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High
Cost of Turnover Getting you Down?
Are market
demands requiring that your organization develop a more flexible
workforce? Is your organization interested in reducing overall
costs by improving skills, knowledge, employee commitment and
efficiency? Are you interested in getting more for your money?
Sounds like
it might be time to evaluate your existing Compensation Program.
Market
Studies
Considering
market pressures is particularly important when an organization
faces today's labor markets. Studies can be instrumental in
determining market lines, entry-level rates, compensation ratios
and competitive wages for highly skilled positions. Bee Tree
can research, secure and analyze market data within your industry
and recruiting area. This
information can be used to provide you with a comparative analysis
of your organization versus your competition.
Base
Compensation Structure
Is your
Pay System driven by Performance, Skill, Knowledge, and Ability?
Is it Competency based? Is it an earned benefit or an entitlement?
Is there a formal structure that ensures internal/external
equity, equal pay, career-paths, classification levels, entry-levels,
mid-point and maximum rates of pay for each classification?
Does your organization have a written wage and salary procedure?
Do you have the capability of costing/ budgeting your pay
program annually? Do you have a good defensible measuring
tool in place?
Bee Tree
Consulting has been providing organizations like yours with
Compensation Design for years. We know what it takes and can
help you get it!
Why
provide a Variable Pay System?
Variable
pay systems are intended to reward workers for performance beyond
normal expectations.
- Some
jobs contribute more to the organizational success than
others do.
- Some
people perform better than others do.
Is
your organization interested in linking growth in compensation
to results? Perhaps a form of variable pay such as team bonuses,
incentive plans, or organizational gain-sharing programs are
your answer.
- Should
performance be measured and rewarded based on individual,
group, or organizational performance?
- Should
the length of time to measure performance be short-term
or longer term?
Over half
of all variable pay plans achieve their organizational and performance
targets. Those that don’t haven’t properly considered
the organization's culture, objectives, individual needs/desires
or financial resources. They may also not have the appropriate
measurement tools in place to reward variable pay incentives.
Administration
Bee Tree
Consulting Plans are designed to be simple to understand and
simple to administer. Final structures come complete with
easy to follow instructions and spread sheets.
Behavioral
Aspects of Compensation
Do workers
perceive they are receiving fair value for their overall performance?
Independent Employee Opinion Surveys can often identify performance
problems or deficiencies with root causes that are tied to
equity, procedural or distributive justice issues. These types
of employee concerns don’t always mean a new compensation
program is necessary. Bee Tree specializes in confidential
Employee Opinion Surveys. We also specialize in designing
performance systems that tie directly to compensation structures.
How
does your Compensation measure up to Legal Constraints?
Fair
Labor Standards Act
Minimum
Wage
Exempt/Non-Exempt
Testing
Computer
Related Occupations
Overtime
Provisions
Compensatory
Time Off
Home
Work
Independent
Contractor Testing
Equal
Pay Act
State
Laws
Garnishment
Laws
Prevailing
Wages
Davis
Bacon Act
Walsh-Healy
Public Contracts
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