Client Context
Our client is a UK-based strategy consulting firm specialising in strategy, launch excellence, and operations advisory for Pharma and Biotech clients across the full product lifecycle.
With a team of experienced professionals, leadership wanted to ensure their compensation packages were aligned with market and competitor standards.
In the short term, they sought insights on salary bandings from key competitors, incorporating metrics on culture, work-life balance, benefits, and working models.
They were also keen to understand how to translate this data into a compelling employee value proposition for internal communications.
Client Questions
- How competitive are our current compensation and benefits packages across consulting levels?
- Which competitors are attracting the talent we need, and why?
- How can we strengthen our value proposition to attract and retain top performers?
Our Approach
We conducted a competitor benchmarking assessment to guide the firm’s talent strategy and support internal communication. Our approach included:
- Comprehensive market assessment, analysing base salaries, bonuses, benefits, and progression timelines across five UK competitors.
- Additional insights around average company tenure, role tenure, working hours, promotion timelines to Partner, and bonus cycles, alongside cultural factors influencing employee experience.
This methodology provided a data-driven view of the firm’s market positioning, giving actionable insights for pay, progression, and employee communication strategies.
Impact
The benchmarking insights enabled the client to:
- Gain a clear understanding of market positioning across compensation and career progression levels.
- Enhance their ability to attract and retain high-value consultants in a competitive market.
- Make evidence-based decisions on salary and promotion planning, reducing retention risk.
- Develop a clear communication plan for internal discussions, managing employee expectations effectively.
