Market Based Compensation | Compensation Program Development

By Tamra Tejada

For more than 30 years, The Croner Company has had the privilege of serving both our consulting and survey clients. Through our Surveys, we are able to provide you compelling market-based compensation and practices data that support you whether you are developing your company’s overall compensation programs or making daily recommendations for offers and promotions.

Through our consulting practice, we collaborate with you to craft elegant, clear and implementable solutions to the challenges you face in your ongoing compensation program development and administration.

As you plan for this year’s projects, we thought we’d talk a little about something special that happens in each of our client engagements. There is a time in every project where we experience a moment of stillness—a time that comes after we have grappled with the organization’s requirements, collected and analyzed the relevant data, and summarized our report of findings and recommendations, but before we present the results of our study. It is in this moment that we find time to truly reflect upon our efforts thus far and to prepare for the communications to come.

We take time out to ask ourselves questions to ensure that we are delivering on our commitments to our clients. We ask ourselves:

  • Have we identified and attempted to resolve the core issues within the project?
  • Will our client be able to implement and administer the solutions which we have developed?
  • Will our solutions contribute to our client’s ability to attract and retain key talent?
  • Do the recommendations contribute to the organization’s broader objectives?
  • And, given the budget and resource constraints of most companies, the last question we ask is: If our client does only one thing, what would we recommend?

We understand that your leadership relies on you to be aware of industry best practices and that you are constantly identifying opportunities to enhance your compensation programs—often prioritizing and reprioritizing your objectives based upon what will best serve your company’s needs.

As you begin 2015 and find yourselves drawn into the hyper-speed work life, we encourage you to remember to take a moment to ask yourselves the questions that are most relevant to your organization. We also encourage you to ask yourselves the question: “If we do only one thing, what would we recommend?” The answer may surprise you!

At The Croner Company, our objective remains to provide you the quality data and outstanding service upon which you have come to rely.  Should you have questions or find yourself in need of our assistance, please feel free to contact us at (415) 485-5530, we are just a phone call away.  We wish you great success in the coming year.

Tamra Tejada, Vice President, Consulting, manages The Croner Company’s consulting projects in the areas of sales compensation, executive compensation, base pay programs and short- and long- term incentive plans and equity compensation.  Tamra may be contacted at tamra@croner.biz.