1. Wage and Salary Survey
Despite what most companies put in writing about employees being their most important asset and then not practicing what they state, employees truly are a critical asset and this is especially so for small companies. Thus, there needs to be an attempt to reward good work. Because of the open employment system within the U.S., there can be intense competition for the best workers in good times and bad. In order to determine how competitive your salaries are within any labor market, wage and salary surveys are provided. HRM Partners provides its salary survey via a reliable third party considering not only the job position but also the industry of the client as well as the demographic area of the client site.
2. Compensation Program Design and Implementation
Competitive compensation programs can impact organizational success. The way employees perform their work is greatly shaped by how their total reward system is designed, communicated and managed. Effective pay systems are designed as an extension of corporate strategy and culture. It reinforces an organization’s ability to successfully compete in an open market. HRM Partners develops and implements compensation programs using multiple factors such as salary surveys, company profitability, company needs, etc.
3. Benefit Design and Implementation
It may be extremely difficult to make sense of employee insurance requirements these days with the ever changing insurance regulations. Although an employee’s salary remains the top priority for those who change jobs, the benefits package offered can also be a critical factor. HRM is able to provide advice on what complete benefits package makes sense from a business perspective based on a client’s number of employees, average age, industry, etc.