Compensation is often one of the key concerns of both entrepreneurs and seasoned managers. They often ask questions such as:
- How do I know if I’m paying competitive wages for the talent I need?
- What is the right combination of base and bonus?
- How should I respond to an employee asking for a raise?
- Should everyone get an increase each year?
- What is the right compensation structure?
Getting compensation right can take these concerns off the table. It allows the company to focus on its objectives and achieve its mission.
At GroHR, we can help you develop these key elements of a compensation strategy:
- Salary Surveys
- Job Profiles
- Salary Structure
- Salary Banding
- Company Pay Line
- Market Zones
- Company Population and Revenue Size
- Incentive Programs
- Compensation Mix and Weighting
- Annual Reviews
- Pay for Performance
groHR has developed compensation strategies and associated tools for a variety of company situations. Find out how we can help you. Contact us to get started.