BUSINESS AND PROFESSIONAL SERVICES COMPENSATION

Overview:

The business and professional services industry provides a broad range of services to client companies. Companies in this sector are highly client-oriented, so engaging the proper talent across organizational hierarchies is essential, through compensation plan designs that help to attract, engage, and retain key talent in an industry where turnover is common.

As compensation consultants, Compensation Resources has extensive experience working with business and professional services firms to help them identify and tackle their compensation issues. We are determined to assist our clients in accomplishing their goals relating to compensation. We do not believe that “one-size fits all”, so our solutions reflect a tailored approach, supported by experience and best practices. Compensation Resources has a vast amount of research data to use for organizations in a variety of industries in this sector.

The services we provide include, but are not limited to:

• Base Salary Administration
  • Salary Structure Design
  • Staff Compensation Studies
• Board of Directors’ Compensation Studies and Advisory Services
• Executive Compensation Studies
• Incentive Plan Design
  • Annual Incentive Plan
  • Long-Term Incentive Plan (LTIP)
• Job Description Development
• Market Pricing / Salary Data
• Performance Management Programs
• Sales Compensation Program

Issues:

• Existing job descriptions were out of date and not accurate.
• Salaries were perceived to be below the competitive market level.
• Employee morale was low.
• Board was concerned with equity levels, option grants, and deferred compensation.

Solutions:

• Clarified compensation philosophy with senior management and the compensation committee.
• Market priced all benchmarked positions utilizing published surveys.
• Conducted a peer proxy analysis to determine competitive levels of base salary, annual incentives, stock option grants, restricted stock usage, perquisites, benefits, and deferred compensation arrangements for C-Suite positions.
• Conducted an analysis of individual compensation compared to the competitive market.
• Made recommendations to the Board to adjust the salaries and target incentive levels, as well as option allocation, where necessary, to reflect competitive market levels.

We are available to answer any questions you may have and to provide the necessary compensation consulting support to your organization. For more information, please contact:

Mary A. Rizzuti, CCP, PHR, SHRM-CP
Partner
201-710-6476

Sara D. Schmidt, CCP, PHR, SHRM-CP
Director
201-710-6478