Sterling Consulting Services, LLC

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Services Offered

bulletWage Studies and Surveys
bulletIncentive Pay Plans
bulletPay for Performance Plans
bulletPay for Knowledge Plans
bulletBenefit Analysis and Comparisons

Services Details

Wage Studies and Surveys

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.

Incentive Pay Plans

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.

Pay for Performance Plans

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!

Pay for Knowledge Plans

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.

Benefit Analysis and Comparisons

Today, more than ever before, the benefit package that companies provide are playing a major role in whether or not an applicant says yes to your offer or whether you are able to keep your current employees. Do you know how your benefit package stacks up? We do! We have access to information across the United States concerning benefit comparisons and can survey specific markets in which you operate.

What are we talking about when we mention benefits? Items such as the following would be included:

bulletVacation Schedules
bulletNumber of Holidays
bulletPaid Time Off
bulletJury Duty
bulletDental Insurance
bulletVision Coverage
bulletPension Plans
bullet401k Plans
bulletMedical Insurance
bulletSick Days
bulletLeaves of Absence
bulletWork Schedules
bulletLife Insurance
bulletShort-Term Disability
bulletLong-Term Disability
bulletUniforms
bulletCompany Picnics
bulletDiscounts
bulletTuition Reimbursement
bulletChild Care

If you do not have some of these plans and your competition does, then it is probably having an impact on your recruitment and retention of employees. Let Sterling Consulting Services work with you on deciding which benefits are providing you with the most "bang for the buck". We also specialize in how to communicate the changes that you decide to make.

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Last modified: April 28, 2007

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