STRATEGIC COMPENSATION
Most business owners do not have a good structure to their pay, or the structure is overly rigid and uniform, leaving little room for flexibility and strategy.
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Compensation is tricky, it's not only a huge line on your total P&L, but it's also one of the most important factors to your employees, as it has a direct connection to their motivations and work product.
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We help business owners understand what they can do to maximize their compensation efforts to more align with their employees, while also providing structure and efficiencies to the budget.
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Job titles are a description of their function
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Leveling should exist WITHIN each title
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Award new titles as roles & responsibilities change
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Reward benefits as performance and tenure rise
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Create longevity within your employees through consistent and meaningful benefits
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Introduce perks as short-term rewards and achievements
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Use the 9-box method to understand where your employees are, leverage this data for promotions and pay increases
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Note: Each business needs a different spread of employees within the 9-Box