Compensation Strategies
Use compensation strategies to effectively compete for HR talent.
Our Certified Compensation Professionals will help you optimize your compensation program to more effectively attract and retain valuable employees.
We help you to:
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Create/update job descriptions
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Align performance management with compensation to create a pay-for-performance system
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Evaluate FLSA classifications (exempt/non-exempt)
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Establish a compensation philosophy (your desired compensation position relative to the market)
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Rank your positions based on the job responsibilities/duties (including complexity) and the education, skills, and experience needed to successfully perform them
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Identify the external organizations with which you compete for HR talent
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Identify your benchmark positions, conduct analyses using current market data, and provide a detailed summary (i.e. min/mid/max and/or median) for your compensation planning
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Create/update your base compensation structure (whether graded or banded), determine what pay adjustments are needed to meet your desired position in the market, calculate the financial impact of these adjustments, and develop an implementation plan to make the adjustments over a period of time, if needed
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Conduct analyses and provide recommendations regarding your incentive compensation structure
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Prepare a manager's guidebook, conduct senior leadership training, and prepare employee communication documents