Understanding the competitiveness of employee pay is your company's first step to improving retention and engagement of critical talent.
1. Know the ideal pay levels to attract the right candidates while maintaining fiscal responsibility.
2. Position your company’s pay philosophy to obtain an advantage among your competitors.
3. Obtain information to update missing or outdated pay policy or structures for your employees.
We have a simple 4 step process to ensure a solution that best fits your company: Diagnose, Design, Execute and Adapt.
1. DIAGNOSE: We begin with discussing your current pay philosophy and competitors to determine the best sources of market pay information.
2. DESIGN: In the next step we coordinate information with survey sources, obtain data, and interpret results to fit your needs.
3. EXECUTE: This is when we create reports and/or tools that your company can use to understand how your employees are paid in comparison to your competitors. We also help you formulate a strategy to adjust pay levels over time in accordance with your budget.
4. ADAPT: Compensation needs are always changing. We create a plan to ensure your pay levels stay competitive in the future.
The estimated duration and cost of the project will depend upon the number of market data sources and number of jobs to be included in the study. Most engagements are 4-6 weeks, but can be as short as a couple of days, if only a few jobs need to be evaluated.
We use proprietary tools and methodologies to evaluate the effectiveness of pay programs and provide bespoke recommendations on improving base pay, bonuses, short-term incentives and long-term incentives, including executive and broad-based equity compensation plans.
Dan Walter, CECP, CEP is the President and CEO of Performensation, a leading independent compensation consulting firm.
He is passionately committed to aligning pay with company strategy and culture and has been deeply involved in equity compensation for a long, long time. The team at Performensation has been described as the firm that does "unusual compensation for usual companies and usual compensation for unusual companies". In short their focus is on using the alignment of pay with company culture and strategy to both support and drive success.
Performensation uses proprietary tools and methodologies to evaluate the effectiveness of pay programs and provide bespoke recommendations on improving base pay, bonuses, short-term incentives and long-term incentives, including executive and broad-based equity compensation plans.
Dan is a well published industry thought leader. He has co-authored ”Everything You Do In Compensation is Communication”, “The Decision Makers Guide to Equity Compensation”, “Equity Alternatives” and a few other books. You can follow him on Twitter at @Performensation and @SayOnPay.
Sam Reeve, CCP, GRP, is the Head of Consulting Services at Performensation. His core focus is leading companies through transformational change by optimizing talent initiatives with reward programs to achieve long term strategic objectives. Sam’s diverse experience includes the design and optimization of performance driven variable compensation plans for executive, sales and core employee populations of growing companies.
Prior to joining the Performensation, Sam has worked in compensation functions of notable firms such as BlackRock, McKesson and Automatic Data Processing (ADP). Sam is a global certified compensation consultant (GRP, CCP) with over 15 years of experience in Total Reward Strategies.