Compensation

Maximizing retention, recruitment and performance ROI

It’s a fundamental aspect of human resources management and is a key component of an organization’s overall HR strategy

  • Designing executive compensation plans that outline how top-level executives will be rewarded for their performance, contributions, and achievements to attract, motivate, and retain executive talent while aligning their interests with an organization’s long-term success.
  • Designing short-term and long-term incentive plans though a thoughtful approach that aligns with the organization’s strategic objectives, culture, and industry norms.
  • Providing employee market assessment and/or compensation market analysis by evaluating and comparing an organization’s employee compensation and benefits with those offered by other employers in the relevant job market. The primary goal of an employee market assessment is to ensure that an organization’s compensation practices are competitive, fair, and aligned with industry standards to attract, retain, and motivate top talent.
  • Developing a flexible title leveling structure to enable hierarchical continuity as the organization scales.

Experience

Insights

  • Designed compensation framework from philosophy to structure with guardrails for consistency and flexibility for growth. Implementation with leader (HR and Ops) education.
  • Implemented title leveling with employers who are scaling and looking for a framework for growth.
  • Redesigned equity plans for scaling companies.  In this case, biotech companies often face unique challenges, including long development timelines, significant capital requirements, and a high degree of innovation and risk. Therefore, their equity compensation plans needed to be tailored to align with the industry’s specific needs and characteristics.

How to Handle Off-Cycle Compensation Adjustments
Lattice
Deanna deBara
October 27, 2022
Compensation cycles are typically annual, said Erika Duncan, cofounder of HR consultancy People On Point. “Many organizations embrace pay for performance and tie an employee’s raise with their annual performance review. Ideally, there is also an annual review of the market and salary demand for titles and skill sets,” she added.

 

Debunking 3 Myths About Compensation Transparency
Lattice
Deanna deBara
October 26, 2022
In addition to providing transparency into compensation structures within an organization, “compensation transparency [also offers] insight into how an employee’s compensation is determined,” explained Aaron Olman, cofounder of HR consultancy People On Point…“It is important for employees to understand the basic principles of their company’s compensation philosophy and the process [involved in] meeting that overall philosophy,” Olman said.