Human Resources Solutions

Compensation Systems

Strategic HR provides clients with a wide range of services related to analyzing, designing, implementing and monitoring compensation systems. In today's business environment, it is becoming increasely important that employers know how they stack up against the competition and that they utilize "pay for performance" systems. In addition, well-designed compensation systems provide a basis to better control labor costs, reduce internal inequities, and eliminate ineffective pay practices. Strategic HR's specific areas of expertise related to compensation include:

• Auditing existing compensation plans/practices
• Designing and conducting customized marketplace surveys
• Developing base pay plans, including:
  - Pay structures (grades and ranges) for all position levels and classifications
  - Pay administration plans (e.g., merit increases, promotional increases, special adjustments)
  - Designing comprehensive executive compensation plans
• Crafting incentive plans, including:
  - Equity/ownership participation
  - Individual and team incentives
  - Key employee retention
  - Sales incentives
  - Short- and long-term incentives
• Designing Performance Management Systems, including:
  - Developing performance appraisal forms
  - Facilitating development of "value-added" goals and objectives for management and employees
  - Writing position descriptions

• Identify needs
• Define the scope of work and the product(s) to be delivered
• Develop an action plan and timetable for completion
• Determine the cost to accomplish the assignment