Cushman & Wakefield Services Standardizing Comp Management Across the U.S. and Canada

Previously, the team relied on various sources like the Bureau of Labor Statistics (BLS) and internal surveys for labor data. These sources were often outdated, and BLS data is only updated once a year. It was challenging to obtain accurate, current information for hourly trades like plumbers, electricians, and HVAC technicians. The team relied on dozens of spreadsheets to manage and analyze data, building pivot tables by location, position, and title, and manually calculating the 20th, 50th, and 75th percentiles for each job and level.

HR uses CompAnalyst® Enterprise to manage its annual salary planning and compensation strategy. The team uses CompAnalyst® Market Data every week to accurately bid jobs across the country, using current market data to make competitive offers. If a Level 2 plumber is needed in Oshkosh, Wisconsin, an employee can input the information and receive the report in an inbox within seconds.

During the pandemic, inflation went up and wages across all levels kept up with it, making competitive offers nationwide a moving target. Access to CompAnalyst® Market Data made the difference because it's updated monthly. In some cases, pay was bumped up to the 75th percentile when people were not as eager to take jobs at average wages. This created an internal feedback loop to inform what to offer under similar circumstances in the future.