Taking a total rewards approach to compensation is the best way to keep your employees satisfied, increase retention rates, and promote sustainable organizational growth.
At Astron Solutions, we offer total rewards compensation consulting services to help both nonprofit and for-profit organizations achieve these goals.
Here’s a quick overview of what total rewards are and the specific services we offer. Ready to get started now? Fill out the form below.
Our Approach to Compensation Consulting: Total Rewards
Total rewards compensation involves taking a holistic approach to employee compensation, one that involves both direct and indirect forms of compensation.
Direct Forms of Compensation
Direct compensation includes all of the financial ways you compensate employees:
- Incentive pay
- Base pay
- Overtime pay
- Equity benefits
Indirect Forms of Compensation
Indirect compensation refers to all the other non-financial ways (tangible and intangible) your organization gives back to its employees:
- Benefits like health insurance, retirement plans, and PTO
- Flexibility and healthy work-life balance
- Performance recognition programs
- Career development opportunities
- Your internal culture
- Health and wellness programs
- Perks like personal parking spaces, company cars, etc.
The Heart of a Total Rewards Approach: Balance
The purpose of a total rewards compensation strategy is to help organizations strike the perfect balance between these categories in regard to their budget, culture, mission, and goals.
By thinking about direct and indirect forms of compensation strategically, your organization can develop more effective compensation plans that support your long-term engagement goals while also making the most of your available resources.
Dive Deeper Into Total Rewards: Suggested Resources
Want to learn more about total rewards and compensation? Check out these resources, hand-picked by the Astron Solutions team:
- Employee Compensation 101: What Your Org Needs to Know
- Executive Compensation: Taking Charge of Your Organization’s Approach
- Communicating Compensation to Your Employees: A Quick Guide
Astron Solutions’ Total Rewards Consulting Services
Total rewards consultants can be invaluable partners, especially when it comes to complex undertakings like updating (or creating) your compensation approach. At Astron Solutions, we offer these consulting services:
Philosophy and Policy Development
We develop the philosophy, policies, and procedures necessary to keep your compensation programs running effectively and equitably. We can create a compensation policy document that outlines the program basics and details the roles and responsibilities of both HR and line management.
Exempt or Non-Exempt?
Avoid misclassifying employees as exempt or non-exempt. Contact us for our non-legal opinion when you’re not sure about how to classify particular employees. We can also assist with determining an employee’s regular rate of pay for overtime purposes.
External Market Pricing – Individual Positions
Are you losing out on high-quality talent for specific roles because your compensation program isn’t competitive enough? Are your costs excessive because your compensation program is too competitive?
We’ll help you update your compensation so you can attract and retain the right people for the right roles.
External Market Pricing – Large-Scale Projects
If your organization’s base pay system is out of touch with the market, you could be hemorrhaging money, talent, or both. If you have no formal pay structure, there may be internal inequities. Whatever your situation, we’ll help you get the most value from a limited compensation budget.
Internal Pay Design
We work with you to develop a job evaluation plan that addresses the relative value of jobs within your organization.
We also develop a job description system that 1) saves you and your managers time, and 2) reduces the expense of providing new job documentation.
Our powerful specialized compensation programs help motivate your employees to do their best work. And we help you better link pay to performance.
Compensation Strategy Design
We ensure that your compensation strategy supports your overall organizational strategy, that you spend your compensation dollars effectively, and that all of your compensation and benefits decisions are sound.
We help you measure and recognize performance more effectively by creating incentive plans and other variable compensation programs.
Ready to simplify your incentive program? Automate incentive compensation with our Flare® software’s Incentive/Sales Commission Tracker module.
To design your sales compensation plan, our first step is working with you to determine organizational sales priorities. Then we meet with your sales force to get their take on the current pay situation and to identify what they’d like in a sales compensation plan.
The result? A compensation plan that will motivate your sales force like never before.
Take control of your sales compensation strategy and check out our Flare® software’s Incentive/Sales Commission Tracker module.
We help you create a performance management system that is ideal for your organization. We create as many variations of your system as needed — one approach for all employees or different approaches for different organizational levels or lengths of tenure.
If you’re ready to improve how your organization handles performance management, check out our Flare® software’s Performance Management module.
Career Progression Programs
We help you build clearly mapped career paths that facilitate employee growth within your organization and reduce employee turnover.
If you want to automate and simplify career pathing, check out our Flare® software’s Staff Advancement Monitor™.
Executive compensation is a unique challenge that is critical to getting right. Use Astron’s expert, independent guidance to avoid legal pitfalls and achieve a successful result in both the for-profit and nonprofit sectors.
Don’t hesitate to reach out with questions or to seek a bit of HR advice. We’re always happy to offer more detail on how we can help your organization with its specific needs.
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