Financial Services Firm Total Rewards

The financial services firm had accumulated significant pay equity gaps through years of inconsistent compensation decisions. Similar roles in different business lines carried materially different pay levels. High-performing employees in critical skill areas were being lost to competitors offering market-rate premiums, while pay compression left experienced staff earning barely more than new hires. The compensation team lacked the analytical tools to identify these disparities systematically, and manual market benchmarking was consuming weeks of effort per cycle with results that were outdated by the time they were compiled.

WeSoar mapped every role's skill requirements and matched them against market compensation data, creating a skills-weighted view of pay that went beyond traditional job-title benchmarking. The platform identified pay equity gaps by gender, tenure, and skill criticality, then modelled remediation scenarios with budget impact analysis. A skills-based pay philosophy was established, linking compensation progression to verified skill acquisition rather than time in role. Managers received compensation decision-support tools that showed market positioning, internal equity, and the skill-value of each team member.

Pay equity reached 98% across comparable roles within three months of implementation. Regrettable turnover dropped by 25% as the firm's compensation became demonstrably competitive for critical skills. The skills-based approach delivered 15% savings in compensation spend by redirecting investment from overpaid generic roles to underpaid high-skill positions — a reallocation that improved both equity and retention simultaneously. The compensation team now runs market benchmarking in hours rather than weeks, and every pay decision is supported by objective skill-value analysis.