Compensation Strategy & Alternative Rewards

  • Variable Compensation, Gainsharing and Team Bonuses

  • Pay-for-Knowledge and Competency-Based Pay

  • Performance-Driven Base Pay Designs

  • Removal of Outdated Pay Programs

CHRS holds a unique position in both the original research and design of gainsharing plans and other forms of variable compensation. Based upon grants provided by the National Science Foundation, the US Department of Labor, and the GE Foundation, Dr. Schuster's original trend-setting work has served as a base for continued research today. We have installed and/or evaluated several hundred gainsharing plans. These designs frequently include the following elements:

  • Assessment and readiness evaluation

  • Financial analysis

  • Plan structure and measurement

  • Implementation training

  • Audit of existing plans

  • Redesign of plans for future effectiveness

  • Bonus programs to support fast-cycle completion of major projects, including new product creation

Pay-for-knowledge, skill-based pay, and competency-based pay programs reward employees for increasing the depth and breadth of knowledge and skill and the utilization of those skills. Pay-for-knowledge is often an extension of work redesign efforts.

  • Assessment and readiness

  • Task analysis

  • Design of knowledge and skill blocks

  • Development of technical, administrative and team training to support plans

  • Audit of existing plans

  • Redesign of plans for future effectiveness

  • Development of training & certification procedures

CHRS senior consultants have extensive experience establishing and revising base pay structures to make them more flexible, to increase their impact in driving critical business objectives, and to make them more cost effective.

 

 

 

 

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