Total Rewards Audit

If your company has some of the following issues, you may need a compensation audit:

Have you had employee turnover?

-Even one employee can impact your business

 

-To replace an employee with annual salary of $80,000, the cost to replace an employee is $120,000

 

-If 10 employees leave, the total cost is $1,200,00

 

-If your company's revenue profit margin is 10%, your company has to earn $12,000,000 to pay for these replacement costs

Do you believe your executives receive a competitive pay package?

Have you measured the effectiveness of your compensation programs?

Do you have sales incentive plans that provide the greatest rewards to those who contribute the greatest to meeting corporate sales goals?

Have you measured the effectiveness of your compensation programs?

Does your organization recognize performance achievement for long-term results (three to five year period)?

Are your pay levels competitive with those of other employers in your industry/geographical market?

Do you directly contact other employers to determine competitive wages?

Do you utilize a formal job evaluation system?

Are your policies and employee handbooks up-to-date to reflect recent changes?

Are employees CORRECTLY classified as exempt or non-exempt according to the FLSA definitions?