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A well-designed compensation structure can increase the competitiveness of talent acquisition efforts, motivate employees, and minimize risk while meeting pay transparency requirements.
Phase I: Alignment and Job Architecture Development
DCI can assess your organization's roles, categorize your positions based on relevant factors to establish a structured hierarchy, and define a clear pathway for advancement. We will then work with stakeholders like management, human resources, and legal to determine the appropriate compensation system parameters, including compensable factor identification, geographical differentials, and pay range sizes. Applicable local, state, and federal laws will be taken into account as well.
Phase II: Benchmarking
DCI will match your organization's job families, levels, and descriptions to market data, while controlling for appropriate variables, and develop a custom job leveling guide to help identify the correct placement of your organization's jobs.
Phase III: Pay Band Creation
DCI will establish salary ranges for each job family, considering factors such as experience, education, and performance within 25/50/75th percentiles, while also comparing external competitiveness and analyzing market trends. By doing so, your organization can align employee pay with market rates while considering your budget and internal equity.
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