Compensation Planning

To ensure alignment of your business plans, organizational culture, and total rewards programs, MRA collaborates with your management team to define your total rewards strategy and works with you to develop a detailed plan for effective implementation.

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Appropriate base compensation levels help attract and retain high-caliber employees while supporting the objectives of a fair, equitable, and defensible pay program. We help companies develop effective base compensation programs by:

• Establishing market pricing for all of your jobs or segments of jobs to assess the competitiveness of your salaries.
• Applying MRA’s job evaluation system to internally classify jobs, develop a job hierarchy, and ensure internal equity.
• Developing a salary grade structure, merit matrices, and salary administration guidelines and communication tools.

An effective incentive plan aligns employees’ day-to-day responsibilities and actions with the achievement of key business results. MRA works with you to design new incentive plans or assess the effectiveness of existing plans for all employees, management, or specific work teams.

Why do companies implement variable pay plans?

Increasingly, organizations are seeking pay plans that align employee results with the results of the organization. Variable pay enhances compensation structure to attract and retain talent. Typically a variable pay plan shifts a portion of an employee’s compensation costs from fixed to variable. This allows organizations to align compensation expenses with results. In essence, the organization shares success and risk with employees.

Using variable pay as an incentive encourages improved performance and motivates employees to develop their potential abilities. A flexible pay program allows organizations to adapt to changing economic and competitive conditions.

Other benefits of variable pay plans include the ability to reinforce teamwork and inspire and encourage behavior changes to support an organization’s goals.

MRA’s compensation professionals lend their expertise to help your organization identify objectives, cultural readiness, ability to pay, and funding options while developing clear communication plans. We’ll work with you to design a plan for your organization:

• Spot or special recognition bonuses
• Sales plans
• Business incentives
• Team-based awards
• Gain sharing or productivity awards
• Profit sharing plans

MRA’s compensation professionals have extensive experience to assist you to develop a variable compensation plan that delivers the results you want to achieve.

Sales Compensation

MRA partners with your sales management team to develop sales compensation plans. This may include identifying sales compensation strategies or assisting with the evaluation, financial modeling, and revision of existing incentive/commission plans.

Executive Compensation

Ensure your leaders’ results are appropriately linked to their compensation. MRA assesses your executive management team’s total compensation to confirm that your programs are competitive in order to attract and retain top leadership talent. This appropriately aligns executive compensation with long-term business strategy and key stakeholder interests.

Having clear job descriptions, classifications, and grades can improve performance and morale. MRA assists you in evaluating your job descriptions for clarity, content, and appropriate Fair Labor Standards Act (FLSA) classification. In addition, we provide management training in wage and salary administration.

Members who participate in MRA salary and benefit surveys receive the survey reports free – an $8,400 annual value! Use empirical data to ensure your company is not overpaying or underpaying employees. Custom salary and benefit surveys targeting key positions and markets also are available. Contact our survey team if you have a specific need for a custom survey.

MRA members receive value pricing on all services.