Aligning Total Reward Systems to Your Strategy
To attract and retain top talent, organizations must strategically evaluate both the “how” and “how much” of their reward systems. This requires a deep understanding of employee motivation and a clear definition of performance expectations. We partner with clients to link roles, accountabilities, performance metrics, and effective management practices to create customized total compensation programs, ultimately optimizing organizational performance.
Salary Structure Development: Developing base pay structures and salary ranges that reflect job responsibilities and ensure competitive positioning within your target market.
Job Architecture Design: Structuring roles into clearly defined functions and job families with transparent career pathing frameworks that illuminate growth opportunities and foster employee development.
Market Assessment/Pricing: Understanding the competitiveness of your positions consistent with your industry, size and location by benchmarking your jobs to published surveys and databases.
Compensation Workshops and Training: Designing and conducting manager workshops to enhance their ability to make fair and consistent employee pay decisions.
Bonus and Incentive Plan Design: Crafting impactful bonus and incentive programs tied to corporate, business unit, and individual performance, giving employees a meaningful stake in achieving critical business objectives.
Pay Equity Analysis: identifying and correcting pay gaps through an internal analyses of employee pay to strengthen compliance, build trust, and enhance your employer brand.
Partnering with Wilson Group to create customized employee total compensation solutions means realizing benefits for your company and employees. You’ll sharpen your team’s focus on critical performance issues and deepen their commitment to success across your entire organization. This strategic alignment will significantly enhance your ability to compete and thrive in today’s dynamic marketplace.
Determining the Right Approach for Your Organization
The Wilson Group can identify what is needed for your variable pay programs to succeed. Our assessment tools and analysis can assist you in determining whether a variable pay program will have the desired impact on performance. We examine measurement systems, management commitment, performance management practices, culture and trust, and other factors that are essential for success. While there are many approaches available, our goal is to find what will work in your organization.
We help you find the balance between conflicting pressures. We serve as design experts, educators and facilitators for our clients. Our knowledge of – and ability to apply – tools, methodologies, best practices and frameworks are based on the experience of successful companies. As a result, we create high-impact variable pay programs, while helping clients develop their internal capabilities to manage and improve these programs over time.
What the Wilson Group offers for Variable Cash Compensation:
Assessment of current practices or conducting research of your competitor’s practices.
GoalSharing – a proven approach to developing variable pay plans.
Targeted key contributor or project based incentives.
Targeted stock option or equity simulator programs.
Variable pay for new ventures and spin-offs.
Creating Meaningful Ownership in the Organization
Equity Based Compensation Programs seek to create a sense of ownership, a stake in the long-term value of the organization or a tool to attract and retain critical talent. Further, companies use these programs to create a balance between short-term, operational results and long-term, strategic value creation. Ownership provides more than just a paycheck relationship with employees; it reinforces a mutual commitment to the long-term success of the organization.
Our objective is to help you develop a program that provides you with a strong competitive advantage and provide a clear “return on investment.” We understand the legal, administrative and organizational implications of these programs and we can help you realize the benefits that go with a renewed sense of ownership, commitment and understanding of what makes your organization successful.
Our consulting process will address three major stages:
Purpose – need assessment, key objectives, principles, award criteria
Design – equity vehicle, target value, terms, conditions
Plan Administration – plan approval, policy interpretation, on-going administration
Specifically, Wilson Group will work with your organization to:
- Identify the philosophy and key objectives for creating ownership and long-term commitment to the organization.
- Assess the effectiveness and competitiveness of existing programs in relation to your peer group, industry or other key competitors.
- Determine the guidelines and criteria to be used for these programs.
- Develop specific programs so they are as effective as possible in achieving desired objectives.
Building and Maintaining a Solid Foundation
An organization’s Base Salary Program is the infrastructure on which all compensation decisions are based. In the development of your Base Salary Program we will review critical components of your current practices, identify appropriate external benchmarks, understand relationships between job functions and levels, and provide a customized engagement that reflects your unique organizational needs.
Our objective is to help you increase employee perception of internal fairness and external competitiveness, optimize and effectively manage your fixed compensation costs, and provide flexibility and scalability to meet the changing needs of your organization.
Our consulting engagement will address four major elements:
Job Analysis – job descriptions, job classification, FLSA compliance, etc.
Job Architecture – the framework that defines the roles and responsibilities of employees
Compensation Structure – salary ranges, market data, competitive analysis, etc.
Salary Management – pay decision tools, salary administration guidelines, etc.
Our engagements can be designed to fit your immediate needs or integrate into the implementation of a fully HRIS program, such as an assessment of current program effectiveness, competitive analysis on key benchmark jobs, development of job descriptions or career path development, etc.
Specifically, Wilson Group will work with your organization to:
- Identify and document career paths to support talent management and advancement opportunities for employees.
- Establish a process to ensure internal fairness in pay and job responsibilities.
- Create employee understanding and acceptance of the compensation decisions.
- Develop customized tools for managers to utilize in recognizing employee competencies and performance.
- Develop market information to increase your ability to attract and retain employees.
An Organizational Tool to Better Performance
The development of a Performance Management program must be highly customized in order to create an effective, enduring, and successful system. In the development of your Performance Management program we will take the time to collect input from the users of the system, involve leadership throughout the process to ensure the new program meets the desired objectives, facilitate program development utilizing a design team to gain organization wide acceptance and commitment, and provide comprehensive implementation expertise.
Our objective is to help you increase management and employee accountability, enhance employee engagement, integrate the organization’s values into performance evaluations, and create alignment between individual, department and organizational goals.
Our consulting process will address three major phases:
Development of Performance Criteria – goals, factors, competencies, and ratings
Establishment of Performance Management Process – type of appraisal (single versus multi-rater), how feedback is provided, frequency of feedback, etc.
Development of Link to Rewards – linking appraisal outcome to rewards
Specifically, Wilson Group will work with your organization to:
- Identify and select the criteria that are consistent with the strategy and values of the organization and the employee group (hourly, salaried, sales, executive).
- Identify and select the technology “vendors” needed to support the program. (e.g., Promantek, Success Factors)
- Train and communicate the new program at all levels of the organization to enhance the application of the program.
- Align the performance management program with total rewards such as base pay increases, bonuses, recognition, etc.
- Acentech
- AdDaptive
- Agero
- Akrevia
- Aldridge Pite
- Allurion
- American Food & Vending
- American Association of State Compensation Insurance Funds (AASCIF)
- Animal Rescue League of Boston
- Aubuchon Hardware
- Aware
- BankNewport
- Blount Fine Foods
- Boston University
- Casco Bay Lines
- Catania-Spagna Corporation
- Catholic Charities of New Hampshire
- Central Transportation Planning Staff (CTPS)
- Citizens’ Housing and Planning Association (CHAPA)
- Columbus Vegetable Oils
- Connecticut Water Services
- Consortium for Energy Efficiency
- Copyright Clearance Center
- Darling Consulting Group
- Delta Dental of Rhode Island
- ecco
- Gordon Brothers
- Gulf of Maine Institute
- Harborlight Homes
- Howes
- Inline Plastics
- LifeStream
- Maine Water
- Metropolitan Area Planning Council (MAPC)
- Massachusetts Board of Bar Overseers
- Newport Restaurant Group
- Nashville Symphony
- Nebraska Public Media
- New Hampshire Public Radio
- Northbridge Communities
- Novanta
- People Inc
- PharmaLogic
- Pan Mass Challenge
- Rhode Island Public Radio
- Riverbend Community Mental Health Services
- Roche Brothers
- San Jose Water Company
- School of Rock/Youth Enrichment Brands
- Sonesta
- The Oncology Institute
- The Public’s Radio
- Web Industries
- Werfen