A personalized pay philosophy and approach. A unique, creative and tailored approach to pay that will reflect your values and culture and will guide pay design, decision-making and communication.
Ensure your offerings are competitive. You will know how competitive your organization’s pay is relative to the market and have a plan for how you want to approach compensating your employees.
Make pay decisions easier. A pay philosophy and structure eases administration and facilitates competitive and consistent decision-making for new hires, promotions and ongoing pay decisions.
Knowledge is power. You will have all of the information to make informed pay decisions. You can proactively make adjustments when you need to retain your employees and you will avoid making uninformed pay decisions that lead to costly mistakes by overpaying or over-hiring.
Improve pay perception. How employees feel about their organization’s approach to pay and fairness has a higher impact on job satisfaction that the amount they are paid. This work will set the foundation to ensure that your employees are not in the dark about how wage levels are set, whether they are competitive and if they are paid well.