Compensation Study and Consulting Services
Exude’s Compensation Consulting Services
Exude will pair you with a compensation study consultant who will work to understand your strategy and culture to ensure your compensation strategy is right for your business and employees and fits into your overall organizational strategy. Our support on comp study projects ranges from conducting a full compensation study to supporting organizations at each step of the compensation process. We partner with internal human resources and key stakeholders throughout the project and can help assess, design and implement your entire compensation strategy and provide outsourced hr support in the following areas:
Compensation Strategy & Plan Design
Employers that want to succeed in the increasingly competitive job market must have a well-designed compensation strategy to attract, retain and motivate employees. As a compensation consulting company, we provide the services and expertise to develop the best compensation strategies for your unique organization.
We’ll work with you to help create an overall compensation strategy and support you in any areas that need improvement. Not only will we help you create the strategy to motivate employees, control compensation costs and ensure equity, but we implement the strategy as well.
Exude will perform research to define, value and analyze market data to establish a benchmark of your organization against others in the market. Internal job descriptions will be matched to external jobs with similar responsibilities to identify market rate for each position.
We’ll work with you to ensure your vesting schedules are fair and appropriate for your organization and employees.
Whether you’re offering a 401(k) match or stock options, the right vesting schedules can help you retain talent. Vesting schedules can encourage high-performance employees to stay longer to reap the full benefits of employer contributions.
We’ll help you navigate the various types of vesting schedules to determine what makes the most sense for your needs.
We’ll collect compensation data from multiple sources to determine the average compensation paid to employees in a specific position.
As a leading compensation study firm, we deliver top-quality, independent salary surveys to help you stay on target and attract the best talent in your industry. The data from a salary survey shows you whether your salaries are on par with your competition. By regularly using a salary survey, you can ensure your compensation plan and retention strategy are effective.
Exude will look at each employee in your organization’s salary and provide recommendations based on the salary of employees performing like work, following an examination of both internal and external comparable factors.
An equity review ensures you’re offering fair wages to employees who do the same job. Ideally, employees with similar job duties, experience and tenure should be paid comparably. With an equity review, you can evaluate every employees’ salary, identify any anomalies and make necessary adjustments through a meticulous process.
It is essential for organizations to find the right balance between pay and performance for senior executives. With continuously changing market practices, it is imperative that “best practices” are being used when compensating executives. We’ll help ensure that you are in line with competitor offerings, help mitigate risks and create a compensation plan that is right for your executives.
Our executive compensation consulting services help you identify the best strategies to attract, retain and motivate your senior executive team. We provide comprehensive data to help you navigate executive compensation and ensure your business’s health.
Employee Experience Surveys
The use of data can be so meaningful to inform leaders of the current state. Just as organizations have become much more intentional with studying the customer experience by listening to customers, now many organizations are doing the same tied to their employee experience.
We survey your employees to assess their satisfaction and motivation levels. We synthesize employee feedback into actionable insights on how to increase employee engagement. Learn more about our employee experience surveys. Learn more about our employee experience surveys.
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.
Thriving workplaces have a strategy to create happier, healthier, and more engaged employees. Addressing the “whole employee” impacts productivity, engagement, and the overall success of your organization.
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.
As part of your total rewards strategy, your employee benefits should be aligned to fit your people and business. A customized strategy, which includes technology, should be developed specific to your organization’s needs and goals.
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?