To determine a salary for an employee or a new hire, an organization should consider multiple organizational factors including its ability to attract and retain staff, its compensation philosophy and strategy, internal equity between positions and external competitiveness to the market.
For the past 25 years JER HR Group has been conducting Staff Compensation studies nationwide for its clients, through a structured process including:
- Review staff positions in an organization based on their work and their job description. If one is not available, we often utilize position questionnaires that are completed by staff to prepare job descriptions that define a position’s role, key responsibilities, qualifications and job factors that support successful performance.
- Conduct job analyses to assess if job content and titles are used consistently; identify factors across an organization that can be used to determine appropriate groupings of jobs.
- Design and implement a job evaluation system that provides a clear, rational basis for determining the relative internal value of jobs and creating salary grades or bands.
- Conduct a market pricing analysis of a representative sampling of jobs or all jobs to determine current salaries in the external labor market for comparable jobs. If needed, design and administer a custom compensation survey to obtain data on current salary, benefits, and compensation and benefits practices from peer organizations.
- Design salary structures (salary grades/bands and ranges) that establish an array of pay opportunities that are consistent with the market value for groups of jobs in a salary band or grade and reflect internal organization value of all jobs in the organization.
- Develop salary administration procedures that support consistent and equitable decisions regarding staff compensation, including guidelines for merit increases, promotion increases and in-range adjustments.
- Develop a staff communications plan to explain the compensation plan and its various components, and steps to be taken in plan implementation. Lead or facilitate staff and/or supervisory orientation sessions to communicate the plan and answer questions.
- We will create a strategic plan and will also develop implementation plan.
- We develop compensation plan implementation to implement strategic efforts.
- Develop a model for employee talent profile - we develop a model that can be used to assess the talents and competencies of individual employees against job profiles. This will help in developing both S/T and L/T career path.