HR Consultants Discussing Compensation Needs

Compensation Consulting

Compensation & Benefits Solutions Tailored For Your Business

Any business owner knows that implementing a suitable compensation and benefits solution for their workforce is no easy feat. It takes a team to sail the ship in the right direction, and sometimes there can be too many folks at the helm or too many potential options ahead to choose from. Frazzled communications and diminished productivity are examples of the risks your business can therefore face along the way. However, an ideal way to avoid these pitfalls is to enlist the help of a compensation consultant. 

This is where our own compensation and benefits consulting services come in handy. Let us at True North HR Consulting help you chart a course to greatness, made possible by our commitment towards empowering and supporting employees and employers alike. With the right strategy – and by lending an ear – we can ensure the best possible solution and a streamlined integration!

How We Can Help

Here’s a glance at some of the ways our team of compensation and benefits consultants can assist your business:

  • Practical advice on the cost and impact of your benefits plans
  • Simple, easy solutions for small to large businesses
  • Plan design and evaluation
  • Renewals and negotiations
  • Success reporting
  • Evaluate current pay practices
  • Communication tools
  • Recommend compensation designs and tools to ensure market competitiveness
  • Vendor selection and implementation

Strategic Compensation Design

Big decisions are never easy, and it’s no different when it comes to benefits consulting. That’s why working with the True North team can serve as a breath of fresh air, streamlining the strategic compensation design process and helping you make better-informed, more impactful decisions. From pensions to savings plans and employee wellness benefits, we’re proud to cover ample ground – and without overlooking any critical details fundamental to your operations. With our perspective and passion, not to mention plenty of data analysis, we deliver a custom-engineered yet incredibly simplified compensation solution for our clients.

Effective Employee Communication

Keep your team in the loop by working with us to standardize more efficient, meaningful communications. The optimal approach, we find, is to deliver essential updates and ensure employees at all levels are fully aware of the compensation options available to them. We strive to actively engage and motivate by ensuring you establish an open, easy-to-digest informative dialogue, and we’ll provide plenty of tips and tools along the way. That added attention often translates towards improved employee enrollment, quality of life, and retention. Rewarding your dedicated and talented workforce has never been more straightforward!

Maximize Your Productivity

You no longer need to solely drive and decide on crucial compensation and benefits decisions. We collaborate with executive leadership and other levels of employment to ensure a more streamlined, non-intrusive approach to benefits consulting. Unlike select other compensation consulting companies, we don’t believe in cluttering your calendar or interfering with everyday productivity goals – you have enough to take care of as it is! Instead, the True North team integrates seamlessly with your current operations and processes, working around your availability while taking the planning legwork off your shoulders. Not only that, but the benefits and compensation approach we can help you integrate are optimized to encourage top talent to stick around, which itself can lead to improved production efficiency.

Pay Equity

If you are seeking optimal compensation consulting to achieve pay equity, your search can end here with confidence. We’re firm believers in a respectable living wage for employees of all levels. We’re happy to offer sound, practical advice informed by our many years of collective pay equity expertise, helping to make your company a more attractive and viable long-term employer for many gifted individuals – including those already working within your walls.

Let’s Go Over Your Benefits and Consulting Requirements. Get in Touch with Us Today!

Frequently Asked Questions

A compensation consultant looks at all aspects of the compensation packages you are currently implementing for staff at your organization. Their focus moves beyond direct compensation (like salaries) to indirect compensation, including benefits, incentives, and equity. A compensation consultant might evaluate your current compensation system and find areas for improvement where you can remain more competitive in your industry when looking to attract talent. Their process can also help to retain talent by better communicating with staff their worth to your company. This could mean implementing a new system or touchpoints to highlight their total compensation (a combination of direct and indirect compensation).
Compensation consulting can never hurt a business and almost always improves circumstances, even if a company thinks they don’t need this kind of consulting. Outdated packages or those that fail to consider employees’ concerns, like work-life balance, can hurt your business, potentially making your employees feel undervalued. While compensation is typically associated with take-home pay, it’s evolved to include much more. Many compensation packages focus on rewards like enhanced benefits, training credits, or stock options. If your compensation options don’t have direct and indirect compensation, a compensation consultant can work with you to determine the most important factors for employees.
Various businesses can benefit from compensation consulting. Most notably, those in higher-competition industries turn to compensation consultants to understand how to attract the right talent to their organization. Retaining your current talent by showcasing your investment in them is also a considerable benefit. However, any business, from small enterprises to large conglomerates, should have some kind of compensation review or consultation to keep their employees engaged and happy. Demonstrating your overall investment in employees shows them that you are committed to their happiness and quality of life both within and outside your organization.

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