Services Details
Sterling Consulting Services has access to numerous local area wage and
salary surveys to analyze your current pay practices to see if you are competitive. We
also have the capabilities to develop and conduct customized surveys for specific areas of
the country. We can tell you how much difference there should be in the wages you are
paying in Parkersburg, WV versus Chicago, IL for the same position.
If we find that your pay structure is not comparable we can help you develop the
methods to correct it. If your pay structure is on target with the area, then we can help
you in your communication of that information.
We have many years of expertise in the development of various incentive
or variable pay plans. These include: sales commission, bonus, sales incentive, profit
sharing, gainsharing among others. Are you interested in motivating your employees to be
more cost conscious, to generate more sales, improve customer service as well as being a
more active part of your business? Then incentive pay plans may be just the item you have
been looking for to improve your business. When properly developed and communicated
incentive based pay plans create a true win-win situation for both you and your employees.
Sterling Consulting Services recommends the use of "Pay for
Performance" plans which will tie the wage and salary increases directly to the
results of your operation. This can be through the above mentioned incentive plans or
through a merit based compensation plan for all of your employees.
The pay for performance approach is based upon establishing specific objectives for
each employee and then measuring their actual performance against the objectives. This is
sometimes referred to as an "MBO" or Management By Objective" type of
approach.
We can train your Human Resources department on how to develop and implement this
approach or we can actually meet with your managers and employees directly to educate them
on this process. We will be willing to work with you on either approach that you want to
take.
Additionally, if you already have a pay plan that you have been using and you do not
feel that it is working, we will review it for you and make recommendations. Not every
company will benefit from the same type of plan. Make sure that you are using one that
will give you the greatest return on your investment!
In some instances, "Pay for Knowledge" plans may be the most
effective way to reward and recognize the growth and skill levels of your employees. These
type of plans are typically used in maintenance or technical positions and positions where
you have a lot of crosstraining or moving of workers to different job assignments.
Basically, this type of pay plan is based on the theory that the more skills and
knowledge that an employee gains the more value that they bring to the business. This also
give you the opportunity to receive a greater return on your human resources. There is a
certifying process that usually accompanies this type of plan.
If this is of interest, why not let a Sterling Consulting Services expert meet with you
to discuss the feasibility of implementing a plan of this type for your organization.
What are we talking about when we mention benefits? Items such as the following would
be included: