An Arcus survey of 342 HR leaders earlier this year indicates that the variable component of compensation is driving significant shifts in how talent is hired, engaged and retained. This has been especially pronounced since the Pandemic started in March 2020 indicating that organizations have been looking for innovative ways to make compensation packages more competitive.
This means that compensation budgets are subject to major fluctuations depending on the overall performance of teams and the organization. As a result, it has become important for HR leaders to be much more involved in the broader business operation and to understand how business results- sales and revenue growth impact compensation budgets. Find out more about total compensation / total rewards strategies.
In the past, variable compensation was more likely to be present at C-level or within the sales organization. Today, it has permeated into many different functional areas and has become integral to effective performance management systems. The end goal is to attract, motivate and retain skilled employees and strengthen the performance of the organization.
Arcus will develop a highly customized compensation solution that will be aligned with your expectations, the strategic plan and business goals of the organization. The approach will take into consideration:
- A “current state” analysis and report to define benchmarks and desired outcomes
- The organizations reputation and HR strategy for recruitment
- The compensation framework that would best meet the organization’s budget and goals
- A performance management system that is aligned with specific strategic outcomes
Other actions will include:
- An evaluation of competitive compensation plans and market salary benchmarks
- Incentive plans that will deliver the best results
- Pass all plans through a legislative compliance filter to mitigate risk
- Pay equity benchmarks that are consistent with the performance management plan
Subject Matter Experts
Arcus has over 200 subject matter experts who will augment team and provide cutting edge knowledge and ideas to your project in a diverse range of areas such as pensions, benefits and reward mechanisms.
Contact Arcus to schedule a call/meeting to discuss how we help you with a plan for your Compensation and Incentive Strategy that is aligned with your organization’s compensation budget, strategic plan and business priorities.
Please click on the links below for additional information or contact us to schedule a call / meeting or us to discuss how we could leverage our tools to meet your requirements.
Job Evaluation and Impact Measurement
Organization Wide Compensation and Rewards
- Compensation planning
- Base compensation
- Total compensation / total rewards strategies
- Incentive planning
- Compensation and Job Evaluation outsourcing
- Annual incentives / variable compensation
Arcus offers services in all the key areas that impact executive and organization compensation:
Board advisory
Compensation Design
Incentive planning
- Incentive plan development
- Compensation disclosure planning
- Market Benchmarked Board Compensation Design
- Expert Witness Consulting Services
Please click on the links below for additional information or contact us to schedule a call / meeting or us to discuss how we could leverage our tools to meet your requirements.
Related information
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- Change Management Programs
- Change Management Insights
- Arcus Change Management Model (ACM)