Compensation Highlights: The Many Ways We Provide Compensation Services to Clients
As a client of Total Reward Solutions, you probably know that we offer a wide range of compensation services designed to help your organization remain compliant and competitive. That much is no surprise. But what might come as a surprise are the ways we provide these services. In short, we work with you in strategic alignment with your needs, your goals, and your budget. Here are just a few of the common client engagement arrangements under which we provide compensation services:
Project-Based Compensation Services
Certainly the most obvious way we provide compensation services to clients is via projects. Simply put, we can take on specific, focused compensation projects in all areas of compensation, benefits and performance management. Many times, our clients have their routine and ongoing HR and compensation programs on track, handled by internal staff. But when special needs arise, due to limited staff or the need for periodic program reviews, we can step in, work with your team to accomplish your project goals, and then leave your staff to implement and monitor the solutions.
One of the compensation services we provide frequently is Market Benchmarking. With Market Benchmarking we can analyze the external marketplace and provide you data on the value of your staff positions in your market without requiring you to spend time and money participating in surveys. We can do this for a single position, several at once, or as a complete organizational position analysis showing how your employee compensation stacks up against other companies in your industry. This primarily externally-focused service can save you a lot of time and money when compared with purchasing and participating in market surveys.
Outsourced Compensation Services Provider Arrangements
Another valuable and strategic way we work with clients is either on retainer or as their fully outsourced compensation services provider. If your HR and compensation services staff is limited or lacks the skills to keep your compensation programs market-competitive and in compliance with employer regulations, Total Reward Solutions can step into the void and serve as your part-time expert compensation services resource.
Best of all, the services we provide and the amount of time we dedicate to your needs can be custom tailored in a package to help you accomplish your ongoing goals. Hiring us as your outsourced compensation services provider can help you avoid hiring an additional less experienced employee when all you really need is a part-time expert!
Other Compensation Services
Among the many services we provide, Total Reward Solutions offers certain services you might not be aware of. These include:
- Total Reward Statements to help your employees understand their total rewards package with customized total reward statements for your organization.
- Communications and Training services to help you develop and design communications or training for your staff or management regarding changes in your total rewards programs.
- Strategic Compensation Assessments that provide a strategic review and direction for your compensation program for the next 2 to 3 years. With an SCA, we can help you assess where you are in the marketplace and provide strategic direction for how to get where you need to be in order to remain competitive and attract and retain top talent.
We’ll discuss these in more detail in future posts, but feel free to contact us today to learn more.
The Bottom Line
At Total Rewards Solutions, our full range of compensation and benefit services can help your company manage employee compensation and benefits design and administration. (As one of our current or former clients, you’ve experienced this firsthand.) Whether it’s on a project basis, via external competitive analyses, or on retainer as an Outsourced Compensation Services Provider, we can help you achieve your compensation program design, implementation and administration goals. To learn more or discuss a compensation solution tailored to your needs, contact us today at 317.589.8529.
About Total Reward Solutions:
Need an additional total rewards or compensation service from us? Total Reward Solutions is your trusted partner for compensation and benefit services. As you recall, Total Reward Solutions offers a broad range of compensation, benefits, performance management, and reward/recognition consulting services to help your organization attract top talent, motivate employees and retain top performers. We can partner with you on a project basis, on retainer, or as your total outsourced solutions provider for compensation services.
Call us today at 317.589.8529 to discuss how we can help your organization develop and implement competitive and effective compensation and total reward programs.