Compensation
Compensation Consulting
Compensation is a major factor in attracting and retaining top talent. It is also one of the largest expenses for any organization.
The effective development and administration of a corporate compensation structure requires a delicate balance between the pay levels for employees and the pay levels those employees could command in the industry’s recruiting markets. At CCI Consulting, our compensation services use data-backed salary surveys and market research to develop a strategic approach to compensation, enabling organizations to not only attract the best talent but also to motivate and retain them.
Balancing the Scales: Internal and External Equity
Data-Backed Information: Salary Surveys and Compensation Studies
- “What do your employees make compared to the market?”
- “Are all your managers compensated within a reasonable salary range for their expertise and experience?”
- “How does your company benefits and perks package measure up relative to your competition for the same talent?”
- “Are you required to offer work injury compensation?”
- “What are the main corporate compensation offer drivers for your industry?”
Salary Benchmarking: Get insights into how your employees’ salaries compare to industry standards. We gather data from the local industry, ensuring your organization’s pay scales align with the market so you can stay competitive when it comes to talent acquisition.
Broadbanding Pay Programs: We are experienced in designing, implementing, and managing executive and employee broadbanding pay programs. We work closely with you to develop exhaustive compensation structures that create the foundation of your payment decisions.
Market Pricing: CCI Consulting provides precise market data by utilizing industry-leading compensation databases. This data is not a one-size-fits-all solution. Our experts customize it to account for your compensation philosophy and goals, as well as additional benefits packages and geographic locations.
Strategies Aligned with Your Goals
Our primary objective for compensation consulting is to help you evaluate your existing pay structures against industry and regional market pay data. Based on these insights, we make data-based recommendations for strategic adjustments, ensuring your compensation packages measure up to what is required to attract, motivate, and retain top talent in your industry.
Compensation is not just about paying employees. It is about investing in your organization’s future. Our compensation consulting services go beyond the numbers; they are about creating a compensation strategy that resonates with your organization’s mission, vision, and values.
Partner with CCI Consulting for Compensation Excellence
Staying competitive in talent acquisition is non-negotiable. CCI Consulting has the expertise, experience, and resources to help you develop a framework for your corporate compensation offer decisions.
Elevating your compensation practices allows you to attract and retain top talent, securing your position as an industry leader. Contact CCI Consulting today at 866-836-3032 to explore how our compensation services can take your organization to new heights.
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Case Studies
Challenge
A food manufacturer with 880 company-owned sales routes had been experiencing significant growth organically and through acquisition. Challenges included high turnover, new geographic territories, and the need to attract quality employees for sales routes. The company also expressed interest in developing a compensation philosophy and a more structured approach to overall compensation including pay bands and guidelines for salary actions company-wide.
CCI Approach
Based on input from the client, CCI created survey parameters and survey specifics, closely matching the geography. For best results, CCI utilized two salary survey databases, Economic Research Institute (ERI) and CompAnalyst for market data. CCI delivered survey results showing company location, survey locations, median and mean salary (market value) of each location, and survey incentive percent of base.
Results
Using the survey data analytics tool, the client was able to gain insight into the different perspectives and experiences based on tenure, location, function, etc. These insights were used by leaders at all levels of the organization to formulate actions designed to leverage best practices and address the areas of most significant concern. As a result of the survey and the action planning that followed, the client was able to make significant strides in more fully and effectively integrating the previously disparate businesses.
Learn How CCI Can Help
We welcome the opportunity to connect and support you across a broad range of all your talent and HR needs.
