Compensation Consulting Services

No matter the industry, smart employers realize that having an effective compensation strategy and total rewards program is essential. You need to ensure your pay levels are competitive enough to stand out in a crowded job market to attract, engage, and retain the talent your organization needs. By prioritizing the people that work for your company, you strengthen not only your employee base but also your business.

OperationsInc combines our extensive knowledge of the marketplace with top leading data resources to help you develop an optimized compensation plan. Our independent team of experts can also support you in any compensation-related decisions to help you win over the best candidates.

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Expert Compensation Consulting Services

Total rewards and compensation programs make up the majority of an organization's operating expenses. To get the best return on investment, you need a strategic compensation plan that meets your business goals while improving the employee experience.

In addition to creating a winning strategy for your employees and your business, leveraging a neutral team of compensation experts can bring significant benefits to your organization:

See results faster with a team of dedicated consultants who focus on your issues without distractions.

Get unbiased solutions to your issues with alternatives that truly benefit you.

Leverage the experience of a compensation professional who has worked with firms and non-profit organizations across industries and of all sizes.

Allocate compensation resources efficiently with the expert advice of your consultants.

Get support when you need it with a variety of compensation consulting services that scale as your business grows.

Developing a Strategic Compensation Plan

Building a competitive compensation strategy is critical to securing new talent and retaining your existing employee base. Without an effective plan, businesses risk overspending or losing employee engagement. A comprehensive compensation plan includes everything from base salary and incentive programs to executive compensation, benefits, and total rewards. Your compensation consultant can help you develop this strategy by using HR analytics to improve your talent outcomes.

They will work as an extension of your team to:

Communicating your Compensation Plan

By clearly communicating your compensation strategy to your employees, you set their expectations about compensation levels, motivate them to increase productivity, and boost morale with the benefits and rewards offered.

For employers, pay transparency helps your company build an environment of trust and honesty. When employees understand they make a fair wage for their work and there is no secret around pay, productivity and morale are likely to increase. Pay transparency promotes a good reputation and culture of inclusivity for your business.

The first step in communicating your program is to identify your organization's key messages around policies, including any changes that have been made. OperationsInc will work with your team to identify these messages, then draft a compensation philosophy explaining the "why" behind employee pay levels. This document also serves as a framework to provide consistency moving forward.

Next, we'll coach your leadership team to effectively deliver your message, including the best means for clearly explaining all components. We'll document exactly what's covered in the new compensation plan and role play how managers should communicate it with employees.

All of this information, both about the alterations and the program itself, is consolidated and presented in a compensation handbook. That way, managers and employees have a clear reference should any questions arise.

Compensation Consulting Services from OperationsInc

Compensation practices, needs and strategies vary widely across employers and, on a granular level, employee groups. OperationsInc offers a comprehensive array of specialty compensation consulting services to ensure that your business has the right support and expertise. From developing salary ranges and job descriptions to analyzing pay equity, our team of experienced consultants can help you in every aspect of employee and executive compensation. 

Our wide range of services include:

Salary Benchmarking

Our team uses top data resources, as well as our own internal knowledge of the marketplace, to help you create and communicate compensation ranges that position your firm competitively for your industry and location.

Compensation Strategy and Plan Design

Our compensation experts assist your firm in developing a highly effective, cost-efficient employee compensation plan.

Total Rewards Assessments

The OperationsInc team will audit and evaluate your total rewards and compensation strategies to gauge how competitive they are compared to the market.

Sales Compensation Design

For large or small sales teams, we'll help you optimize compensation structures and incentive timing to meet your growth goals. Our strategic guidance combines market research, trends and best practices, and unique modeling tools to deliver the most effective programs.

Short- and Long-Term Incentive Plans

We'll develop short- and long-term incentive programs to help you improve your recruitment and retention goals while aligning employees with company objectives.

Custom Salary Surveys

Leveraging our extensive network of clients, our custom salary surveys provide you with independent, expert data to support a competitive compensation strategy.

Salary Administration

Our team will provide the framework for compensation initiatives through competitive benchmarking, salary structure development, and documentation.

Total Rewards Statements

We help you develop personalized statements for each employee that communicate how much they are getting paid and why.

Compensation Communication Strategy and Execution

We can assist your firm in effectively communicating compensation programs to candidates during the hiring process as well provide guidance on techniques for effectively communicating programs and changes to current employees, including coaching for managers.

Pay Equity Analysis

Our compensation experts help you audit and assess your employees pay compared to other employees with similar jobs to identify and address pay gaps.

To learn more about OperationsInc and our compensation consulting services, contact us.