Compensation Review

A precursor to most compensation engagements, the Compensation Review provides the contractor or engineering firm with an extensive evaluation of its overall business practices with a specific focus on compensation & rewards. A review of a firm’s financials is included to ensure that both appropriate measures are developed and that the plan is affordable. This evaluation will show a comparison of your organization’s performance relative to similar industry firms and provide the foundation for recommendations targeting specific underperforming areas and issues that need immediate attention. Findings and recommendations will be developed for each of the following categories:

  • Human resource management and organizational design
  • Marketing, sales and business development practices
  • Project execution and control systems
  • Fixed asset management practices
  • Financial management practices and financial performance
  • Management Information Systems
  • Safety and risk management practices

Additionally, FMI will focus closely on the following areas that affect total rewards plan design:

  • Pay Philosophy
    • Development
    • Communication
  • Base Salary Administration
    • Benchmarking of base and total cash compensation to the market
    • Pay structure
    • Annual pay adjustments
  • Performance Management
    • Process
    • Tool
    • Delivery
    • Evaulation
  • Short-term Incentive Pay
    • Sales commissions and bonuses
    • Project awards
    • Management by objecitves (MBO)
    • Company or group/division performance
    • Discretionary and non-discretionary awards
    • Legal compliance to meet Fair Labor Standards Act (FLSA)
  • Long-term Incentive Pay
    • Qualified deferred compensation
    • Nonqualified deferred compensation
    • Plan funding
  • Career Development and Training
  • Recognition and Rewards
    • Cash and non-cash awards
    • Extrinsic vs. intrinsic awards
    • Spot awards
  • Work/Life Programs
  • Compensation Delivery
Click here to learn more about FMI's Compensation Review.

If you would like additional information about our general management-consulting services, please contact Vance Boyles at 602-772-3428.

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