Whether you want to reward performance, skills or attitude, determining an appropriate and competitive compensation scheme is critical to creating an equitable and transparent environment where employees feel valued for the work they do.
The compensation and benefits packaging options your organisation provides depends on the budget available, the size of your company, and what your employees value the most. It’s important to remember it’s not always about money. Small businesses shouldn’t feel disheartened by not being able to compete with large corporation salaries – you can always build an attractive and competitive package that will appeal to the right person.
We can help you build comprehensive compensation packages or simply start with a few elements and build on them as your business allows.
- Salary – regional salary comparisons, job (salary evaluations), competitor analysis
- Benefits – salary sacrifice, health and wellbeing, leave options, reward and recognition
It isn't always about the money...
Often when salary conversations are instigated by the employee, they are triggered by the employee feeling ‘overworked and underpaid’. Regardless of whether this is actually the case, this perception is your employee’s reality.
Proactive compensation strategies can ensure you and your employees are working in the same reality.