Challenge: A high-tech company had grown to a point where it was no longer feasible to have one or two individuals making pay decisions for the whole organization. Some employees were bringing salary information they had researched online and were starting to ask questions about how pay decisions occurred. It was increasingly difficult to have pay discussions with team members without a compensation philosophy and structure in place.
Solution Deployed: We developed a comprehensive compensation structure, pay practices, and a new broad-based equity plan.
We trained all managers who had the responsibility for making pay decisions on the new compensation system. The training included case studies, training and guidelines to support communications with employees about the new system. Additional talking points were included to help guide conversations specific to internet salary data findings or other career progression and pay concerns.
Business Value Delivered: At the conclusion of the project, our high-tech partner had a customized compensation system and well-trained employees. This allowed them to attract and retain a competitive workforce while maximizing stockholder ROI.
Client Industry: Technology
Project Type: Compensation Structure, Training, Strategic Communication, Compensation Philosophy, Long-term Incentive
Business Structure: For-Profit, Privately Held