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Performance-Best Compensation

Is what you pay your employees giving you heartburn?

Compensation—commission based for producers and salary-based for staff—is quite often one of trickiest management issues. You can’t afford to pay too much but if you don’t pay enough, you can’t hire or retain quality staff. After all, money is what it’s all about. Right?

Well, no. Money—salary—commission—bonuses—raises—money is not what it’s all about. But unquestionably, an inadequate compensation program will surely be a de-motivator. And it can keep you from being competitive in your job market.

Transformation Advisors can help you develop a compensation plan for producers and staff that helps you...

  • Recruit the best staff available talent
  • Retain these employees through motivation and incentives
  • Reward behavior that helps the agency meet its overall business goals

Because compensation has an important effect on the agency’s business strategy objectives, it is critical to link the compensation program with those objectives. When it comes to compensation planning, that’s job one.

Then, and almost as important, compensation planning has to meet the needs of the people doing the work. So our planning model includes understanding

  • What other agencies do
  • What the best agencies do
  • What will work for you

The Transformation Advisors Performance-Best compensation model asks you to think in terms of total compensation—wages and benefits, as well as all other rewards both financial and intangible.
We’ll help you think about what employees need to do to meet the agency’s business goals (things like boosting productivity, updating agency culture, improving workflow processes, increasing customer satisfaction, etc.), and then make certain that the compensation plan rewards those actions.

Producer and Staff Plans differ. The Performance-Best compensation model addresses both.

Producer Compensation Plans Non-Sales Staff Compensation Plans

Strategic doesn’t mean static. And since external conditions and agency operations are not static, your philosophy and approach to compensation may not be either. We can help you with ongoing evaluation and modification so compensation stays aligned with changes in agency structure, employee responsibilities and overall agency mission. And the marketplace.

And because change is sometimes painful, we also help you with strategies to implement new plans without breaking faith with your team.

To take a strategic approach to producer and staff compensation. For incentives that support your strategic goals. For compensation plans that reward the best employees for their best efforts without breaking the bank...

Fill out our on-line form or call Transformation Advisors at (530) 295-1083.

 

 
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