Signs You May Have Outgrown
Your Current Pay Practices
When your company was smaller, less formal pay decisions worked. Now, those practices are slowing you down and costing you talent. It's a sign you've outgrown your current approach and need a strategic plan.
Compensation
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You feel like you are constantly guessing on pay.
Every new hire feels like a negotiation from scratch, and you're not sure if you're offering too much or too little. This leads to internal pay inequity and a lack of trust.
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You are frustrated with market data.
You might have purchased a compensation survey, but you're not sure how to use the data effectively, or worse, you're using it to justify decisions rather than inform a strategic plan.
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You lack confidence in your program.
You feel like you're playing catch-up, constantly reacting to market changes or employee demands. You lack the confidence to know that you're paying fairly and competitively.
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Your employees are asking for raises, but you have little structure for giving them.
You want to reward performance and growth, but without a clear career path or salary bands, your raises feel arbitrary. This leads to resentment and confusion.
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You are worried about losing your best people.
You lose top talent, especially to competitors, and you suspect it’s because of compensation, but you can’t prove it. The cost of recruiting and training new employees is draining your resources and slowing down your growth.
Benefits
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You are concerned about losing talent to competitors with better benefits.
It's a constant concern when top candidates and even your current employees choose other companies because of more attractive offerings like better health plans, paid parental leave, or flexible time off.
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You feel like a help desk for employee complaints and confusion.
It's frustrating to constantly field the same questions about health plans or hear complaints that the benefits don't meet your team's needs. This signals a breakdown in communication and a lack of alignment that you're tired of dealing with.
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You're concerned your benefits aren't a good fit for your company's culture.
If you have a remote or hybrid workforce but offer perks focused on a traditional office, you probably feel like your benefits are missing the mark. You know the old model of free snacks and ping-pong tables doesn't resonate with today’s employees who prioritize well-being and flexibility.
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You worry your benefits aren't a worthwhile investment.
You've invested in a wellness program or an Employee Assistance Program (EAP), but you feel like very few employees are using it. Low utilization means you're spending money on benefits that aren't perceived as valuable by your team.
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You feel like you're in the dark about your benefits' competitiveness.
You're not sure what your competitors are offering, and you don’t have a clear way to know if your package is keeping up with market standards. This leaves you feeling vulnerable to losing key talent to companies that have a more strategic and modern approach.
Not Confident in Your
Total Rewards?
You are not alone. Many leaders are concerned about their compensation and benefits program but lack the time or expertise to address it.
This is where we come in.
Quick Assessment
Schedule a 30-minute call to see if there is something we can assist with.
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If not, often times we can make a referral to someone in our network that is well-suited to your situation.
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