The HRM Compensation and Reward System
combines progressive human resource principles with a bottom-line orientation
to create Compensation and Reward Systems that motivate employees and support
your business objectives. The entire system is yours, tailored to fit your
needs and your financial situation. Your Compensation and Reward System is
updated based upon the latest compensation trends and changes in your corporate
Why is a Compensation
and Reward System important?
Employees see pay as a declaration of their value to
the organization. A formal Compensation
and Reward System provides consistent, equitable pay throughout the
organization. By doing so, it motivates
employees to improve performance and support the organizations objectives.
The number of law suites and internal
grievances charging unfair pay practices has risen at an alarming rate during
the past few years. The cost of such
actions against your company could be significantly higher than the cost of a
sound Compensation and Reward System.
You need a Compensation and Reward System if:
- You have 15 employees or more.
- You have a sense that you are spending too much on
- You are having complaints about discrepancies between individuals, levels, departments or locations.
- Your company is growing rapidly or is restructuring.
- Your current system is outdated.
- Your turnover rate is high.
- You are expanding to more than one location.
and Reward System is Affordable:
We designed the Compensation and Reward
System for small and medium-size companies with a view towards saving you
Creating a Compensation and Reward System:
A comprehensive appraisal of your current policies
and corporate objectives is conducted in order to develop a compensation
philosophy with you. We then create job
descriptions, evaluate jobs and analyze market data before creating a
Compensation and Reward
System. Next we develop pay policies, including a
performance management system. Finally,
we help you implement individual pay adjustments and communicate your new
Compensation and Reward System to all employees.
Contact HR Mentor