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Compensation Process

Compensation Process. November, 2008. History. 1988- Salary ranges were created. Salary Grades. Grade 9 Grade 10 Grade 11 Grade 12 Grade 13 Grade 14. Annual Compensation Process. Research & Analysis. Adjustments to Salary Ranges. June-October. Salary Budgets. November.

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Compensation Process

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  1. Compensation Process November, 2008

  2. History • 1988- Salary ranges were created Salary Grades Grade 9 Grade 10 Grade 11 Grade 12 Grade 13 Grade 14

  3. Annual Compensation Process Research & Analysis Adjustments to Salary Ranges June-October Salary Budgets November Annual Performance Assessments November January Communication of Assessments Merit Increases March April

  4. Research • Compensation Data • June - October • Economic Data • June - October

  5. Research Collection • International • Canadian and British Columbia Supplier • National • World at Work Survey • Employment Security Commission • John Deere • Local • Capital Associated Industries • Triad Compensation Data • Employment Security Commission - NC Salary Survey Salary Survey Salary Survey Salary Survey Salary Survey

  6. Economic Data • Newsweek • Kiplinger Letter • Consumer Price Index • Various Websites • Hewitt • BLR • The Conference Board

  7. Analysis • Compensation Coordinator and HR Manager • Salary Ranges • We also rate jobs for exempt status versus non-exempt status as needed.

  8. Executive Analysis • Attendees • President • Executive Vice-President • Vice-President& CFO • Human Resource Manager • Compensation Coordinator • Review of data • Executive analysis

  9. Salary Ranges are Adjusted • Salary Ranges are discussed • Decision on overall adjustment of ranges 9 +, 0, - 10 +, 0, - 11 +, 0, - 12 +, 0, - 13 +, 0, - 14 +, 0, -

  10. Salary Matrix is Adjusted • Matrix creates alignment • Peg or center point is established • Example Only:

  11. Salary Budget is Determined • Overall budget is established • Allows for flexibility

  12. Performance Assessments • Performance Management Process is followed • Assessments are completed • Overall Ratings are entered • Matrix is referenced • Example:

  13. Salary Ranges are Adjusted • Salary Ranges are discussed • Decision on overall adjustment of ranges • Example:

  14. Communication of Merit Increases • Communication Forms are distributed • Manager and/or Supervisor Communicates

  15. Annual Compensation Process Research & Analysis Adjustments to Salary Ranges June-October Salary Budgets November Annual Performance Assessments November January Communication of Assessments Merit Increases March April

  16. Example • Charlie Brown is a salary grade 9. • Charlie has a compa-ratio of 89.3% • Charlie was rated at an ME for this review period. • Resulting in a 4% increase. • Example:

  17. Questions

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