Aon understands the difficulties facing organizations as they try to navigate competition in search of top tech talent. The case study below offers an example of how Aon partnered with an organization to re-engineer their rewards framework to attract and retain top talent in a competitive market.
Situation
A trucking and logistics company located in a small East coast city had a strong company culture and attractive employee value proposition; because of its location, however, it faced difficulty attracting the tech talent it needed to move their business into the future. It also faced unexpected competition from tech talent from a large telecommunications conglomerate headquartered in another city, broadening the scope of competitors.
Challenge
However, the company hired mostly local talent. But with its industry facing digitalization and disruption, it has become more dependent on technology and needs a workforce with strong skill sets in data analytics, cybersecurity and AI. In order to find these skills, the company had to go to other locations outside of its normal target talent pools.
Facing industry digitization and disruption, the company needed a workforce skilled in technologies including data analytics, cybersecurity and AI.
Solution
The company worked with Aon to completely reimagine and re-engineer its rewards framework from the ground up. Aon started by rebuilding the organizational chart using proprietary methodology, performing a comprehensive data benchmarking for more than half of the company’s jobs and then developing a new salary structure specifically to attract tech talent. That meant offering more pay – benchmarking insights revealed that the company simply wasn’t offering market rate for the tech talent it needed.
By helping the company reimagine their career framework and organizational structure, Aon was able to help it create a more compelling employee rewards experience.
Results
Beyond the compensation piece, the company also had an older rewards system in place that wasn’t as attractive to younger workers who are typically drawn to factors such as a more dynamic recognition program and greater opportunity for career progression. By helping the company reimagine their career framework and organizational structure, Aon was able to help it create a more compelling employee rewards experience that attracted the type of talent it was seeking.
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.
