Using Compensation Surveys and Analysis to Determine Employee Salaries
Are you overpaying your employees? Is the compensation package being contemplated for a new hire enough to attract top calibre talent? These are the types of questions that every small and mid-sized business owner struggles with frequently. You want to show your team and potential employees that their services are valued, but if you pay too much, you could hurt your business. Niagara Street Consulting can help you solve these challenges with the help of compensation surveys and analysis.
Niagara Street Consulting can work with your business and conduct detailed salary analysis for an individual position, department, or for your entire organization. During this process, we will use compensation surveys and analysis to better understand where your company sits with respect to its current compensation structure.
Our salary analysis services do not just help you establish what your employees’ current salaries should be, but also help you plan for the future. Our consultants will work closely with you in order to create short and long-term incentive plans. These financial plans will help you recruit new talent to your company, and retain your valuable existing team members, which cut down on large employee turnover costs.
The purpose of compensation surveys and analysis is not to short change any member of your organization, but to make everyone feel valued and appreciated, while keeping the businesses healthy and profitable. With the help of our salary consulting services, everyone wins.
If you would like to learn more about how compensation surveys and analysis could benefit your company, contact Niagara Street Consulting by calling 416.559.3301.