In a BLR webinar entitled "Compensation Plan Design: The Three Cs for Achieving Success," Brooke Green, founding principal with Presidio Pay Advisors and Mary Topliff, Esq., founder of Mary L. Topliff law offices in San Francisco enumerated the various indications companies have for wanting to review their compensation packages:
- High turnover due to pay or poor corporate culture
- Maxing out because pay ranges are not competitive or are outdated
- "Promotion fever," which may be a product of managers reacting to salary ranges not being in line with market standards
- Difficulty recruiting
- "Everyone is a 5," e.g., managers offering highest performance ratings to bring salaries to market levels
- No turnover. Are employees being overpaid?
- To gain employee trust and demonstrate to the workforce the company is paying a competitive wage
Brooke Green is a founding principal with Presidio Pay Advisors (www.presidiopay.com) where she provides consulting advice and implementation assistance to clients with compensation support needs. Mary Topliff, Esq. founded the law offices of Mary L. Topliff in San Francisco (www.joblaw.com) after practicing civil and employment litigation for nine years. The firm specializes in employment law counseling, training and compliance.