spark loyalty
Rewarding Performance - Compensation or Remuneration Planning
People expenses account for over 75% of total expenses for the typical advisory firm.
Your people are your most valuable business asset and when you have the right people on board, great things follow!
There are numerous ways to create value for your team members. A healthy business culture, opportunities for development and great benefits to name just a few. Of course, top talent will always have options which makes smart compensation planning essential for attracting, motivating and retaining the best people.
Compensation can be a prickly, complicated and confusing topic for many executives and unravelling long standing compensation issues requires specific knowhow.
Does your compensation plan reward the right activities that will move your business strategy forward? Have you blown out your people related expenses over the years compared to your competitors? Are team members confused or demotivated by your plan or business partners dissatisfied with their pay model? Worse still, is your firm culture a casualty of a poorly constructed compensation plan? Unfortunately, such challenges are not uncommon.
If you’re having trouble figuring out how to structure your compensation plan, we can help you develop your firm compensation philosophy and build a pay structure and a plan that supports both individual and firm-wide success. Our work ensures the optimal compensation model for each role type, while helping you effectively manage your people expenses and nurture a healthy firm culture.
Yes, it’s tricky, but there’s no need to go it alone. An arms-length perspective and guidance can be invaluable when it comes to paying your people. Talk to us about how we can help.
‘Bring Out the Best in Your People & Your Culture.’
Inspiring Talent - Performance Objectives, Career Paths and People Development
‘What is your business if not its people?’
If fostering an environment where talent can flourish is important to you, then building your human capital capabilities is essential to your success.
The data is clear. The biggest and best performing advisory firms demonstrate true commitment to the development of their talent. This probably doesn’t come as a surprise; it also doesn’t happen by chance. Career path planning, professional development and performance management are just some of the tools available to inspire and retain your best people.
We work closely with firm leadership to build your human capital management framework. This means setting smart performance objectives across the firm, mentoring and developing talent and tracking and rewarding individual performance, all tied to a well-defined incentive pay plan.
Speak to us about how to drive team member engagement, support talent retention and truly inspire performance by taking your people capabilities to the next level.
