Deloitte recognized as the undisputed global leader in compensation consulting by ALM
NEW YORK, NY, USA, 29 April 2019—ALM Intelligence has ranked Deloitte as the undisputed global leader in the report entitled The ALM Vanguard: Compensation Consulting 2019. On compensation consulting, Laura Becker, analyst, Management Consulting Research at ALM, highlights, “Deloitte takes the overall lead this year with significant investment into gaining insights into future workforce disruptors through its Research and Sensing's Total Reward research and its ‘Global Job Architecture Survey.’”
“With an ever-changing workforce, driven by the gig economy and new employment models, the compensation landscape is rapidly evolving,” says Greg Stoskopf, managing director, Human Capital Practice, Deloitte Consulting LLP. “Organizations will have to fundamentally change how they design and implement their compensation programs to meet future workforce demands—Deloitte is focused on helping clients efficiently adapt to a new normal.”
According ALM, compensation consulting is defined as “part of Rewards Management, which forms part of the management consulting services directed at clients’ back office activities. Its objective is to improve the incentive systems designed to motivate employee behaviors aligned with a company’s strategic objectives.”
“As Deloitte looks to the future, we will continue to focus on leveraging breadth, depth, and business focus in compensation advisory to serve clients with their compensation strategy needs,” adds Andrew Erhardt Lewis, director, Consulting Reward and Talent, Deloitte North West Europe. “In a competitive war for talent amidst changing regulatory requirements with pressures on pay transparency and equality, Deloitte’s commitment to anticipating the future of work and moving from an organization-led to workforce-led compensation solution will be critical to delivering advice to clients.”
Additional report findings
- “Deloitte provides compensation consulting with an agile team geared to advise organizations on the evolving global compensation landscape with a focus on trending issues, including the competitive environment for talent, and regulatory requirements.”
- “Deloitte’s view is that clients have to fundamentally change how they design and implement their compensation programs to accommodate the future of work as the workforce continues to diversify as new jobs will require different thinking traditional compensation models will not support.”
- “In addition, expansion into global consumer markets requires global workforces to adhere to local regulations and new legislation – with Deloitte’s mantra being ‘think globally, act locally.’ As such, Deloitte approaches engagements with a built-in infrastructure using in-house developed technology, as well as [forms] alliances when appropriate, to provide expertise to create [professional] experiences that provide value-added business outcomes.”
- “Deloitte provides end-to-end advisory services using extensive market experience, in-house research through Research and Sensing and other Deloitte branded surveys, proprietary tools and resources, down to the drafting of legal documents. The [organization’s] market research on job architecture, short- and long-term incentive plan designs, salary structures and specific local market compensation databases as well as Research and Sensing's Total Rewards research provides clients with insights on future workforce disruptors.”
- “In addition, Deloitte’s continued investment into cognitive technology, with its Cognitive Personnel Insights [CPI], providing AI driven solutions for clients saving manual work and providing significant clarity in the area of job architecture and others is a significant strength of the [organization]."
- “All CPI tools minimize manual work enabling Deloitte to build natural language processing classification models. In the area of non-traditional rewards, Deloitte designs innovative pay for performance approaches, such as programs with a rating-less performance management.”
As used in this press release, “Deloitte” refers only to the Deloitte Touche Tohmatsu Limited member firms and their affiliates.
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