Compensation & Benefits Analysis

Your total compensation system is critical to how well you recruit, retain and engage your people. From an executive/management perspective, comp and benefit decisions are complex because they involve competing values: attracting great workers while at the same time keeping payroll costs within budget.

From an employee point of view, compensation is not simply a source of economic livelihood, but it shapes their perception of fairness, it becomes a component of job satisfaction, and it serves as a measure of job status when comparing themselves to other workers.

Why should your organization take an in-depth look at your total compensation and benefit offerings?

Your organization’s total compensation has a huge impact on your recruiting, retention, engagement, and your overall reputation.

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Steps to Alternative HR’s Compensation & Benefits Analysis:

Determine your comp philosophy and objectives;
Examine current positions, job descriptions, responsibilities, qualifications, and reporting structures;
Review current comp practices, including internal equity;
Analyze comp factors and comparable values;
Identify and study marketplace comp data that impacts your organization;
Recommend wage ranges for each position;
Help you implement selected updates to your organization’s comp and benefits system;
Provide guidelines for implementing, managing and adjusting the system going forward.

If your compensation is not attracting quality applicants or not keeping productive employees, give us a call at 605.335.8198. We’d be happy to work with you to discuss your comp and benefit needs, identify options and consider solutions!

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You don’t have to have an HR expert in your office when you have one, or more, in ours. Let us be the alternative to muddling through and doing it yourself.