Effective pay programs can help your company succeed. Although this seems obvious, many companies struggle with how to set up a compensation structure.
It’s important to strike a balance between the pay levels for employees inside the company (internal equity) and the pay levels those employees could command in the company’s recruiting markets (external equity). MRA’s compensation professionals provide a variety of compensation services to help you navigate through these complex issues.
We offer a wide range of compensation services, including:
Base Pay Structure
From benchmarking current pay ranges against market to ensuring internal equity, MRA can help you build a compensation structure that reinforces a strong workforce.
Job Descriptions, Pay Grades, Classification Structures
Having clear, appropriately graded job descriptions, classifications, and grades can improve performance and morale. MRA can assist you in evaluating one or all of your job descriptions for clarity, content, and correct match to position level. We can also assess your current classification system to ensure appropriate groupings.
Pay for Performance/Variable and Incentive Pay Plans
Many companies have had to hold the line on pay increases but want to provide true pay-for-performance incentives. MRA’s compensation experts can design an effective, understandable variable pay/incentive plan that advances your business goals and engages employees.
Ensure your leaders’ results are appropriately linked to their compensation. We can review and create employment contracts, severance and retention agreements, as well as nonqualified deferred compensation arrangements and equity-based compensation.
Wage, Salary and Benefit Surveys
Members who participate receive salary and benefit survey reports free. Custom surveys are also available.
In addition, our experts can conduct positions evaluations, review gain sharing plans, provide management training in wage and salary administration and more.
MRA members receive value pricing on all services.