CompAnalysis
725 Washington Street
94607 Oakland
Phone: +1--51-763-3774 ext 108
Web: -
Actions| Developing Your Compensation Plan |
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| Product Manager | Rebecca Cohen |
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| Product Description |
Ensuring Employee Compensation is Externally Competitive and Internally Equitable
Once we have assessed our clients’ specific needs, and discussed their desired pay philosophy and goal measurements, we can develop a recommendation for compensation. CompAnalysis’ general approach to compensation plan design is to work with our clients to assure our full understanding of the organization’s needs and objectives. Our approach assumes that the recommended job evaluation criteria we develop will be based on job content, functions, requirements, and responsibilities. Therefore, for job classification purposes, we generally do not consider the unique qualifications and/or performance of the incumbent employees because those are personal—not job-specific—characteristics. Individual employee performance, however, is typically an indication of where the employee should be paid in relation to job value. Our steps to creating a functional and effective compensation plan include assessment of: * external factors—labor market research and industry trends * internal factors—relative measures of jobs within your organization * objective measures of performance results In essence, CompAnalysis compiles and compares labor market research data based on each job’s description to determine how your competitors pay their employees. We combine this knowledge with an internal job comparison to recommend base pay levels for your employees. We interact with your organization through each step of the process, and welcome your feedback. We will work to finesse the plan until you are completely satisfied. CompAnalysis has designed and implemented compensation plans for hundreds of corporate, nonprofit, and government clients. Whether you need a few adjustments to your existing plan or a completely new plan, we can help you achieve your goals. |
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| Pay for Performance |
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| Product Manager | Rebecca Cohen |
| Product Demo | |
| Product Description |
Using Incentives to Encourage Motivation & Increase Productivity
The concept of paying employees based on their productivity has long been the subject of debate, and has generated an enormous amount of discussion and research over the years. At CompAnalysis, we believe well-designed, effectively-managed compensation plans of this type can be one of many powerful motivators for positive behavior changes, and can generate significant results. Some of the benefits we have helped clients to achieve through plans that link pay to performance are: * Increased Productivity and Efficiency in work processes and results on the individual, team, and company-wide level * Better Understanding of Goals and the measures needed to meet them * Clearer Communication between supervisors and employees * Improved Collaboration between team members * Successful Retention and Increased Job Satisfaction among top performers CompAnalysis can help you implement a performance measurement process that centers around goal-setting and goal achievement measurement. We can assist you by: * Assessing which employees will be motivated by this process * Involving eligible employees in the goal-setting process * Choosing goals that are achievable, controllable, measurable, and relevant to the job * Identifying conditions and dependencies, and making adjustments to goals if conditions outside employees’ control should change * Developing metrics for each goal and computing levels of goal achievement * Planning and implementing the program rollout, including training, documentation, and follow-up * Designing the linkages between measures of achievement and pay |
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| When I think about this product I love | |
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| Compensation Strategy and Planning |
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| Product Manager | Rebecca Cohen |
| Product Demo | |
| Product Description |
Creating Plans that Support Your Organization's Pay Philosophy
The success of any organization depends on its employees’ continued productivity and performance, while also staying within budgetary parameters. A compensation strategy is paramount to that success. Important components of compensation strategy include determining a company’s pay philosophy, and how to measure goals. Companies utilizing effective compensation strategies can: * Attract & retain valuable employees * Assure fair & internally equitable pay levels * Utilize financial incentives to motivate performance improvement * Optimally manage compensation costs * Comply with applicable legal requirements Strategies that fulfill all of the above outcomes are considered effective compensation plans. Effective compensation plans are vital to the success of every organization; employee compensation is a major part of an organization’s budget, so pay plans directly affect the bottom line. An effective compensation plan provides a framework within which managers can make well-informed pay decisions that support the hiring, retention, and motivation of their employees. Pay plans may be comprehensive and broad-based, or they may apply to specific job groups, such as executives or sales staff. They may apply solely to base pay, or they may incorporate variable cash compensation (e.g., bonuses, commissions) and other compensation elements, such as benefits or long-term capital accumulation vehicles. CompAnalysis can help you customize a plan that fits your specific needs. |
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| Client Feedback | |
| When I think about this product I love | |
| When I think about this product I wish they would improve |
| Labor Market Research |
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| Product Manager | Rebecca Cohen |
| Product Demo | |
| Product Description |
Supporting Job Classification
Access to job-specific salary data offered by your competitors is essential to any pay plan, and is a crucial component to evaluating and classifying jobs. Market research also contributes to the development of competitive variable pay plans and equity-based compensation strategies. CompAnalysis staff uses the latest in survey technology to obtain, analyze, and interpret labor market data. Our research comes from four primary sources: * Published Surveys – These include a comprehensive compilation of salary, bonus, and/or stock option data, utilizing multiple legitimate sources of survey data. Job-by-job data analysis is specific to location, organizational size, and industry. * Custom Surveys – These are specialized surveys that focus on specific organizations within a particular industry and/or location, usually to obtain pay data on industry-specific or rarely surveyed jobs. May also include pay practices research. * Publicly Available Executive Pay Data – This includes the analysis and evaluation of data from proxy statements and/or nonprofit or government agency reports. * CompAnalysis Annual Survey – CompAnalysis conducts its own annual Greater San Francisco Bay Area Compensation Survey, which focuses primarily on job-specific compensation data. Industry data are compiled by location and size. For more information, please click here. We tailor our research to meet your particular needs by: * Assessing Your Data Needs – This includes identification of organizations with which you compete for talent. * Identifying and Acquiring Data Sources – This includes thorough research of current, accessible surveys from professional and industry trade associations, consulting firms, and other reliable sources. * Analyzing Data Based on Job Duties and Responsibilities – This includes matching your job content to corresponding survey job descriptions, since titles alone can be misleading. * Selecting Benchmark Jobs When Necessary – This includes identification of jobs for which data are available through published sources, as well as those that are most important to your organization. |
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| Performance Management |
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| Product Manager | Rebecca Cohen |
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| Product Description |
Focusing on the Means of Productivity
Performance management broadly consists of activities designed to develop employees’ knowledge, skills and abilities. Performance management includes such tactics as training, coaching, counseling and assessment of traits and behaviors. At CompAnalysis, we believe that both the means and the ends of performance are important. We work with clients to develop the policies and practices that explain how they define, measure and intervene at all steps of performance management. These include: * Creating an employee development process, including assessment tools, processes and procedures to further the acquisition and/or enhancement of employees’ competencies * Establishing generic expectations of employment in terms of traits, behaviors and adherence to organizational values * Providing training and coaching resources * Clarifying job functions and organizational reporting relationships * Measuring results at the individual, team, department and/or organizational levels |
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| Client Feedback | |
| When I think about this product I love | |
| When I think about this product I wish they would improve |
