When we evaluate a compensation package for an employee we look at
- Length of service
- Position within the business
- Current salary
- Full-time / Part-time
- Competitor pay rates
Sounds daunting doesn't it!
Let our Compensation & Benefits specialists do the research & make recommendations.
SME Advisor gathers data, internally and externally, on the roles in an organisation and equivalent jobs in other employers or sectors. Interpreting this data effectively is key in ensuring pay structures are both fair and competitive. Job evaluation and market pricing exercises need reviewing regularly to make sure they continue to meet changing business needs, jobs and work.
Rewarding and recognising your employees can go a long way to enhancing the behaviours and culture within the business. A simple “Thank You” can create positive energy, small gestures can promote employee loyalty. Recognising long service and celebrating achievements will enhance the positive energy. Develop greater work ethic and commitment.
Since automatic enrolment, the decision regarding workplace pensions comes down to how much the employer should contribute. Workplace pensions need to be continually reviewed in line with an ever-changing body of legislation. Employers should invest in effective employee communication and education, not only to meet legal requirements and ensure employees understand their pension and retirement options and the decisions they need to make, but also to raise awareness of the value of the benefit being offered.