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Services
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Compensation program
advisory services provided by CRG include:
One of the most
powerful tools available to management is a strategically designed compensation
system that supports an organization's business plan, reinforces its
unique culture and rewards employees when they contribute to the company's
success. A properly designed compensation system can send a powerful
message to your employees to become stakeholders in your company's success. Learn more at www.compresources.net.
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Executive
Compensation Plans
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Executive compensation
plans balance the short and long term objectives of an organization.
These plans are installed in closely held, privately owned and publicly
traded companies of all sizes. Utilizing stock options, phantom stock,
performance share plans, restricted stock and other forms of nonqualified
compensation vehicles the compensation of key executives is directly
linked to the financial success of the organization.
Companies strengthen
the link between owners and key executives by establishing stock award
or purchase plans that require executives to have a financial investment
in the company which helps stimulate entrepreneurial behavior by creating
real or perceived ownership. The goal of executive compensation plans
is to create an ownership mentality in the executive team rather than
an employee approach to management.
Through properly designed executive compensation programs executives
can receive significant financial rewards for enhancing ownership's
or stockholder's value in the organization. Learn more at www.compresources.net.
"He articulates
the salary ranges and the market in terms of how we pay executives,
the total compensation programs including bonus potential and health
benefits. He makes sure we have some basis for what the market is
for paying these top executives that the board is responsible for."
Walt Winding
Board of Directors Member
Winding and Associates, Inc.
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Sales
Force Compensation System
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Sales incentive
plans are designed and implemented to motivate the sales force to identify
customer needs, to meet sales forecasts and to sell the proper mix of
profitable goods or services while performing the sales function in
a cost-effective manner. A properly designed sales incentive program
identifies the type of sales person required (hunter vs. farmer); the
correct motivational mix of base, bonus and commission and takes into
account the length of time and the level of personal selling that is
necessary to close a sale. Each of these elements must be considered
in the design process to achieve an effective sales incentive program.
Sales incentive plans help focus sales activities on ownership's desired
objectives. These plans will motivate high performers to greater levels,
help control the cost of selling, maximize the return on sales expenditures
and allow for meaningful assessment of the sales force's performance
through a financial reward system. Learn more at www.compresources.net.
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Management
Incentive Plans
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Management incentive
plans are typically short term in nature and link the incentive pay
of the management team to the accomplishment of the annual business
plan objectives. Annual incentive plans will focus management's attention
on the key result areas of the organization. These plans will typically
measure individual and team performance and provide a meaningful return
to investors before an incentive is paid. Management incentive plans
can be extremely instrumental in improving financial results because
of the direct and immediate linkage between an organization's performance
and management's incentive compensation. Learn more at www.compresources.net.
"The incentive
compensation program created by CRG is designed to work in concert
with TCI's performance management system. It is intended to quantify
the potential financial impact to an employee when both TCI and the
employee meet their stated financial and operational goals. By virtue
of the program's design, management made a big step forward in bridging
corporate goals to individual goals."
Steve Copp
President/CEO
Trans-Coil, Inc.
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All
Employee Incentive Plans
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Gainsharing plans
are group incentive plans that require teamwork, open communication,
participative management, and most importantly, commitment. Gainsharing
plans require broad employee participation. Most, if not all, employees
share in gains realized from expense reduction, increased productivity
and improved quality that result from the direct contribution of employees
to an organization's success.
Gainsharing plan's objectives include:
- Creating a WIN
WIN work environment.
- Being self funded
with flexible targets.
- Striving for
continuous improvement.
- Tying rewards
directly to productivity and quality enhancements.
- Creating an employee
awareness of the organization's values and culture.
- Encouraging employee
involvement.
- Promoting employee
and management interaction and communication.
- Being fair to
employees and the organization.
- Reduced employee
turnover and absenteeism.
Gainsharing plans
can only meet their objectives if the proper culture, philosophy and
commitment are present on the part of management and all employee groups. Learn more at www.compresources.net.
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Base
Compensation Plans
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Base compensation
plans are installed to provide equitable, competitive and systematic
base pay determination throughout the organization. Well designed base
pay plans are defensible, fair and easy to communicate. These plans
help to recruit new talent, control payroll costs and reward employees
based on performance through a merit pay system.
A complete base compensation plan will address internal and external
equity by utilizing a quantifiable position classification program,
conducting an objective market study, documenting duties and tasks in
job descriptions and developing salary policies and procedures.
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Performance
Management Systems
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Performance measurement
is the heart of performance based pay. One of the reasons that performance
measurement systems fail is that they are not linked to the business
planning process. Managers and employees should know what the business
objectives are, how those objectives are going to be measured, what
is the expected level of performance and the reward to the employee
for achieving those objectives.
Performance measurement
can better be termed performance management. It is a system through
which we manage performance to achieve individual and organization success.
As a management tool, performance management is a never ending process
of evaluation, communication, development and improvement. Learn more at www.compresources.net.
The objectives of a Performance Management System include:
- Creating employee
awareness of what is valued by management.
- Improved individual,
business unit and organization performance.
- Linkage of business
plan with individual employee objectives.
- Recognition of
employee contributions.
- Fair and consistent
treatment of employees.
- Improved, open
communications.
- Building on the
strengths and correcting deficiencies.
- Employee development
and coaching.
- Providing justification
for personnel actions.
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