Challenge
Expert Human Resources had provided multiple services to the MTA (450 employees, 3 collective bargaining agreements) for 2 years, including, performing executive recruitments and conducting an HR Audit of the hiring process. The organization began to experience turnover of key executive staff and was concerned that turnover might continue. It was noted that the MTA had utilized the same management compensation plan and benefits program for approximately 30 years. This led to the organization’s interest in determining if the pay grades were competitive to the market, and, if the benefits offered were aligned with current benefit levels of similar organizations.
Based on the above situation, the MTA requested an evaluation of the entire compensation system to include up-to-date compensation schedules, appropriate for the MTA.
Solution
Expert Human Resources conducted compensation/market study, which included:
- Establishing and creating a compensation policy, philosophy, and strategy
- Reviewing, revising job descriptions; determining competencies required to complete job duties
- Determining external market sources and conducting market research
- Developing pay structures, creating salary ranges, and updating benefits
- Identifying risks based on research
- Reviewing compliance with regulations
- Determining cost saving opportunities and areas of improvement
- Composing a comprehensive compensation and benefits report
Results
- Avoidance of workplace litigation based on pay issues
- Improved attraction of high-quality, highly qualified applicants
- Increased employee retention and job satisfaction
- Reduced distraction of CEO involvement with compensation issues allowing increased focus on strategic issues
- A clearly defined compensation process; allowing more accurate compensation decisions
- Upgraded benefits program
- Improved confidence in compensation decisions
- Enhanced work flow; creating an improved organizational image
- Improved job fit