Organization: A trucking and logistics company
Headquarters: A small East Coast city
Challenge Faced: Hire for new types of jobs to enable digital transformation and engaged current workforce.
Solution: Revamp the current rewards plan and career framework to offer more competitive compensation and a more compelling total-rewards plan that meets the desires of a younger generation, as well as introduces flexible career paths.
Digital transformation is changing how organizations operate, and CHROs have an opportunity to lead the charge. Creating a workforce for the digital age will involve defining new jobs and career paths. The case study below offers an example of how Aon partnered with an organization to re-engineer its rewards framework to attract and retain top talent in a competitive market.
A trucking and logistics company located in a small East Coast city had a strong company culture and attractive employee value proposition. However, because of its location, the company faced difficulty attracting the talent it needed to move its business into the future. Employees with the right set of digital skills are already in high demand for companies across all sectors. Additionally, our client also faced unexpected competition for in-demand technology talent from a large telecommunications conglomerate headquartered in another city, which broadened the scope of peers our client traditionally viewed as competitors for talent.
The company had previously hired mostly local talent but, with its industry facing digital disruption, it has become more dependent on technology. The business needed a workforce with strong skill sets in data analytics, cybersecurity and artificial intelligence. In order to find these skills, the company had to go to other locations outside of its normal target talent pools. Finding employees with these skills also meant the company needed to review its approach to rewards to attract new types of talent.
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 comprehensive data benchmarking for more than half of the company’s jobs and then developing a new salary structure specifically to attract tech talent. Rewards opportunities for the types of new jobs the company was targeting differed in important ways from the client’s traditional rewards plans. The analysis found that the company needed to offer higher pay for these jobs, as benchmarking insights revealed that the company simply wasn't offering market rate for the types of in-demand jobs it needed to fill.
Beyond our approach to developing a new rewards structure for future jobs, the company also had an older rewards system in place that it found wasn’t resonating with younger workers. These employees were typically drawn to factors such as a more dynamic employee-recognition program and greater opportunity for career progression. By helping the company reimagine its 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 and engage its current workforce.
For more information about how Aon is helping organizations reimagine their rewards programs to identify, attract and retain top talent in the digital age, visit aon.io/ DigitalWorkforce.