Compensation Calculator & Philosophy
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Compensation Calculator & Philosophy

Design your bespoke pay strategy and then benchmark your entire organisation against it

🧗‍♀️ Challenges

You’re struggling with…

😕 Making sense of the data from an external salary benchmarking provider

😕 No defined salary structure for each of your roles

😕 An unstructured approach location based pay

😕 Wanting to show the salary ranges on your job adverts but too nervous to do so

😕 Understanding who is underpaid and what it will cost to make any adjustments to pay

😕 Accurately forecasting the costs (salary and equity) for future hires

😕 Communicating the ‘how’ and ‘why’ you pay what you pay i.e. you have no compensation philosophy

😕 People questioning how pay is calculated which is leading to a lack of trust in the numbers

🎯 Solution

1️⃣ Compensation Calculator

A simple, customisable spreadsheet which allows you to…

✅ Ingest data from multiple external salary benchmarking providers

✅ Set a pay strategy for each team using market percentiles and competitiveness for that role

✅ Build a location based pay strategy that aligns to your unique organisational beliefs

✅ Benchmark employees and teams at scale to uncover where pay inequities exist by level, dept., gender and race

✅ Discover what it will cost to bring employees who are underpaid to your desired market percentile and create department budgets

✅ Instantly normalise all salaries into one currency to allow for accurate budgeting

✅ Plan and run your pay review cycle using performance scores set by you

✅ Accurately forecast the costs for future hires no matter where they’re located in the world

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2️⃣ Compensation Philosophy

Transparency and trust is key when it comes to compensation. The compensation philosophy is that 🔑

✅ To begin with, your compensation philosophy will help you frame and make decisions when you start pulling levers in the compensation calculator.

✅ Once you’ve crunched the numbers, you’ll be able to confidently document the how and why your organisation pays the way it does, based on your culture, values, and financials.

✅ The template isn’t all about base salary. There are placeholders for you to slot in other elements that make up your total reward offering (equity, benefits & perks, bonuses etc).

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👉
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  • If you’d like to learn more about the compensation calculator and compensation philosophy, please take a quick look at Option 1 on this page
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    What we do
    before booking in a call using the link below
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This website was built without code using Notion + Super ⚡️ by Alistair

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