Relish Client Support Case Study: Compensation Report

A Relish client wanted to know more about how their annual compensation packages compared to other employers in their industry. Here’s how we used TransparentCareer data to help.

 
One of the aspects of our business that we pride ourselves on at Relish is our “high-touch” approach to enterprise relationships, and we’re always eager to hear from our partners how we can help both their recruiting and overall business goals.

An opportunity to do just that arose for our team recently when the recruiting team from one of our partners reached out looking for help answering a question: how do our compensation packages compare to our competitors?

The team had noticed a drop in the acceptance rate for full-time offers, and they had developed hypotheses that could explain the phenomenon, but they needed data to back up their intuition. That’s where Relish and the TransparentCareer platform came in.

With our proprietary database of compensation and cultural data, the Relish team is capable of answering a huge range of questions about the hiring and employment market, and the granularity of that dataset means we’re able to filter and cross reference the data in a large number of ways.

For this analysis, we first looked at the overall compensation market for MBA graduates (our partner’s target market), and we were able to break down our compensation data into annual salary, signing bonus, and other bonuses to offer additional insight into how employers structure their compensation packages.

We then analyzed the partner’s industry compensation specifically, and then looked at how the industry-specific and general MBA numbers compared to the compensation ranges reported by the partner who requested the analysis.

Finally, in order to understand how candidates view the importance of compensation, we looked at the cultural values matrices that candidates create on TransparentCareer to see how much weight their target candidates placed on compensation (spoiler: “Compensation, Benefits, and Perks” was, on average, the most important criteria by a wide margin).

In the end, the report provided three important insights for our client:
  1. Their base salary was lower, on average, than the MBA average in their industry
  2. Their competitors reported much higher non-signing bonuses, potentially due to reporting monetized benefits like health insurance as line items in their offer sheets
  3. Compensation was the single most important criteria in hiring decisions from a candidate perspective
With this report and the accompanying data, the recruiting team at our partner firm was able to develop a data-driven argument for management to improve their compensation packages, leading to increased offer rates and a more effective recruiting program.

This is just one example of the power of the TransparentCareer platform and its proprietary dataset.

Are you interested in learning more about the hiring and employment market in your industry? Looking for data to confirm your suspicions about changes in the recruiting market? Want to discuss with our team what other sorts of questions our dataset can help answer?

Just reach out to our team at recruit@relishcareers.com and we’ll be happy to set up some time to chat.