 Whether
ECI is retained to design a compensation program from scratch,
or to audit an existing program, it is important to be sure
that the program accomplishes several objectives, including:
- The
program elements reinforce company goals
- Employees
and managers can understand the programs
- The
programs provide compensation or benefits in the most cost
effective manner possible to the company
- The
programs are reasonable considering the organization's
resources and practices of other organizations who compete
with the organization for employees.
ECI’s
consultants and Associates have the technical knowledge that
is required to assess the programs that you have or are
considering, or we can help you by generating alternatives
that you might not have otherwise considered.
We
can look at any individual compensation element if you desire.
It is often most cost effective to examine your entire pay
package to assure that it is designed considering the
integrated issues that impact compensation.
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Effective:
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Compensation:
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Affordable
Appreciated
Appropriate
Attractive
Competitive
Communicated
Coordinated
Cost Effective
Current
Deliberate
Distinctive
Efficient
Empowering
Enduring
Equitable
Flexible
Focused
Forward Looking
Goal Oriented
Guiding
Integrated
Justifiable
Knowledgeable
Legal
Leveraged
Manageable
Motivating
Necessary
Opportune
Optimized
Performance Based
Polished
Prudent
Relevant
Retentive
Simple
Strategic
Successful
Targeted
Team Spirited
Understood
Values Based
Warranted
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Concrete
- Base
Salary
- Incentives
- Retirement
Income
- Capital
Accumulation (equity/stock plans)
- Protectives
- medical/dental/vision/life
insurance
- disability
income
- survivor's
income
- Paid
Time Off
- Perquisites
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Subjective
- Nature
of Work
- Recognition
- Career/Pay
Opportunities
- Education/Learning
Opportunities
- Working
Environment
- Work
Hours/Load
- Time
Demands
- Management/Leadership
Style
- Employee
Culture
- Employee/Management
Communications
- Industry
- Organization
Image/Reputation
- Location
- Community
Involvement
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The
process for developing / maintaining the programs
that support effective compensation
must fit each organization's situation and style.
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