Focus on your best Return on Investment – implement a Total Package.
Designing and implementing a Total Rewards Package for employees keeps your organization competing for the best and brightest people. Total Compensation or Remuneration Management is the one factor that most solidifies the relationship between employees, HR and the business strategy of an organization. Rewarding with Total Compensation Packages results not only in higher performance expectations but also in employee pride for being a part of a high performance organization.
Total Compensation or Remuneration is composed not only of monetary components, such as salary, incentives, commissions, bonuses, stock, and group benefits; but also the “soft stuff” – time off, training and development, career and job enrichment programs, and working environment. Creating and helping you implement the right fit for your organization is our job.
EMEND offers the following services:
Total Compensation
When designing a total compensation program, an organization should consider the design benefits and challenges from each “individual” compensation component to the “entire” total remuneration package. Organizations must consider both the hard and soft costs associated with implementing direct cash and non-cash compensation programs vs. indirect compensation programs such as non-monetary rewards. Total compensation/remuneration management contributes to an organization’s overall business objectives by attracting, retaining and motivating employees. Total compensation strengthens the relationship between employees, HR and the business strategy of an organization.
Grade & Salary Structure
Not only does a pay structure integrate an organization’s internal requirements, it also enables a comparison to competitors in the marketplace. Job evaluation programs which link to grade and salary structures ensure internal equity and external competitiveness. Base pay often reflects the value of the work itself and the following factors affect the development of a pay structure: compensation objectives and techniques, job analysis and evalutations, market pay analysis and data, policy lines and pay structures, employee contributions, seniority or performance, merit guidelines, incentive programs, compensation planning, budgeting and cost of living or economic adjustments.
Strategy Development
The single most important function of HR is to ensure a competitive advantage through people. For any organization, strategic alignment is a key factor in achieving its business goals.
Developing effective HR / Compensation Strategies will provide an overarching perspective on the programs and initiatives that will ultimately attract, motivate, develop and retain your staff. Moreover, these strategies are designed to align with business strategies and ensure that employees are well equipped for the optimal performance required to meet your business objectives.