Incentive Compensation Practice
Strategic Thinking: Creating Competitive Pay for Employees and New Hires?
Our compensation consultants gather industry driven data, that aids in creating accurately the market price of each job function and develop a process to make pay decisions with confidence, and to help boost retention and hire more effectively. The results speak for themselves, our clients improved their average retention rate by ~16% YoY, and job closure rates have improved significantly, ~39% per open headcount.
Transparency: Preparing Clients for Pay Transparency and Alleviate Concerns of All Stakeholders?
Transparency in pay structure across different organizational functions lead to cohesion and improved efficiency. Our consultants can help you identify outliers, resolve pay disparities, and implement compensation practices and policies that are consistently administered across your organization. We also help you develop training and communications strategies to answer difficult questions and manage expectations at all levels of the organization.
Management: Developing a Comprehensive Compensation Management Strategy?
Managing compensation strategy in different geographies is never easy, instead of deploying a reactive approach to compensation, our consulting team will help you design and implement a compensation strategy and programs based on your organizational goals and unique business environment. Our compensation consultants will work with you to enhance the strategic value of your pay programs and design benefit packages that deliver a clear competitive advantage while containing costs.
Incentive Plan: Creating an Employee Incentive Plan?
Incentive plans in most cases are divided into two buckets, company and individual performance guide these programs under set conditions. Our consultants will partner with you to understand business objectives and design long- and short-term incentive programs that inspire employees to achieve their goals and deliver results. Our team of experts also help in building sales compensation plans, that are directly tied to individual and group performances and in many cases are spread across different geographies.
Hierarchy Driven Job Titles: Creating a Consistent Framework for Job Titles and Descriptions?
Hierarchy driven job titles are usually implemented in bigger organizations, and for small to medium size companies, titles are usually not tired to seniority. Our consultants can help you streamline your job design process. They will evaluate your organization structure and make recommendations that will have a significant impact on pay transparency, and employee engagement.