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Compensation System Design - The Management Association
Professional Services
Compensation System Design
Attracting, retaining and motivating employees in today's business environment requires utilizing a host of tools including base pay, incentives, equity, performance management and benefits. Balancing these tools in an equitable, affordable and legal manner can present difficulties for even the most dedicated employers.
The Compensation experts at the Management Association are committed to helping employers develop creative, realistic and workable solutions to today's challenges.
No universal, standard program exists that will meet every organization's needs. In order for your total rewards program to work, it must fit the organization's culture and strategic initiatives. Our compensation professionals will work with your management team to implement a sound package that increases value to employees while respecting your budget and adding to your bottom line.
We'll help your organization sort through the many compensation challenges, alternatives and approaches found in your unique business environment.
"The Compensation Analysts at the Management Association were able to address concerns and fears expressed by our administrators and staff members whose positions were being evaluated. It was obvious to us that they have a high level of knowledge and practice, that the instrument they use has stood the test of time and is applicable across industries." - Nancy Pedersen, Assistant Superintendent of Human Resources, Indian Prairie School District 214, Naperville, IL
Compensation System Design services include:
- Determining the best total rewards philosophy for your organization.
- Reviewing your current compensation and benefits system to see how it compares to your labor market competition.
- Formulating effective communication strategies focused on the value of your compensation, performance management and benefits programs.
Base Pay
- Conducting job analyses and documenting job content.
- Developing systematic base pay structures.
- Using market benchmarking or job evaluation methods.
- Development of employer specific base pay strategies.
- Analysis of employee base pay to new base pay structures.
- Job description development.
Incentive Programs
- Developing motivating variable pay programs for production, office, management and sales employees that tie organizational strategies and goals to individual or team performance.
- Creating pay-for-performance systems including performance appraisal tools and merit increase guidelines.
Benefit Programs
- Assessing employees' satisfaction with your current benefits package through a Benefit Assessment Survey.
- Anaylsis of current benefit offerings and recommendation of effective benefit changes.
Project Proposal & Fees
A compensation consultant from the Management Association will meet with you to discuss the scope of your project, then provide a written proposal. Fees are based on project complexity and completion timeline.
Training
Our experts provide training workshops on compensation, benefit and performance management topics. Public classes are regularly scheduled and can also be presented at your facility at your convenience.
For More Information
To discuss how our compensation consultants can assist you in developing your total rewards package, contact Kathryn O'Connor, Sr. HR Director, Compensation Services, at koconnor@hrsource.org or call 800-448-4584.
Association Members:
In addition to many valuable members-only services included with your annual membership, member organizations receive significantly discounted pricing on all of our training, consulting and project work. For information on becoming a member, click here.
