Compensation & ANALYTICS
Every growing company faces challenges in structuring compensation, as the mix of base salary, bonus pay and equity evolves with scale. Our compensation service provides the strategy, market data and custom tools to manage pay practices in a way that is externally competitive as well as internally fair and consistent. Benefit from a data-backed performance review process, set competitive recruiting budgets, and correct for any internal discrepancies.
Our foundational compensation & levels product includes:
LEVELING. We create a level structure for all of the company’s key job families that will last for 2-3 years of growth. The structure is based on your employee data and market conventions, and will allow you to appropriately budget open headcount in addition to reviewing current employees. As part of this process, we meet with leadership to validate or make changes to level estimations.
COMPENSATION. Market based salary ranges for all levels and job functions in the US are provided to evaluate both external competitiveness and internal equity and can be reviewed at the company, functional team, and individual employee level.
CONSULTING & ADVICE. This includes advice and best practices throughout the engagement around total rewards and compensation principles and planning, including bonus and equity (if applicable).
COMMUNICATIONS. We create custom materials to communicate with your executives and all employees about compensation principles and competitiveness, as well as process and expectations.
COMPENSATION TOOL & VISUALIZATIONS. A custom excel-based tool is created for leadership to manage compensation changes consistently and within budget, in alignment with the market and company levels, as well as individual performance. This also includes data visualizations to aid in understanding and communication of the company’s competitive position in the market.
Some additional services can follow the Leveling & Compensation framework, including a competency matrix, diversity review and equity planning.
COMPENSATION ESSENTIALS
Analyze your compensation and align your pay practices to be competitive with the market using Gray Scalable's newest product, Compensation Essentials.
Compensation Essentials gives startups everything they need for a thorough compensation analysis, including:
+ A leveling framework
+ Salary ranges
+ And an analysis of market competitiveness
This is perfect for organizations that want compensation and leveling basics without the hands-on consulting we provide as part of our standard engagement. Given the current remote work environment, it’s also a way for any leader who has been tasked with answering the question “are we paying competitively and fairly?” to get the information they need.