Compensation Services
AE’s staff can work with you to evaluate and update your existing system using a mix of different programs or we can work with you to evaluate and design a structure specific to your needs.
We have the ability to provide:
- Flexible, cost-effective compensation solutions for every employer, regardless of size.
- Complete market comparison studies to assess the competitiveness of your current pay plan.
- Evaluation of jobs and establish equitable pay practices.
- Design and development of salary structures, effective merit pay/incentive plans and other compensation administration tools to provide guidelines for consistent pay practices as well as advance your business goals and engages your employees.
- Conduct customized salary surveys targeting specific markets.
Total Compensation Strategy
Job Descriptions:
The first and most critical step in designing a compensation plan. Job descriptions must be accurate in order to correctly evaluate each job, obtain accurate market pricing, determine job worth, and develop pay ranges. Job descriptions are also a tool for recruitment, selection, legal and regulatory compliance, training and developing employees, and communicating performance criteria.
Job Evaluation:
Associated Employers uses a systematic process for determining and comparing the relative value of jobs inside your organization. Each job is evaluated to determine the degree of skill, effort, responsibility, and working conditions in relation to other positions within the organization. This method establishes internal equity in your pay administration program.
Market Pricing:
Correct market pricing ensures that your organization remains competitive during the hiring process and aids in employee retention issues. Market pricing data is available from surveys conducted by our Association as well as other regional and national salary and benefit surveys.
Salary Structure:
The salary structure for your compensation plan is built from your job evaluation and/or market pricing. We develop a salary range for each position in your organization based on the market value of the job. These ranges are an effective means to enable your management team to offer equitable wages and maintain control of your compensation plan.
Administration and Communication:
Once a compensation plan is completed, Associated Employers will educate your organizations leaders in the appropriate maintenance of the system. This enables your organization to remain competitive in the labor market as well as equitable within your organization, with minimal future cost. In addition, Associated Employers can assist in the yearly administration of your compensation program. We provide on-going preparation of job descriptions, job evaluation, market pricing and updates to your salary structure. Proper communication of your compensation plan to employees makes them feel valued; builds trust; reinforces the business philosophy, culture and values; and may improve business results.