The benefits and compensation package that a employer provides to employees is an integral piece of the puzzle that influences rate of retention. The “Total Compensation” package requires constant monitoring to ensure competiveness within the industry, local marketplace and effectiveness within the employee population.
Benefits and Compensation can include any combination of the following:
- Insurance – Medical, Dental, Vision, Life, Supplemental, Etc. (both employer sponsored and voluntary participation)
- Non-Traditional Benefits – Long Term Care, Sabbaticals, Etc.
- Employee Counseling
- Alternative Work Schedules
- Time Off – Vacation, Sick Days, Holidays, Flex-Time, Etc.
- Alternative Benefits – Childcare, Fitness Memberships, Work-Life Options
- Incentive and Bonus Plans
- Pay Structure and Policies
- Profit Sharing Plans
- Investment Opportunities – 401K, Savings, and Stock Option Plans
Advanced Professional Services provides assistance with your Compensation and Benefit needs by:
- Comparing industry salary data
- Conducting Job Analysis review for development (updating) of Job Descriptions
- Developing merit and incentive based compensation plans
- Sourcing low/no cost creative alternative benefits
- Reviewing and designing compensation structure
- Creating recognition and rewards programs
- Developing incentive and bonus plans