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By Creating a Total Rewards Strategy That Builds a Foundation for Sustained Success:
- Identifying competitor companies in your Industry, market segment and/or location for comparison to your own pay levels and overall total rewards plans.
- Working with your leadership team to determine your company's target competitive pay positioning (where do you want to target your salaries, benefits and incentive pay levels vs. the competitive marketplace).
- Determining the mix of pay components – salary, bonus and long-term awards, and how the components should vary across job levels.
- Identifying growth, profitability, efficiency, quality and customer performance metrics for your business and integrating them with your Total Reward programs. Additionally, cascading these "top-level" metrics down to "line-of-sight" performance measures so that employees at all job levels can understand how they contribute to your company's success.
- Ensuring your reward programs reflect your company’s values and culture.
- Outlining the full array of competitive benefit and work-life programs to become an "Employer of Choice".