Total Rewards & Compensation
Total Rewards Strategy
Job Descriptions
Job Evaluation
Base Pay and Salary Administration
Salary Surveys and Market Pricing
Pay for Performance
Variable Pay (Incentive) Plans
- Attract and retain key employees
- Meet goals
- Increase productivity and profitability
- Encourage and motivate involvement within the organization
- Management Incentives
- Broad based Incentives
- Sales Incentives
- Executive Incentives
- Long Term Incentives
Perquisites
Recognition Programs
Total Rewards is a major factor in retaining, motivating and attracting employees. Prior to determining base pay and other compensation programs, a total rewards strategy, based on your business plan and cycle provides the consistency in HR programs that retains, attracts and motivates employees. Once this is addressed, the total reward programs can be designed and delivered, linking back to the total rewards philosophy.
Rosson & Gordon can develop a total rewards strategy for your organization and assist in the delivery, documentation and communication of the strategy and/or the specific reward programs.
A job description (position profile) is the foundation for determining pay for the position. Job descriptions have several uses but are useful when benchmarking positions in the market place or when determining job worth of a position within the organization using a job evaluation system. A job description can be used for recruitment, performance, job evaluation, development and should identify the major accountabilities and responsibilities of the job into a simple tool that is easy to read.
Rosson & Gordon can provide you with a simple tool for ensuring the important concepts of a job are captured, documented and translated into a job description that is easy to use but contains relevant information. We can also capture the job data in a job information questionnaire (JIQ) that can be completed by the employee or manager and in turn can be used to populate the Job Description.
Job evaluation establishes a job's internal relative worth to an organization by measuring a position's duties against pre-determined factors. This enables organizations to compare jobs fairly and consistently within an organization. There are several basic approaches to job evaluation; however, the outcome is usually very similar: different levels for different jobs.
Rosson & Gordon can assist you with your current job evaluation program, or work with you to develop a job evaluation program. We provide a system that has a "turn key" approach that you can use on your own on an ongoing basis and we provide necessary training internally to the employees that are responsible for maintaining the job evaluation program. Alternatively, we evaluate the jobs for you and provide the company with a finished product.
Pay structures are tools designed to be internally fair, externally competitive and cost effective - all in support the organization's compensation strategy. Pay structures group jobs of equal value together. The goals of a successful base pay program will be consistent with your compensation strategy, perceived as fair within the organization, used to attract and retain employees, and easy to administer.
Rosson & Gordon can achieve an affordable and workable base pay structure. We establish salary guidelines, which can be used on an ongoing basis and can be linked, if desired to employee performance and/or behaviors. We assist with adjusting annual salaries and salary ranges. We can provide you with a process to perform this annually. Typically, spreadsheet software or salary administration software is used. The salary schedules can be updated by adjusting the middle value or midpoint of the highest grade in each schedule.
A major goal of a competitive compensation program is to provide compensation that is consistent with the organization's external labor market. This would be to maintain external equity by paying employees salaries and benefits at pre-established levels in relationship to salaries paid to similar employees in competitor organizations.
Organizations use wage and salary surveys to provide them with the primary data for use in pricing jobs. Therefore, it is necessary to identify reasonable surveys, which will provide data to accurately price the jobs, and ensure that jobs being priced are a valid comparison to the survey position.
Rosson & Gordon can conduct market studies, which will provide competitive data for identified benchmark positions. To establish the competitive market levels, we use data from a variety of resources including information on positions among comparable organizations, information available to the organization, published surveys and Rosson & Gordon's network of contacts and confidential data sources. We conduct a detailed analysis of the compensation currently paid to your employees. This compares the market information we obtain, and identifies the relationship of your jobs to compensation levels paid by competitors. This ensures the compensation program is competitive both internally and externally and is a positive retention and motivational tool.
Pay-For-Performance is a pay program which is tied to performance and provides small increases to most employees based on changes in the market, with larger, more meaningful increases granted to a limited number employees who have met and exceeded their results. Increases tend to be based on realistic performance evaluations with some employees not receiving any increases at all. Pay-for-performance pay increases tied to productivity and results rather than length of service and assist in achieving organizational goals. They result in greater job satisfaction and improve employee communication and teamwork.
Rosson & Gordon can design credible pay-for-performance programs that link your salary increases to the performance levels of your employees. This will motivate employees, reward those who are high performers and assist in achieving your goals and objectives that have a significant impact on the bottom line of the business.
Organizations use incentives to:
In order to achieve these goals, Variable Pay Programs focus attention on desired organizational results, tie pay to performance, provide "at-risk" compensation and provide a competitive total rewards compensation package. Variable Pay Programs may consist of short-term and long-term incentives.
Rosson & Gordon can evaluate existing variable pay plans and modify or design new programs tied to measurable financial and operational goals. This encourages effective planning, spotlights necessary actions and increases profitable business through focused performance. We can assist you with:
Other benefit programs are sometimes offered to employees that are known as perquisites or perks. Perks assist with employee recognition and ensure competitiveness within a marketplace. They are used as wellness initiatives or to maintain work life balance. These can include company automobiles, automobile allowances, fitness memberships or the sale of company products to employees. Regardless of the program, perks are growing rapidly in organizations and are commonly used as retention and motivational tools.
Rosson & Gordon can create programs that complement the existing benefit program and fit within the culture and strategy of the organization. We implement programs that motivate employees, and are both competitive and attractive.
Recognition is key to a happy and motivated employee. Organizations who emphasize the strong need for adhering to constant recognition have a more highly motivated workforce. Many managers tend to focus on the "bad" but pay less attention to the "good". Both managers and employees can learn about the pros of constant and continual recognition to increase motivation in the workplace. Recognition programs can be designed and easily delivered with a minimal investment. These programs can be extremely successful.
Rosson & Gordon can work with you to implement successful recognition program(s) depending on your organization's culture. We provide valuable and cost effective recommendations, which can be easily implemented and will result in increased motivation and happier employees.
