We offer benchmarking, structuring and presentation of the most compelling packages to attract a desired candidate.
Savvy companies know a well-structured compensation plan can help attract and retain talent. It’s a simple formula: To keep valued employees engaged and productive, compensation plans must be aligned, consistent and deliverable. Our goal is to help design and build a compensation plan that reflects the true value of employees.
We see this all the time: The classic example is an employee, performing well and receiving a 3% raise every year for three years. Over that time, the market has moved more quickly. Traditional plans are exactly that, traditional, and the market now calls for innovation and imagination in compensation plans. Otherwise resentment and disengagement can fester and employees start answering calls that they had previously refused to take.
All good compensation plans start by laying the groundwork by getting executive buy-in and aligning the organizations resources with business goals. If the goals are aggressive for growth, the incentive plans needs to be as well. Too many times internal guidelines stifle creativity in a senior executive's plan. All plans need conformity at some level, particularly for compliance reasons, but there are elements (signing bonuses, super achievement incentives) that can flex based on specific circumstances.
We rely on a variety of market data sources as well as our own industry insights. Whether it is in Fairfield County CT, or Los Angeles California we use the most relevant data available as a guide in compensation planning.