Compensation Consulting Services
The HR SOURCE provides a broad range of services to help you manage the strategy, philosophy and effectiveness of your compensation program. We can design a comprehensive compensation program for your organization that is aligned with your business objectives and flexible enough to change as your organization changes. Our consultants partner with your HR and senior executives to:
- Help you identify your compensation philosophy;
- Establish guidelines for compensating your employees competitively;
- Create variable pay options (i.e., bonuses, performance payments, spot awards, etc.) that allow you to reward your employees commensurate with the results they produce for your organization;
- Develop administration tools that user-friendly and easy to modify as your business needs change.
The HR SOURCE uses two primary approaches to compensation program development:
Customized Market Studies:
The HR SOURCE will conduct a comprehensive market study for your organization to assist you with determining your competitive position in the marketplace. .
Development of On-going Salary Administration Tools:
Once your market study is completed the our consultants will develop tools you can use to manage and administer your salary program each year.
We also provide:
- Job Pricing Services on a “Per Position Basis:” After an initial compensation study, organizations often create new positions and need to know a) competitive pay for the job or b) where the new position should exist in their salary structure. We offer job pricing packages starting with a minimum of five (5)position pricings per package, with discounts for purchasing additional multiples of five.
- Bi-Annual Market Assessment: this service is a “lighter” version of the comprehensive market study, providing you with current information on key market indicators that will assist you with establishing your annual pay guidelines.
