Attracting, retaining and motivating employees in today’s business environment requires utilizing a host of tools including base pay, incentives, equity, performance management and benefits. Balancing these tools in an equitable, affordable and legal manner can present difficulties for even the most dedicated employers.
The Compensation experts at the Management Association are committed to helping employers develop creative, realistic and workable solutions to today’s challenges.
No universal, standard program exists that will meet every organization’s needs. In order for your total rewards program to work, it must fit the organization’s culture and strategic initiatives. Our compensation professionals will work with your management team to implement a sound package that increases value to employees while respecting your budget and adding to your bottom line.
We’ll help your organization sort through the many compensation challenges, alternatives and approaches found in your unique business environment.
Compensation System Design services include:
- Determining the best total rewards philosophy for your organization.
- Reviewing your current compensation and benefits system to see how it compares to your labor market competition.
- Formulating effective communication strategies focused on the value of your compensation, performance management and benefits programs.
- Conducting job analyses and documenting job content.
- Developing systematic base pay structures.
- Using market benchmarking or job evaluation methods.
- Development of employer specific base pay strategies.
- Analysis of employee base pay to new base pay structures.
- Job description development.
- Developing motivating variable pay programs for production, office, management and sales employees that tie organizational strategies and goals to individual or team performance.
- Creating pay-for-performance systems including performance appraisal tools and merit increase guidelines.