Classification & Compensation
RMB assists organizations with Classification and Compensation needs by ensuring that jobs and positions are appropriately classified, ensuring employees are compensated fairly and in alignment with the organizational compensation strategy. We assist organizations in establishing a systematic and equitable approach to job classifications and compensation structures. We assist organizations with the following:
Job Analysis:
Conduct thorough analyses of jobs and positions to identify key responsibilities, required skills, and qualifications.
Document job duties, responsibilities, and requirements through job analysis methods.
Job Classification
Develop and maintain a systematic job classification and job grading system.
Assign appropriate job titles, levels, and classifications to ensure internal equity and consistency.
Salary Structure Development
Design, implement, and maintain a fair and competitive salary structure.
Establish salary ranges for different job classifications, taking into account market data and internal factors.
Market Surveys and Benchmarking
Conduct market surveys to gather data on industry compensation trends.
Benchmark the organization’s salary structure against market data to ensure competitiveness.
Compensation Analysis
Analyze and evaluate the organization’s overall compensation strategy.
Review and make recommendations on salary adjustments and incentive programs.
Pay Equity Compliance
Ensure compliance with local, state, and federal laws regarding pay equity.
Conduct regular reviews to identify and rectify any potential pay disparities based on gender, ethnicity, or other factors.
Job Description Development
Work with HR professionals and managers to develop accurate and comprehensive job descriptions.
Ensure job descriptions align with organizational goals and are consistent across the organization.
Salary Administration
Work closely with hiring managers and department leaders to understand their needs, provide guidance on hiring best practices, and ensure alignment between recruitment efforts and organizational objectives.
Employee Compensation Education
Provide guidance to employees on organizational compensation philosophy and policies.
Offer information on salary structures, benefits, and total compensation packages.
Incentive and Bonus Programs
Develop and administer incentive and bonus programs.
Ensure incentive and bonus programs align with organizational objectives and motivate high performance.
Salary Negotiation Support
Assist in salary negotiations during the recruitment and offer process.
Provide data and guidance to hiring managers and HR professionals to determine competitive and fair offers.
Salary Budgeting
Collaborate with finance and HR teams to develop and manage compensation and salary budget.
Ensure compensation practices align with organizational financial goals.
Legal Compliance
Stay informed about changes in labor laws related to compensation. Provide HR legal guidance.
Ensure compensation practices adhere to legal requirements and regulations.
Continuous Evaluation and Adjustment
Regularly assess the effectiveness and competitiveness of the organization’s compensation strategy.
Make adjustments to salary structures and policies as needed to attract and retain top talent.