Employees have to be paid (it’s why they work, after all) and you need to do it right to attract and retain the right talent. However, companies often find their compensation plans are causing one or more of the following problems:
Do you know how many different types of incentive compensation plans exist? Do you know how many different names there are for incentive compensation (variable pay, incentive pay, pay for performance, commissions, bonuses, etc.)?
We take you to the buffet to beat all buffets and help you make your selections to suit your company tastes. What one company likes would be completely distasteful to another.
Market Pricing, Salary Ranges, Career Levels, Economic Modeling, Plan Communications…it’s all so overwhelming and tiring, isn’t it?
Just as companies often use experts for tax preparation, marketing, and software development – you can also bring in an expert to help with compensation design. We do this every day. We’ve done this over 200 times. We have the models, tools, the experience, and know the pitfalls.
There is very little in the work world as personal as compensation. Your employees may equate their pay with their value, and you, as an owner, need to be sure you are being responsible with your firm’s resources.
They say getting internal teams to make decisions is like herding cats. We’ve herded lions, tigers, and meerkats (harmless, but they tend to run off in different directions). We will work with your leadership team to build consensus and keep them on track with the project plan. We lead you through the process, step by step, so when you get to the end you ALL understand why you ended where you did.
You would be mistaken if you think compensation design is easy, that you can simply “steal” someone else’s plan or hire us to do ALL of the work and simply give you the answer.
Compensation design, and the underlying organization design and strategy clarification work, go on long after Prosperio Group concludes the official assignment. We hope to become your partner for many years, and in fact we have worked with many of our clients for many years, but…we are not there every day…you are.
You need to OWN your plans, which means you understand them, can calculate them, can communicate them, and BELIEVE in them. If your leadership team does not buy into the end result, then it doesn’t matter how good the designs are…they won’t make a bit of difference. Compensation design is about leadership. We know the path, but YOU must stand on the mountain and plant the flag.
Compensation is hard, confusing, costly, risky, and contentious
But, Prosperio Group is a trailblazer in the strategic use of compensation in the transportation, supply chain and logistics industry. Not only have we been around this particular block—we helped design and build the block.
We have helped create and define the compensation plan space within the transportation segment. But most importantly, we can help you too. We have executed over 200 successful engagements and have a roster of raving fans worldwide.
Ready to be next?