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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 experts will facilitate discussions to determine appropriate compensation strategies in view of your organization's goals.
Our team will compile competitive pay data for jobs from multiple reliable existing market survey sources using job description details.
Next, pay data is converted into current dollars at a specific date for purposes of comparison.
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.
Jobs are leveled and grouped for which market pay tends to be reasonably comparable. Slot any jobs into the compensation structure based on internal equity if market data is not analyzed.
Finally, compare current pay to market pay ranges and provide specific recommendations to better align practices with strategy.