What is Compensation Management?
Are you paying your employees properly?
Our firm deals with the most complex and sensitive issue in Human Resources that employers face today. Organizations struggle with controlling labour costs while at the same time providing Compensation Management programs that are competitive in the marketplace, attract and retain skilled employees, and are considered equitable within the organization.
Compensation management requires a tight balancing act between meeting the needs of employees for competitive salaries and internal fairness, as well as being conscious of budgets and the bottom line.
McConnell HR Consulting solves this dilemma. We assist clients by providing customized, strategic compensation management consulting that links compensation to individual and organizational success.
Our Compensation Management services include:
- Compensation and Total Rewards Strategy
- Job Analysis/Position Profiles
- Salary Administration and Classification
- Base Pay Structures
- Statistical Analysis
- Job Evaluation
- Pay Equity
We provide a variety of Compensation Management Services, including:
Compensation and Total Rewards Strategy
- Development of a total compensation strategy
- Determination of a complete rewards and recognition program
- Learn more about Compensation Strategy
Job Analysis / Position Profiles
- Documentation of work activities, behaviours and skills
- Development of position profiles for recruitment, orientation, performance management, and compensation purposes
Salary Administration and Classification
- Assessment of the validity of existing programs
- Determination of ranking and the internal value of jobs
- Alignment of jobs to a pay structure
- Evaluation of the competitive market values in your business sector
- Establishment of market position
- Outsourced job evaluation services Statistical Analysis
- Development of regression analysis of pay data for internal equity
- Identification of pay inconsistencies
- Assessment of policy line relative to the market
- Learn more about Salary Administration
Base Pay Structures
- Design of base pay and salary range
- Determination of guidelines for administering salaries based on performance and competencies
- Learn more about Performance Management
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