Bbusinesss’ compensation & benefits consultancy provide clients with a wide range of services related to analyzing, designing, implementing and monitoring compensation systems. In today's business environment, it is becoming increasingly important that employers know how they stack up against the competition and that they utilize "pay for performance" systems. In addition, well-designed compensation systems provide a basis to better control labor costs, reduce internal inequities, and eliminate ineffective pay practices. Bbusinesss’ specific areas of expertise related to compensation include:
- Auditing existing compensation plans/practices
- Designing and conducting customized marketplace surveys
- Developing base pay plans, including:
- Pay structures (grades and ranges) for all position levels and classifications
- Pay administration plans (e.g., merit increases, promotional increases, special adjustments)
- Designing comprehensive executive compensation plans
- Crafting incentive plans, including:
- Individual and team incentives
- Key employee retention
- Sales incentives/Commission structures
- Short- and long-term incentives
- Conducting job analysis
- Job description development
To develop the most effective compensation systems; that are specifically tailored to the client, Bbusinesss collaborates with its clients to accomplish the following:
- Identify needs
- Define the scope of work and the product(s) to be delivered
- Develop an action plan and timetable for completion
- Determine the cost to accomplish the assignment