Whether we're designing your compensation program and structure from the ground-up or modifying your existing structure, our approach ensures equitable and competitive pay; key to attracting and retaining the talent you need.
Our Approach Includes:
Defining a Total Compensation Strategy
Our experts will facilitate discussions to determine appropriate compensation strategies in view of your organization's goals.
Determining Competitive Pay Levels Using Multiple Market Surveys
Our team will compile competitive pay data for jobs from multiple reliable existing market survey sources using job description details.
Aging Market Data
Next, pay data is converted into current dollars at a specific date for purposes of comparison.
Establishing and Maintaining Current Pay Grade and Wage Structures
Then, we create or modify a compensation structure based on competitive market norms to include grade minimums, midpoints and maximums. It is recommended to age the compensation structure annually to ensure wages remain competitive.