Structuring competitive Compensation and Employee Benefit Plans is often a very delicate balancing act. If a company’s pay and employee benefit rates are too high, they can hurt profitability and impact future growth. If pay and benefit rates are too low, employees may be easily swayed to “jump ship” and join the competition.
Carefully developing Compensation and Employee Benefit Plans (based on current labor market data, economic conditions and performance standards), is one of the best ways to protect your organization from these threats.
Companies engage MCDA CCG to design, analyze and develop competitive Compensation and Employee Benefit Plans that attract, retain, and reward high performing employees. The benefits of effectively structured plans include:
- Reducing overall labor costs
- Attracting, retaining and rewarding top talent
- Increasing a workforce’s return-on-investment
- Enhanced insurance broker relationships
MCDA CCG’s proven experience enables us to provide a wide range of Compensation and Employee Benefit Services including:
- Compensation programs
- Job descriptions and performance evaluations
- Policy development for statutory requirements
- Performance management strategies
In today’s globalized economy, it’s the quality and commitment of a company’s workforce that has the potential to either drive true competitive advantage…or weaken it.