Compensation Design and Market Analysis
In today’s environment of pay transparency, a well-defined compensation structure that aligns with internal objectives and external market forces is key to demonstrating how employers assign value in their compensation system. The Resolution Economics team of cross-disciplinary experts can help you evaluate your jobs, benchmark your salaries among roles, and create a compensation system that works for your organization to attract and retain top talent within your available budget.
Based on your organization’s particular needs, our team of experts can provide:
Job Evaluation and Job Architecture
We evaluate your jobs to create a structured framework for roles in your organization that defines job levels, career advancement pathways, and relationships between roles. This allows you to align job titles, responsibilities, and pay across different teams and departments to drive a host of strategic workforce decisions and ensure a consistent pay and promotional system.
Market Analysis Benchmarking
A market analysis provides your organization with the guidance it needs to be competitive in a tough labor market. We work with you to make appropriate matches to market analysis databases based on job duties, not just titles, to ensure a full representation of the job. Instead of relying solely on the market median we ensure your market analysis is fully customized to your industry, location, and desired minimum/preferred qualifications. We use this information to help you build a pay structure/pay grade system that is easy to manage and competitive with today’s external market.
Flight Risk Analysis
Using predictive analytics, we can identify employees who may be at risk of leaving your organization by examining current workforce data against industry compensation and other benchmarks. This may help employers to address turnover challenges.
