Knowing when to
look outside your organization for assistance can make the difference
between success and failure. It may be necessary to secure outside advisory
resources when you face the following situations.
- When objective,
unbiased, third party recommendations or observations are necessary
to help ensure that equitable, fair and competitive programs are implemented.
An outside resource can provide an opinion or develop a program from
the unique perspective of not having a vested interest in the outcome.
- When your organization
does not have the internal resources, talent, data or expertise to
explore all alternatives to ensure that the best possible programs
are implemented to motivate your executives and employees.
- When time constraints
do not allow the development and implementation of priority programs
that are needed to meet your objectives and to support strategic and
tactical business plans.
- When compensation
and benefit projects are a one time event making it more economical
to secure outside resources than to incur the costs of permanent in-house
personnel.
Utilizing outside
resources to accomplish your objectives is not an admission of a negative
situation within your organization. Rather, it is recognition of the
importance of the compensation and benefit issues you face. As an outside
advisory resource - to you and to your organization -The Compensation
Resources Group recognizes the importance of compensation programs that
are sound, effective, equitable and motivational.
"CRG gives
the compensation committee of the board the feeling that we are paying
our executives appropriately and based on market conditions. We look
at the business plan, and develop incentive bonus plans that are keyed
to meeting certain targets that are articulated in the business plan.
We feel we're paying at market for the services of the best people
we can find and the incentive compensation is based upon performance
of the management team in terms of achieving the financial targets
and other goals and objectives of the plan."
Walt Winding
Board of Directors Member
Winding and Associates, Inc.
Knowing that
you don't know and knowing where to get help is critical!
