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Compensation FAQs...
What can ECI do for my organization?
ECI consultants respond to a wide range of issues. The following are FAQs that indicate that we might be able to be of value to your organization:
  • We are having trouble hiring/retaining (a specific category) of employee;
  • It seems that our payroll costs keep going up, but we aren't:
  1. getting more results for our dollar,
  2. appreciated by our employees,
  3. sure that we are spending our money in the right places, or
  4. taking advantage of any tax efficient compensation systems;
  • We are interested in reducing our fixed payroll cost and moving to a variable pay approach;
  • We want to use a total compensation approach for determining what benefits we should provide our employees;
  • We are adapting a TQM philosophy and are considering deleting pay for performance and moving to a skill based pay system with gainsharing;
  • We're thinking about dumping our present job evaluation system since:
  1. it is too difficult to maintain,
  2. our managers don't understand it,
  3. none of our staff knows how to use it, or
  4. it doesn't seem to correlate with the market data we receive;
  • Our staff is too busy doing job descriptions which comply with the American Disabilities Act to work on anything else;
  • Everything we do seems to be focused on short term goals and results, we are concerned that perhaps we need to help management pay attention to the long term growth/profitability of the organization;
  • Our incentive (or performance appraisal) program hasn't changed in ten years;
  • We use informal approaches for setting salaries and bonuses, our employees trust our judgement;
  • We adopted the same incentive plan that our competitor uses, it seemed to work well for them;
  • We think that we may have an EEO problem with our compensation levels;
  • We have been considering:
  • exempt overtime pay
  • stock programs for all employees
  • area differentials
  • new perquisites for our executives
  • starting a new plant
  • downsizing
  • new sales incentives / commissions
  • going public
  • a leveraged buyout
  • executive contracts / parachutes
  • non-compete agreements
  • non-qualified deferred pay

In short, ECI adds value in helping firms effectively build better, more stable, productive cultures. We can help you identify whether or not the compensation tools you are using are appropriate for your situation.

Refer to Compensation Consulting or our "Consulting Projects" category, which you can find on the navigational menu to your left for more information.

 


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