Demystifying Compensation Studies

April 10, 2018 | 50 Minutes

Speaker: Donald G. McDermott, D.G. McDermott Associates, LLC

  • Help employees, managers, owners, executives understand the process by which pay is determined
  • Provide an objective review of the number of steps typically followed in evaluating current practices within the company/ organization
  • Understand/articulate the business objectives and competition for business and talent
    • Develop a philosophical framework for paying employees
    • Understand the process for gathering and calculating external information/data on market practices
    • Develop the compensation parameters
    • Assessing the application to each employee