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Choosing the right pay delivery system can make the difference between success
and failure. That choice is not as easy as it once was. MBL approaches
compensation design from a total compensation perspective. We understand
the importance of looking beyond base pay and into employee benefits,
incentive pay and other alternative reward strategies. We know how
critical it is to communicate pay programs in a way that leverages
the effectiveness of those programs. Pay delivery systems will touch
every part of the organization from the culture, productivity and
morale to the fundamentals of profitability.
Despite the growth of new compensation strategies, base pay programs
remain the foundation that we must build on. For many companies,
base wages represents the largest budget item. Controlling that
expense while maintaining a competitive wage structure is easier
said than done. We have extensive experience in designing creative
solutions to age-old problems. MBL will conduct a market analysis
and compare positions internally for equity. We design salary structures
that enable clients to implement base wage controls. MBL will also
design a pay delivery mechanism that fits the organization.
One key to a strong compensation program is the availability of
solid market data. MBL maintains a library of local, regional and
national salary surveys in a wide range of industries. If the data
we need is not available in the published surveys, MBL will design
custom salary surveys to target specific jobs, industries or locations.
MBL has been very successful, as an objective third party, in getting
cooperation from competitors in sharing sensitive salary data.
Never before has incentive pay played such a crucial role in business
success. Controlling fixed costs through a sound base pay strategy
is only half of the solution. Most organizations are looking for
ways to tie pay to performance, placing more pay "at risk." There
are few off-the-shelf solutions to compensation. It is critical
that an incentive plan be linked to your business objectives. MBL
has designed incentive plans in a wide range of industries including
technology, manufacturing, service and retail. Our expertise includes
commission, short and long-term bonus and profit share plans.
Even the best compensation programs will fail in the absence of a well-planned
communication program. Compensation plans are designed to reward
and motivate employees. It is imperative that every manager and
supervisor understands not only the mechanics of the program but
the philosophical foundations if they are to administer the program
day to day. The employees involved in the program need to know how
the new plan will affect them directly. Some of the best-designed
programs succumb to the skepticism of employees who don't understand
the changes and expect the worst. MBL will design a training and
communication program that increases the likelihood that a program
will be successful.
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