The work we do at EssilorLuxottica matters. That’s why our goal is to provide compensation packages that are market-competitive. You’ll see our packages evolve to more closely match market standards.
To help you understand how pay is determined at EssilorLuxottica, below you’ll find our philosophy for making pay decisions.
Base Pay
Our base pay methodology is constructed based on market-competitive data.
Market-Competitive Pay: How Does it Work?
The starting point for determining your pay is the job you do. Each job is assigned a market reference point (MRP) based on the value of that job in the market. Multiple salary surveys of what other employers pay for the same or similar job are used to arrive at this “going rate,” or MRP. The MRP assumes an employee is fully competent in their job. It is industry standard for newer employees and employees just learning their roles to generally be paid lower than the MRP. Pay for employees whose contributions, experiences and performance significantly exceed what is required to do the role may be above the MRP.
Guiding Principles for Pay Decisions
New Hires and Promotions- Hiring Managers have access to the pay range for each job in the Applicant Tracking System (ATS) in Talent EssilorLuxottica.
Partner with your Regional Manager or HRBP when hiring or promoting an employee.
Lateral Moves- Increases are not required for Lateral moves. If business needs warrants an increase, review with HRBP and Regional Manager.
Demotions- Employees who take a step down in position should also expect a decrease in pay. Partner with your Regional Manager or HRBP to determine if a decrease in pay is warranted when an employee steps down in position.
If you have any questions, please speak with your Regional Manager or contact your HR Business Partner.
Frequently Asked Questions
Q: Why use Market Reference Point to determine pay?
A: The work we do at Luxottica matters. That’s why our goal is to provide compensation packages that are market-competitive. You’ll see our packages evolve to more closely match market standards.
Q: How is MRP established?
A: Functional job titling and position descriptions are utilized in obtaining market reference point. On an annual basis, compensation works with various salary survey companies to update MRP for each job.
Q: How do I know my employees are being paid competitively?
A: On an annual basis compensation updates all MRPs to review our overall market competitiveness.
Q: What if my employees ask to view their market data? What do I tell them?
A: At this time we are not providing individuals with their MRP.
Q: How do I determine salary offers for employees?
A: The employee’s current role, experience and position to market should be taken into consideration along with position to market and experience of the new role. All pay decisions outside of the guiding principles should be reviewed and discussed with your Regional Manager and HRBP.