Exude understands the challenges that for-profit and non-profit organizations face when evaluating, designing, and implementing compensation strategies. We believe that compensation combines art and science, and we will partner with you to find the appropriate balance. Whether you are looking for market data or the development of an entire compensation program, our highly experienced total rewards team will share best practices as we review and design compensation strategies that support your talent strategy.
Our Compensation team will work with you to define your competitive labor market, analyze your existing jobs and pull comparative data from multiple survey sources. Based on your needs, our approach may include:
- Benchmarking based on job title and basic requirements
- Comprehensive job analysis and mapping to survey data
Salary Structure Development
Using market data, we will design or update salary structure(s) with an intentional focus on addressing any existing compensation-related challenges. Employees are placed in the proposed structure(s) for analysis and recommendations to address issues such as:
- Title and level inconsistencies
- Identification of compression
- Equity discrepancies
- Employees out of range
Exude Human Capital’s pay equity analysis includes the development of a statistical model specific to your organization that predicts salary based on the standard variables, as well as testing the impact of race, gender, and age. Based on this model, we will provide statistically based estimates of:
- Impact of the standard variables (job grade, experience, education, etc.)
- Impact of race, gender, and age
- Predicted versus act
Job Leveling and Grade Criteria
Salary structures enable flexibility and internal equity by providing a framework in which similar jobs are treated equally for pay purposes. Establishing criteria for assigning jobs to title levels and salary grades provides guardrails for the equitable administration of a compensation program and supports the establishment of promotional ladders for employee growth.
Our Compensation Team will assess the competitiveness of executive total reward packages compared to the labor market, including base salary, cash incentives, deferred compensation, benefits, and perquisites.
With over 60 years of combined experience in compensation, Exude Human Capital’s consultants are experienced facilitators of strategic conversations and plans. Our compensation advisory focuses on thought partnership and strategic planning around the areas of:
- Salary Administration
- Incentive Programs
- Pay for performance strategy
- Pay Transparency
- Responding to Regulatory Changes
- Trends and Best Practices in Compensation
What is a compensation study?
Compensation studies analyze your current pay practices and determine if they are competitive for your industry and geographic location. They can also help determine if your employee’s salaries are in compliance with current employment, state, and federal laws.
Why do you need a compensation study?
As competition for talent continues to tighten in this employee-centric market, compensation studies are useful tools to help attract and retain talent. These studies determine the market value of each job, benchmark salary ranges, propose equitable salary ranges for managers and ensure internal parity. In order to remain competitive, it is recommended that organizations conduct compensation studies every three years. It’s not only a best practice to complete compensation studies, but it also has key benefits such as saving your internal human resources department time, improving accuracy of employee pay, improving employee engagement and creating a culture of transparency by communicating a clear compensation strategy.
Did you know compensation impacts these other areas?
HR Outsourcing projects or certain functions of HR can translate into additional savings for your business. Leveraging outsourced HR talent can alleviate your administrative overload so that you have time to focus on your business goals.
Interactive, activity-oriented and provide learners with the tools and resources to support immediate implementation of new skills with the goal of building confidence and competence.
Working Together For You
Your Employee Benefits strategy should fit your employer brand, align with your business goals and attract, retain and motivate your talent. Exude’s benefits consultants will formulate an intentional employee benefits strategy that encompasses all components of total rewards and is aligned with your needs and budget.
Interested in assessing your compensation?