Use SMART Objectives for Compensation Consulting Projects

You know your company has a compensation problem and needs help. Perhaps you're losing employees who claim their salaries are not competitive with those offered by your competitors. Perhaps you need an employee incentive plan but don't know where to start. Maybe your performance management program is not producing the desired results. Whatever your [...]

How A Compensation Consultant Can Help Your Business

By Don McDermott at D.G. McDermott Associates We are often asked how, specifically, a compensation consultant adds value to a business. It's important that all businesses appreciate the importance of creating a well-thought through compensation strategy and incentive rewards structure because after your customers, your employees are the life blood of your business. Maintaining [...]

The Top Five Elements of a Strong Severance Pay Policy

By Tom Wilson and Susan Malanowski at the Wilson Group The below article highlighting the five key elements of a strong employee and/or executive severance policy is a summary of the compensation data compiled in the Wilson group's compensation survey: 2017 Severance and Paid-Time Off: Results from the Special Survey. Forty-five companies from a variety of [...]

Don’t Confuse the “Cost of Living” with the “Cost of Labor” in Salary & Pay Planning

By Susan Malanowski of Wilson Group In working with compensation consulting clients in the development and management of base pay programs, at Wilson Group, we frequently hear about or receive questions about the geographic "cost of living" being used to determine or justify salary and pay rates. For example, “our Stanford, CT location has a [...]