Flex HR

Compensation

Most business owners realized the importance of compensation and admit that their employees are their company’s greatest assets; however, few reinforce this statement by investing in the development of effective rewards programs that align employee performance with key business objectives. Flex HR offers strategic and tactical solutions to help companies build and maintain a successful employee value proposition that facilitates the attraction, engagement and retention of top talent.

Most organizations struggle with how to pay their workforce. The rewards or results that employees receive for their work on the job should be delineated by a compensation structure. Typically, human resource managers set strict guidelines for how a worker’s wage can be achieved to improve productivity and organizational effectiveness. As a result, compensation systems play into the strategic goals of the company to grow its people, positions and revenue. Flex HR guides you through the maze of base pay, commission, overtime pay, bonuses, profit sharing, stock options, travel and meal allowances, and even company benefits received to fit individual culture and premeditated growth ambitions.

Total Rewards Strategy
A solid total rewards philosophy and strategy provides the foundation and direction for a company’s employee value proposition. Flex HR’s comprehensive compensation services include a collaborative approach to identify and prioritize values that will be reinforced through each organization’s total rewards program. This perspective helps create the guiding principles used to develop an appropriate pay strategy, identify competitors of talent, determine short and long-term incentive program needs, and establish the appropriate mix of fixed and variable pay.

Competitive Market
The design and development process of an operational employee value proposition program begins with a reliable comprehension of the market. HR specialists are accountable for researching, establishing and maintaining an organization’s pay system. Understanding the current competitive markets for employee pay rates can be tricky. Therefore, leaving this aspect up to a skilled and trustworthy HR professional is beneficial.

Key Benefits of Compensation:

- Stock incentives and profit interests
- Long term incentives
- Golden parachute for smooth transition of executive exit
- Performance plans
- Variable pay
- Career ladders
- Retention of employees through a total compensation plan
- Incentive plans
- Stock option management
- Executive compensation packages
- Executive cash accumulation retirement plans
- Profit sharing
- Competitive pay strategies
- Employment tax management for highly compensated executives
- Total compensation pay plans
- Share appreciation
- Salary structures
- Deferred compensation