Considering all Human Resources activities, Compensation & Benefits holds a very central role
The complexity of this field, and the constant evolution of practices, are making compensation & benefits the most interesting field to be dedicated to. Thanks to the expertise we are offering, Compensation & Benefits is also a fantastic opportunity to add value to any company.
It is first the most important cost factor of today’s companies. Compensation and related personnel costs represent easily more than 50% of the overall operational costs of any company nowadays. Considering those amounts, do you consider compensation and salaries as an expense or an investment?
Compensation is an essential part of any work contract, and is often the subject to intense discussions or negotiations. Do you know well enough the market practices in compensation? Are you completely at ease when you propose a salary to a candidate?
Compensation is often used as a way to measure the importance of jobs and employees, associated with the development of very strong feelings of equity or inequity. Are you well positioned to defend your current salary structure? Can you explain satisfactorily the salary differences among employees?
Compensation is also a way to direct the behaviors towards more performance. In this context, we can often see the flip sides of the same coin: rewarding the good performing individuals, while, at the same time, punishing the non-performing ones. Are your compensation schemes motivating your employees towards better performance?
Finally, compensation is the compound of a lot of different elements, from base salary to stock options and pension. In your company, do you maximize the positive impact of all those elements?
Compensation & Benefits
Point by point
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- With inflation picking-up, in which C&B element is it best to invest?
- Is your compensation strategy becoming obsolete because of business evolutions?
- You are wondering if you could not save money without cutting jobs?
- Do you wonder if your different pay elements are aligned with your business(es) strategy?
- You want to have clear benchmarks for all your pay elements vs market practices?
- Is it important for your company to have an international perspective on compensation?
- Do you need a facilitator to put together a compensation strategy?
- Do you need to cut costs, but it’s not clear to you where and how you should do it?
- Is it difficult to compare positions in different areas of your organization?
- Did you think that a job evaluation system would be much too complicated for your company with 50 employees?
- Do you want to create a job hierarchy, but you’re afraid of those big and complex methodologies?
- Are you unsure if you need to treat two positions differently in terms of base pay?
- Your company created a new business and you’re not clear if the new jobs are at the same level as the ones in the main business?
- You just acquired a company, and you are puzzled on how to integrate their job into your structure?
- You know that two positions should be paid differently, but you wonder by how much?
- The recent merge creates issues in job matching?
- Internal equity is a priority for you, and you need to review your current base pay structure?
- You wonder if the span of your salary classes, and the overlap between them is correct?
- You want to assess the competitiveness of your salary structure?
- Your company has been growing, and it’s now time to put some salary structure in place?
- You have more and more debates internally about the difference in salaries for people in comparable positions?
- You have retention issues, and attracting new people is not easy either. Are you sure it is not a salary issue?
- You wonder what is the best way to compensate for inflation?
- Your salary review is taking too much time and you want to streamline the process?
- The way you increase base pay is not in line with your strategy?
- The Merit increases you distribute do not motivate your employees?
- You’re wondering how to account for very different inflations rates across geographies?
- Your salary review system is slowly but surely driving your base pay structure out of the market?
- It’s not easy to use the output of your performance appraisal system to decide on Base Pay increases?
- You wonder if you should not introduce a bonus system to boost organization’s performance?
- You are not convinced to have a high return on investment with your bonus system?
- A lot of employees do not really understand how the bonus is calculated?
- Your sales force is adopting behaviors that are not productive on the long run?
- You think you have a great bonus scheme, but this year, your budgets are not achievable, and everyone is demotivated?
- You are facing a significant crisis in the business, and your bonus system is becoming worthless?
- You are not sure if you should incentivize individual or team performance, or both?
- You work in a non-publicly traded company, and you always thought it was impossible to have stock options?
- You need an employee retention tool, but you heard that stock options or restricted stock are too complex?
- You wonder if you should not introduce a cash restricted award?
- The share price didn’t move up since years, or moved down, and your stock option plan is less and less attractive?
- You want to find a way to make visible to all employees how much the company is investing in benefits?
- It does not make sense to you to give the same benefits package to a 25 years old single employee, a 40 years old person with 2 kids, and a 55 years old who want to prepare his retirement?
- You want to find a way for the employees to understand and decide on benefit package based on their needs?
- You thought that a flexible benefit plan was an administrative nightmare?
- You are not clear if you expat policy is competitive or not?
- Is it worth investing that much money in an expat program?
- You had no formal expat program in place but you want to formalize a policy for the future?
- You need an external expertise to revisit your expat policy?
- You are struggling with the net-in-the-pocket calculations, accounting for cost of living, housing, schooling, etc…?
- The distinction between a package for an expat and international hire is fuzzy?
- You want to offer to your management a pension that is innovative and fiscally very interesting?
- You always wanted a pension system where the full return on the invested capital would be paid the participants?
- What about paying your mortgage interests into your pension, instead of a sunk cost to your bank?
- You desire a maximum of flexibility in the way you define your risks coverage in your LPP?
- Your funding ratio is low, and you want increase it and get rid of the longevity risks?
- Why wouldn’t you have your own LPP fund, independently from your size and above all, without impact of potential claims on your premiums?
- The mortgage lever is something you would like to introduce in your pension?
- You are frustrated not being able to define your own investment strategy of your own LPP funds?
Analysis & Verification
With our expertise as expert in equal salary practices, we can help you comply with the new Equality Law requirements, and beyond.
With 25+ years of HR experience in large/medium sized companies, we can provide solutions to almost any HR issue.