In concert with job analysis we create effective compensation strategies that foster quality hires, promote employee engagement and improve retention. Compensation today includes all the tangible and intangible efforts and practices that are used to compensate employees for the services they provide. A total rewards pay program or compensation strategy considers how the following items impact business operations:
- Base pay
- Medical benefits
- Retirement planning
- Dental, Life and Vision benefits
- Bonus plan
- Other health and wellness incentives
- Professional development
- Tuition Reimbursement
- PTO/Vacation and Holiday Pay
Compensation programs need to be competitive based on industry and geographic region. Pricing programs out of the market can be detrimental to employee engagement should leaner times require a drawback of benefits.
We offer a variety of compensation and benefit consulting services. Learn more about our offerings. Give us a call.