Hickok & Boardman added a new Practice Area – Compensation & Classification Support
Do your compensation plans align with your business strategy and drive success for the organization? Hickok & Boardman HR Intelligence consultants and analysts will work closely with you to review, plan, design, and implement customized solutions to help your organization to be a leading workplace. We are flexible and responsive experts and we will help you achieve your goals.
Compensation Strategy & Program Development
We help you identify key organizational values and goals as the foundation of your compensation philosophy. Our consultants will work with you to define a clear and concise compensation strategy based on business needs and objectives. Create a compensation program that aligns pay and total rewards with business strategy, culture, and resources.
Job Analysis & Benchmarking
Performing a job analysis and benchmarking involves collecting and examining your organization’s current position information (such as organization charts and job descriptions) as well as interviewing leadership or jobholders.
The position data we collect guides our compensation market analysis, design of salary structures, and ensures you are making decisions based on relevant and accurate job information.
- Develop or update job descriptions
- Standardize job levels and titles
- Develop career paths and frameworks
Our team’s expertise allows us to effectively leverage analytics to help you shape strategy, refine that strategy and evaluate success over time.
Custom Market Analysis
We have extensive experience analyzing and advising on classification and compensation systems within large, complex, private, and public-sector organizations. This includes being sensitive to the nuances of a blended employee base of bargaining and non-bargaining unit employees, public funding and budgetary considerations, and broad-based stakeholder input.
Our consultants have access to a full suite of compensation tools, including a proprietary database with compensation market ranges for more than 5,000 benchmark jobs. The compensation data we utilize is developed using commercially available, reputable compensation surveys, each of which comply with generally accepted principles and practices of WorldatWork and U.S. Department of Justice compensation survey standards. These 5,000+ jobs spanning 75+ job families and levels can be analyzed against the pay market that matters to your organization. With 158 industries, 28 organizational sizes (based on number of employees, annual revenue or assets) and 50,000+ U.S. geographic locations, you choose the most relevant combination of industry, size and location to meet your needs.
Leveraging our access to these compensation tools allows us to analyze your organization’s current positions within relevant labor markets. We provide a detailed summary report and can age the data to assist with your future budget planning.
- Build competitive pay ranges
- Define competitive market position
- Incorporate outside data into market analysis as necessary
Salary Structure Audit & Design
Developing and maintaining current salary structures for your organization is critical to ensuring externally competitive and internally fair pay programs. Using relevant market data and your organization’s compensation strategy we can:
- Review current salary structures and highlight gaps to market and pay compression issues
- Update current salary structures to reflect new market rates or job moves within current grades
- Create new market-competitive and internally equitable salary structures
- Conduct cost impact analysis
Internal Pay Equity Analysis
Effective compensation design balances