Compensation and Benefits

Effective compensation and benefits management requires an in-depth knowledge of the competitive market for talent as well as the ever-changing maze of federal and state laws and regulations. In the past few years, employers have had to adapt to a changing labor market, dramatic increases to minimum wage, constantly changing health care mandates and reporting requirements under the Affordable Care Act, earned sick time and new employee leave requirements. Each of these has required a rethinking of compensation and benefits. Now, pay equity will further challenge employers.

A clearly articulated compensation program states the employer’s values.

Bondcliff HR Advisors can simplify your organization’s approach to compensation and benefits. Our comprehensive organization review will identify how your total pay strategy aligns with the market and your operational success. We will walk you through the decisions that allow you to Recruit, Retain and Reward top talent. We also ensure compliance with state and federal laws while respecting your financial model.

Our Services Include

Pay Equity

Identification of comparable groups
Simple and multivariate regression analysis
Detailed report of pay analysis findings
Remedial action plans
Pay equity compliant job descriptions
Audit of key compensation processes
Leadership and employee communication & training

Compensation Strategies

Market Benchmarking Tool
Salary Structure Modeling & Design
Sales & Performance Incentive Plans

Benefits Consulting

Benefits Renewal Strategies
Comprehensive Audit
Cost Modeling

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Pay Equity / Equal Pay

Our pay equity analysis process can determine whether your compensation policies and practices provide equitable pay among employees performing comparable work. Pay analysis depends upon the size of the employee pool and the variety of factors affecting pay. Our tools can be tailored to handle small and large groups as well as single or multiple factors. Using a variety of statistical tools, including mean, median and regression analysis, we identify whether your pay practices have resulted in gender-based pay disparities and the most appropriate way for your organization to remedy them.

Our comprehensive process will also review your key compensation processes, from new hire salaries to annual salary adjustments and bonuses.

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Market Analysis and Position Benchmarking

Knowing what to pay your people begins with knowing how your competition pays their people. Bondcliff HR Advisors provides current data on pay practices by industry, company revenue, and location. Our market analysis tools allow you to compare salary data from multiple sources at various market percentiles, enabling you to establish and update competitive target pay scales for your employees.

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Salary Structures

Internal pay equity reflects employee contribution and organizational values. A well-defined compensation structure, including salary levels and ranges, promotes salary growth for performance and service and creates predictability and consistency across departments. The right salary structure for your organization depends upon your workforce and your structure.

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Sales and Performance Incentive Plans

Incentive compensation planning requires solid market information and financial modeling. Properly designed incentive plans reward employees when the organization succeeds, leverage the right amount of incentive to base salary and provide a competitive total compensation package. Bondcliff HR Advisors provides market data and incentive plan modeling to ensure that your plans align motivation and rewards with financial results.

Need our expertise? Please fill out the form below and provide a brief description of your situation. We’ll reach out to you as soon as we can.

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Benefits Consulting and Modeling

For many organizations, the annual benefits renewal too often is a reactive process. However, the renewal is among the largest purchases organizations make each year. Selecting the right plans requires a process. We establish your organization’s process, ensuring that you keep abreast of developments in the benefits field, have time to review options and choose the best plan for your organization.

The rapid growth of benefits plans and options and complying with the multitude of federal and state benefits laws and regulations is a full-time responsibility. Few organizations can afford to dedicate a full-time resource to managing benefits. Bondcliff HR Advisors reviews your plans and plan documents to ensure compliance and minimize the risk of adverse employee claims.

Compliance

Satisfying regulations and organizational priorities requires navigating the high road to an aligned and meaningful destination.

Performance and Engagement

Employees embracing purposeful work and strategic systems create thriving organizations. Engage your employees by optimizing performance processes.

Comparable Work vs. Comparable Worth

The concept of comparable work lies at the heart of the new Massachusetts Pay Equity Act. Read our recent blog post covering this topic.

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