Compensation Plan Design and Analysis

Well designed pay systems will reinforce and align with your business strategy. The intensity and degree of competition for labor as well as the competitive positioning of your organization's products and/or services necessitates an increased emphasis on effective design of your compensation system which impacts strategic recruitment, retention and the job performance of your employees.

 An analysis of your existing compensation practices will be a starting point.  This will include a review of your pay structure, and an assessment of its internal equity, external market competiveness and legal defensibility. Determining your compensation philosophy and how to align this philosophy with your business strategy and goals will guide the type of compensation design such as a pure market approach, a blended approach or perhaps a broad banding approach to enhance or totally update your current compensation system.

AllHRMatters will assist you in determining the appropriate number of pay structures and develop targeted pay ranges through the use of valid survey sources. This will ensure a consistent, equitable and market or competency based compensation structure. With a solid compensation system in place, following job analysis and job evaluation, your organization will be positioned to strengthen an existing performance management system or pay-for-performance program intended to improve the overall existing reward structure and influence increased performance of your organization.

 

 

 

 

 

Projects:

Successfully developed, designed and deployed diverse total rewards programs including pay-for-performance, salary administration, and incentive compensation programs for sales, management, exempt and non-exempt workforces to ensure compatibility with organizational mission, strategy and culture.

Researched, developed and implemented gain sharing program. The new program increased both employee ownership of company objectives and employee morale, and led to improvement in the organization’s attainment of financial goals.

Developed Total Rewards philosophy and expanded compensation function including policy development, management training, communications and Intranet resources to ensure that program was aligned with strategic business goals

Automated salary administration process increasing productivity by 50% and reducing error rate by 75%

Developed automated process for analysis and communication for achievement of variable compensation plan

Developed the compensation function, including policies, job descriptions, career ladders and pay structures