Talent Management
Customized Compensation Systems
We Design and Implement Customized Compensation Systems
MASCPA can assist you in developing and implementing pay strategies that meet your organization’s unique needs. It is our experience that a project’s ultimate success relies on buy-in from staff at every level of the organization. Our approach is highly interactive whereby we apply our expertise to assist your team from development through implementation. In partnership with your management team we will:
- Identify policy objectives
- Review and evaluation existing compensation and classification systems
- Analyze jobs relative to competitive markets for each position.
- Classify positions
- Benchmark and establish Compensation/Pay Ranges
- Implement a strategically aligned compensation system
- Train the management team how to maintain this compensation system
Project Work Plan
- A customized market based compensation program will be developed, using templates provided by MASCPA.
- The Human Resource manager or designee and a group of managers selected by your management team will be trained to apply the Compensation methodology. And, if desired by management, this group may become a standing compensation committee for the organization.
- All positions will be evaluated to ensure equitable job ranking.
- Market data will be obtained to ensure external equity of salary ranges.
- Jobs will be slotted in ranges appropriate to their values to job market comparisons using relevant survey data. Compensation ranges will be established, which will position the company’s salary structure appropriately compared to pay levels in the marketplace.
- A compensation increase allocation and budgeting spreadsheet will be developed to facilitate the salary budgeting process with department managers.
- Documentation for the compensation program will be prepared in MS Word and MS Excel to enable the program to be stored electronically and easily administered, maintained and updated.
It is anticipated that the total project for an organization with 150 employees or less will proceed over a period of up to 12 weeks, with a new compensation system implementation effective approximately 4 months after the start date of the project. During this time the MASCPA Consultant will facilitate weekly (two to three hour) working sessions with the Human Resources Manager or designee and the organization’s designated compensation team to develop the policies, plans and systems, facilitate discussions and input, and finalize documents. The MASCPA Consultant will also be doing work outside of the weekly working sessions to prepare templates, handouts, and conduct research.
Obviously organization size impacts the amount of time it takes to complete a project; therefore, scalable items in the attached project plan estimate may need to be adjusted upward for organizations with over 150 employees, or more than 24 unique positions, or more than 10 supervisors.