A global leader in the life sciences industry, our client found itself competing for talent with traditional technology companies in the San Francisco Bay area. Given the nature of this market as a magnet for top tech talent, it became more critical than ever to stay competitive in attracting, engaging and retaining top talent by ensuring that local total rewards practices were aligned with those of companies competing for the same limited talent pool. We conducted a full-day workshop with HR leaders to rapidly assess the strength of our client’s total rewards offerings relative to technology companies, determine potential differentiators, and prioritize actions that would support their current and future workforce needs.
The market for talent in the San Francisco Bay area is extremely competitive.
Identifying opportunities to differentiate total rewards for employees in the Bay area was becoming critical to support a rapidly growing business.
In addition, any total rewards initiatives needed to align with the business strategy, address needs of critical roles, and balance cost and impact.
Identifying opportunities to differentiate total rewards for employees in the Bay Area was becoming critical to support a rapidly growing business.
Our team of experts from talent, rewards and communication designed and facilitated a workshop with more than a dozen HR and business leaders.
The purpose of the workshop was to identify ways to differentiate total rewards programs and practices for employees in the San Francisco Bay area, other than just using pay as a differentiator.
As part of the workshop, we shared an analysis of the competitive landscape, reviewed best practices in the technology and life sciences sectors, conducted a high level assessment of current programs, and developed and prioritized recommended actions.
Through Aon's partnership, the company identified several key actions that would better support its workforce needs.
Aon Delivers Distinctive Client Value and Impact
The client found the workshop highly valuable in understanding competitive market practices and prioritizing go-forward recommendations.
Through Aon’s partnership, the company identified several key actions that would better support its workforce needs, including revisiting LTI/equity programs, exploring a new approach to time off, developing an EVP, and improving total rewards communication.
Our ability to provide market insights from peer companies, combined with blended expertise across multiple industries, provided the client with actionable recommendations along with guidance on how to implement them.
For more information about how Aon is helping organizations reimagine their rewards programs to identify, attract and retain top talent, read our Reimagining Rewards whitepaper.