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TOTAL REWARDS & COMPENSATION

Total Rewards Strategy

Total Rewards is a major factor in retaining, motivating and attracting employees. Our experts work with organizations in building a total rewards strategy based on the company’s business plan and cycle. We also assist in the delivery, documentation and communication of the strategy and/or the specific reward programs.


Job Descriptions/Profiles

A job description (position profile) is the foundation for establishing pay for a position and when benchmarking positions in the market place. Using a job evaluation system, we provide tools to ensure that the important concepts of a job are captured, documented and translated into a job description that is easy to use. We also capture the job data in a job information questionnaire (JIQ) that can be completed by the employee or manager and in turn, can be used to populate the Job Description.


Job Evaluation

Job evaluation establishes a job's internal relative worth to an organization by measuring a position's duties against pre-determined factors.

Optimum Talent assists in the development of a job evaluation program or gives advice regarding a current program, in providing a system that has a "turn key" approach that organizations can use on their own, on an ongoing basis. In providing necessary training internally to employees that are responsible for maintaining the job evaluation program, we alternatively evaluate the jobs and provide companies with a finished product.


Base Pay and Salary Administration

The goals of a successful base pay program will be consistent with an organization’s compensation strategy, perceived as fair within the organization, used to attract and retain employees, and easy to administer.

To achieve an affordable and workable base pay structure, our experts establish salary guidelines, which can be used on an ongoing basis and can be linked, if desired, to employee performance and/ or behaviours. We assist with adjusting annual salaries and salary ranges. We can provide you with a process to perform this annually.


Salary Surveys and Market Pricing

Our experts conduct market studies that provide competitive data for identified benchmark positions. This provides compensation that is consistent with an organization’s external labour market, to maintain external equity, by paying employees salaries and benefits at pre-established levels in relationship to salaries paid to similar employees in competitor organizations.
  • Data
    We use data from a variety of resources including information on positions among comparable organizations, information available to the organization, published surveys and our network of contacts and confidential data sources.
  • Analysis
    We conduct a detailed analysis of the compensation currently paid to your employees. This compares the market information we obtain, and identifies the relationship of your jobs to compensation levels paid by competitors. This ensures the compensation program is competitive both internally and externally and is a positive retention and motivational tool.

  • Pay-For-Performance

    Optimum Talent designs credible pay-for-performance programs that link salary increases to the performance levels of employees. These programs will motivate employees, reward those who are high performers and assist in achieving organizations’ goals and objectives that have a significant impact on the bottom line of the business.


    Variable Pay (Incentive) Plans

    Our experts evaluate existing variable pay plans and modify or design new programs tied to measurable financial and operational goals. This encourages effective planning, spotlights necessary actions and increases profitable business through focused performance. This will be useful to organizations to attract and retain key employees, meet goals, increase productivity and profitability and encourage and motivate involvement within the organization.

    We can assist with:

    • Management Incentives
    • Broad based Incentives
    • Sales Incentives
    • Executive Incentives
    • Long Term Incentives