HCM Strategies (An Innovata Company)

COMPENSATION STRATEGY
ALIGN YOUR COMPENSATION STRATEGY WITH YOUR BUSINESS GOALS.
A succinct compensation strategy that aligns with your organizational values, culture, and goals is paramount. By tapping into our decades of human capital experience, streamlined processes, and unmatched analytical expertise, HCM Strategies can help you expertly craft a compensation strategy that will set your business up for long-term success and sustainability.
BENEFITS:

-Ensure that your compensation strategy is derived using a plethora of labor-market insights—not just a single source.
-Gain a real-world understanding of how your compensation strategy is playing into your overall organizational impact.
-Create the most accurate compensation packages that consider an employer’s unique situation, including, but not limited to, their experience, location, and role.

JOB CATALOG OPTIMIZATION
CONSOLIDATE AND STREAMLINE YOUR WORKFORCE CATALOG.
Within every organization the alignment of job classifications with market rates is essential to building the foundation of an approved compensation structure. This process is done by conducting a job catalog assessment in order to standardize job titles, levels, and descriptions across your workforce. Our technology can then analyze the data for redundancy, perform outlier analysis, compare rate assignments with market rate data and provide actionable recommendations to keep your program thriving.
BENEFITS:

-Avoid overpaying/underpaying workers who have similar skill sets within your organization and/or marketplace.
-Drive cost savings with an optimized workforce job catalog.
-Align job classifications and skills with up-to-date market rates.
-Define job levels within each job category for more precise rate recommendations