed an analysis of your organization and the relevant positions, we research peer companies in our proprietary database and aggregate comparable data. As recruiters, we possess precise data on candidates’ base, bonus and long-term incentive compensation. This data is out of reach for any other firm.
We then do what no other firm does – compile live compensation data by actively recruiting and interviewing candidates for position(s) under analysis. This data takes into account the nuances of your company and the positions at issue. As important, these compensation analytics are in real time and accurate up to the minute.
We conclude by drafting a comprehensive report utilizing a tiered scale to clarify the degree of alignment of each comparable. Finally, we review the report with our Client and collaborate to refine the conclusions.