Case Study – compensation strategy for a manufacturer
Recently we worked with a private sector organization that was looking for assistance with its compensation programs. In addition to benchmarking, they were interested in analyzing all aspects of their cash compensation programs: base, bonus, and commissions. It was a great project because we learned as much from them and how they address these programs in a unique way.
This client manufactured products that were sold to both end consumers at retailers as well as industry.
We were referred to them by colleagues in the human resources industry; we are truly grateful for our colleagues who share our expertise with their clients.
Our project partners at the client were the Chief Financial Officer and Human Resources Manager. They said:
A trusted service provider of ours connected us with OA in late 2019 to help us review our compensation programs. We have operations throughout the country and employees performing a number of distinct and specialized work. We wanted to know if our approaches to base compensation and incentives like bonuses and commissions were not only competitive, but also if our programs drove our business strategies.
OA reviewed our compensation strategy and provided recommendations based on best practices and other data they collected. Throughout the project they met with us to review their findings and discuss recommendations. We had some great conversations that helped us think about our compensation strategies and make some appropriate adjustments.
Then, they worked on providing benchmarking data using both general survey data as well as industry-specific. Again, they worked with us throughout the project to explain their approach, their findings, and how we can use the information to inform our compensation decision-making.
OA worked with us extensively throughout the process to answer our questions, and they provided tools to help us manage our programs going forward. Their work has helped us ensure our compensation programs are driving our business strategies and assisted us with managing these programs.
Compensation planning, especially now, is critical. Organizations need to know what the cost of labor is [or might be], so that they can make the best decisions in this time of uncertainty. If you need assistance with your compensation programs or other HR consulting needs, contact us and check out other success stories to learn more.