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BENEFITS & COMPENSATION
 Total Compensation Effectiveness Job Evaluation/Job Pricing and Structure Managing Compensation/Benefit ProgramTotal Compensation Effectiveness Are you experiencing your talented people leaving the organization because they can get better benefits and compensation somewhere else? Do you strive to recruit talent to your organization or do you settle for what you think you can afford? No single item has a greater impact on an organization and its employees than the compensation structure. Wages and Benefits are often the largest category of controllable costs in doing business (depending on the industry). Profitability, competitiveness in the marketplace and the ability to recruit and retain talent can be greatly impacted by the compensation structures of an Organization. The philosophy and objectives of organization’s total compensation system must be designed to accomplish six distinct objectives: Compatible with business mission and culture Cost Effectiveness to industry or business Cost Competitive externally Attract, motivate and retain employees Equitable, fair and rewarding to employees Compliance with Local, State, and Federal laws and regulations These objectives can be realized directly or indirectly depending on the type of business. Once the analyzing, pricing and structure is established, Catalyst Connections, Inc. can assist you in establishing the Compensation program that fits your organization. Again, Compensation Programs must be structured to be cost effective, yet attract, motivate and retain employee. Job Evaluation/Job Pricing and Pay Structures Job evaluation is a method used to place value on each job within your organization. This process results in pricing the job to your internal structure, the market place, locally, statewide or nationally. Catalyst Connections, Inc. takes both quantitative and non-quantitative approach to evaluating jobs. Depending on your business type and size, our method of evaluation comparison will be: Industry-focused or job specific focused Market focus of similar size, profitability, sales/assets, geographic area Local, regional or national Federal Regulatory Compliance (FLSA Standards) At Catalyst Connections, Inc. we use a systematic approach to strengthen your Compensation Program to best suit your organization’s needs. We would be happy to discuss your needs or current situation in developing your Compensation Program or fine tuning your exsisting one. Managing Compensation/Benefit Programs Effectively Indirect pay program, such as Health Programs, Incentive Programs, Wellness Programs, benefit employers: INCREASED PRODUCTIVITY RETENTION WORK QUALITY COMPETITIVENESS INCREASE EMPLOYEE COMMITMENT ORGANIZATIONAL DEVELOPMENT What benefits are required by State and Federal Law? SOCIAL SECURITY/MEDICARE UNEMPLOYMENT INSURANCE WORKER’S COMPENSATION FAMILY AND MEDICAL LEAVE Designing a flexible, competitive, equitable compensation system is not easy. However, if structured correctly, it can contribute to employee satisfaction and security. At Catalyst Connections, Inc. we would be happy to discuss your needs and current situation in designing and developing an effective Benefits and Compensation System. |
