Companies need to structure their base pay levels to attract and retain key talent, while maintaining internal equity among the troops. Total compensation and rewards management is critical in Private, Publicly traded, and Non Profit companies. Salaries and hourly pay represent a fixed cost and are typically an organization’s largest expense (investment). These need to be managed to provide a solid return on investment. For over 25 years, LTC Performance Strategies has provided executive and total compensation consulting, helping hundreds of clients design simple, market-based programs that are externally competitive, internally equitable and easy to understand and administer. Our base pay services include:

  • Development of Compensation Positioning Strategy
  • Clarification of Roles
    • Job Description Development
    • Mini-Job Profile Development
  • Development of Survey Benchmark Compensation Reports
    • 1 role to 100s of Roles, from Multiple Survey Sources
    • Customized to the Organization’s Size, Location & Industry
  • Leveling of Roles Across Organization
    • Based on Market Comparisons & Internal Equity
  • Development of Alternative Career Paths
  • Establishment of Pay Structure(s) & Associated Ranges
  • Development of Objective Tools For Allocating Merit Increases
  • Considerations for Fine-Tuning and Moving Forward
  • Integration of Associated Communications & Training

 

 

Challenge: Compensation administration in total chaos; approximately 600 titles for 813 employees; 303 job descriptions for 111 incumbents; no descriptions for 338 roles

Solution: Clarified roles and created simple, market-based programs; provided tools, guidance, and communication support

Results: Turnover plummeted; morale improved dramatically; excellent buy-in at all levels.

 

Compensation is typically an organization’s greatest (investment) expense.

 

 

 

"Created a simple and defensible base compensation program; trust/ buy-in from the organization improved dramatically; turnover dropped significantly."
Lynda Thomas
Corporate HR Director
Technicolor