Employee benefits are optional, non-wage compensation provided to employees in addition to their normal wages or salaries. A compensation program can help you effectively attract, retain and motivate employees. The program results in a fair payment for performance of a service in exchange for work.
Finding and keeping highly qualified staff that is the key motivator for implementing a compensation program.
Using fairness is a major factor to creating a successful compensation program ensuring that all employees of the business are being treated equitably.
Inequity or unfairness in the work place can result in poor morale and loss of efficiency. If employees feel that they are not being compensated fairly they may not work as hard or they may even leave the business.
One of the most problematic tasks our clients face is the question of compensation.
We can help you establish if your compensation programs are competitive with the marketplace and equitable among employees. We can assist you in determining if your compensation scheme is financially responsible and legally defensible.
We can review previous and existing policies to identify inconsistencies and overpayments.
Our consultants can assist you in the strategy and implementation of compensation programs that ally an employee’s performance with their compensation.