A Closer Look at The Client Needs and Goals

Elevate Results Consulting recently undertook a Compensation Analysis project for a client facing challenges in their approach to employee compensation. Many organizations typically address compensation only twice a year, during annual budgeting and when providing increases, raises, and bonuses.

The client approached us seeking a more strategic and market-aligned strategy for compensation, especially when grappling with issues like employee departures or challenges in attracting key talent. They were particularly concerned about the effectiveness of their compensation design and sought additional ideas to structure and improve it.

Elevate Results Consulting specializes in delving into the intricacies of compensation structures, thoroughly reviewing data, understanding organizational structures, and applying a meticulous process to address these concerns.

Actions, Tasks, or Strategies Initiated to Achieve Success

After reviewing the objectives for the client along with all expectations, limitations, current resources, and any possible obstacles, Elevate Consulting Results took the following approach to create a plan for success.

(1) Understanding Current Compensation and Organizational Structure:

    • Conducted a comprehensive analysis of the client’s current compensation structure.
    • Examined the organizational hierarchy, understanding reporting relationships, and assessing the impact on compensation levels.

(2) Data Collection and Job Descriptions:

    • Gathered detailed compensation data, including employee salaries, bonuses, commissions, etc.
    • Requested and reviewed job descriptions for various positions within the organization.

(3) Alignment and Comparison:

    • Aligned job descriptions with accurate roles based on job duties, levels, and industry standards.
    • Provided the client with multiple options to find averages and compared these with their existing compensation structure.

(4) Client Collaboration and Reporting:

    • Engaged in collaborative discussions with the client, presenting a detailed report on the compiled compensation data.
    • Shared insights on the origin of the data, the methodology used, and the rationale behind the numbers.

(5) Execution Strategies:

    • Advised the client on executing changes based on the provided data.
    • Explored ways to increase employee compensation and addressed scenarios where overpayment might be occurring.
    • Discussed variable compensation structures and relevant data points for decision-making.

(6) Addressing CEO-Employee Compensation Discussions:

    • Worked with a CEO facing persistent employee requests for raises.
    • Recommended a strategic approach involving board approval for decisions related to employees reporting directly to the CEO.
    • Emphasized the importance of creating the perception that the CEO required board approval, providing the CEO with the necessary time and space to consider decisions thoroughly.

Results of Work Completed and Lessons Learned

The Compensation Analysis project yielded valuable insights and actionable recommendations for our client. The implementation of data-driven changes and strategic approaches resulted in improved compensation structures. Lessons learned from the CEO-employee compensation discussions highlighted the importance of effective communication and creating space for thoughtful decision-making.

In conclusion, HR Consulting goes beyond data analysis and compensation adjustments, contributing significantly to the overall accountability and effectiveness of an organization.