[seerox_wpdki_dyn_keywords default=”Compensation Management in the Caribbean”]
Our firm has an active consulting presence in the Caribbean. Specifically, in the Cayman Islands and the Turks & Caicos Islands.
What is Compensation Management?
When analyzing your Compensation Management, would you say that 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
Pay Equity
- Job Classes
- Job Class Gender
- Job Rate
- Job Evaluation
- Salary Gap Analysis (Job-to-Job or Proportional method)
- Pay Equity Audit Resolution
- Pay Equity complaints
Related Compensation Management Articles
Notes on CEO – Executive Director Salary Surveys
Overall Approach to Executive Compensation Surveys As an Adjunct Professor, Tim McConnell of our firm taught graduate courses in Compensation and Compensation Strategy in the Advanced Program in HR Management at the Rotman School of Management, University of Toronto...
Best Practice Tips in Salary Administration
Are you paying your employees properly? A simple question. Or not? How do you know what is fair in salary administration? Fairness has many sides to it. Your staff will get very irritated if you don’t get it right. Internal Equity – the relative worth of jobs...
Compensation Strategy Using Salary Surveys
Notes on CEO / Executive Director Salary Surveys (Compensation Strategy) Overall Approach to Executive Compensation Surveys As an Adjunct Professor, Tim McConnell of our firm taught graduate courses in Compensation and Compensation Strategy in the Advanced Program in...
Performance Management for NGOs
The main performance management dilemma when considering NGO Salary - To Pay for Performance or Not? NGO’s are non-governmental agencies. They include charities, professional associations and a variety of not-for-profit agencies. NGO’s tend to stay below the public...
