Compensation is more than salary; it is all the ways that a company compensates its team members, from salary to benefits. Today more than ever the compensation plan is part of a successful company's long range plan. With low unemployment and high turnover it has become a candidate's market. The interview process is now clearly a two way street.
In order to attract and retain the best people, your employee compensation plan must be well thought out and flexible enough to meet anticipated economic changes. While we at PeopleSmart think that compensation is only part of the equation of a preferred employer, it is the "foot in the door" that helps attract the right people.
PeopleSmart can analyze your compensation position in the market, and design the total compensation plan that provides you with the necessary building blocks for employee recruitment and retention.
Employee Benefits are an itegral part of the total compensation package. They are one of the key ingredients to recruiting and retention. Companies with successful benefit programs go to great lengths to provide their associates with a clear picture of the value these benefits offer, and the impact on the associates compensation.
The key to this communication process is to avoid technical jargon, and provide the associate with a document that can be shared with their dependents. PeopleSmart can create individualized benefit statements that will have a positive impact on the perception of your plan, and the value of your benefits.