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Broad Banding Programs
"Today's business climate requires support systems to be flexible, easy to administer, and supportive of flat organizations."
Traditionally, companies operate with a defined hierarchy in their workforce. Each position is given a specific title, job description, and "rank" within the organization. Compensation Advantage offers a new alternative to the traditional "stair-step" hierarchy. Broad Banding eliminates minor differences' among positions found in traditional compensation programs, this approach brings a wide array of benefits to your company, such as:
- Simplifies compensation programs
- Broader pay structure allows a flexible pay delivery system
- Eliminates layers of bureaucracy and supports flat organizations
- Eliminates barriers and encourages communication
- Encourages employee development.
- Increases flexibility of your workforce
Government Regulations
"Legal compliance need not add cost, but non-compliance certainly will."
Failure to comply-with the myriad of federal, state, and .local rules can have devastating effects. Compensation Advantage works with you to ensure that your compensation programs meet all government regulations without incurring needless costs. Our expertise includes:
- Pay Equity Act
- American Disabilities Act
- Family Leave Act
- Federal Contractor Rules
- Child Labor Laws
- Minimum Wage
- Overtime Regulations
- Record Keeping Regulations
Compensation Program Design
“A simple, flexible compensation system is a business necessity today, especially for small to medium sized companies.”
The right compensation program for your company is the one that furthers your business goals. Compensation Advantage can help you develop an integrated system of compensation programs to bring you the best return on your investment, including:
- Executive Compensation Packages – including perquisites, executive bonuses, and stock plans
- Variable Pay Programs - Management, team based and project bonus programs
- Skill Based Pay Programs - Reward programs for knowledge and skill
- Performance driven pay - Base pay programs in which increases are based on regular evaluation of each employee's contribution
Job Pricing Services
"The 'right' amount of salary depends not only on what your competitors pay, but also on how you value the position."
At Compensation Advantage, we'll guide you in determining a fair value for positions in your company, from starting salaries to future rewards. We'll also help you create an evaluation system which allows you and your managers to review job values in the future as your company's needs change.
- Internal Position Evaluation
- Market Salary Surveys
Integrated Program Development
"Compensation programs must be tailored to your business and fully integrated into your organization."
Compensation Advantage specializes in providing your company with compensation programs that suit your business needs and goals. We will evaluate your unique business situation and help you develop a package mat will be cost efficient, motivational, equitable, and with, the flexibility to grow as your company does. At Compensation Advantage, we understand that compensation programs are just one element of a company's .relationship with its employees. That's why we work to integrate the programs we develop with your other business and labor concerns, including:
- Benefit Programs
- Performance Management
- Career Development Programs
- Labor Regulations
- Information Systems
Flexible Compensation Programs
"Compensation programs must be flexible to meet your changing business environment"
At Compensation Advantage, we work closely with your managers and employees to ensure that your compensation programs meet your company's needs-from the start. But even the best packages may have unexpected results, and every program, must have the flexibility to change with your company. That's why we schedule a review, during the first year after your program is implemented, to assess its performance. We recommend:
- Programs Developed with Management and Employee Involvement
- Periodic reviews to Ensure Program's Success
- Flexibility in Design to Allow for Future Change
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