Is your compensation structure equitable and working to secure the talent you need?
A well-designed compensation structure is a strategic advantage.
Employee pay is the single largest expense for most businesses. To manage this effectively, aligning your total rewards to the overall strategic goals of your organization is essential. KMA can partner with you to develop a rewards program that’s competitive, equitable and above board.
Our consultants can evaluate your overall position and develop a compensation strategy for resolving disparities and achieving your workforce and business objectives. We believe transparency is key and recommend an internal communication plan regarding compensation changes and policies.
Compensation structure design
We will work with you to define (or refine) your organization’s internal salary ranges or pay grades.
Learn more about Compensation Structure services
Pay equity assessments
We can conduct a pay equity assessment to measure compensation differences within your organization, determine your level of risk, and provide recommendations for resolving inequities.
By reviewing external labor market data, we can determine the competitive market-rate of any individual job, or provide analysis for all the positions within your company to determine overall market competitiveness.
Benefit and compensation surveys
Competition for talent is fierce, and the benefits package you offer is a key area of differentiation. Our customized surveys can provide clarifying data for your niche market, as well as targeted research into a particular set of benefits.
Performance and merit review process design
Establish a process and/or analysis for rewarding and compensating your employees based on their performance.
Variable pay – incentive and bonus
From plan creation to metric development, including calculation files, we can help you develop a variable pay program that rewards your employees for helping to achieve your organization’s goals and drive business success.
Maximize your competitive advantage through an executive compensation program designed to draw in leaders who are best matched to drive performance and help your organization achieve its business goals.
Job description development
We can develop comprehensive job descriptions designed to attract the appropriate candidates and allow for accurate market data to be collected for compensation ranges.
Not only is your total rewards management important for acquiring and retaining high quality, motivated employees, it’s one of the most effective ways to incentivize the behaviors that drive productivity and success.