Getting Competitive and Equitable with Employee Compensation
A compensation strategy should improve retention rates and remove ambiguity around fair pay
A Detroit-based non-profit company needed compensation reviews for 11 members of their leadership team. Compensation reviews had not been conducted in five years, and the company wanted to ensure they paid their employees equitably. Often, non-profits have limited budgets and ensuring fair wages can be tricky in this sector. This company wanted to retain their top employees and ensure their compensation aligned with others in the industry and location.
TREW met with the HR manager to discuss compensation benchmarking for their leadership roles compared to nonprofits in their area. First, TREW professionals worked with the HR manager to set local boundaries to ensure we received the most comparable and relevant data. TREW benchmarked 15-20+ additional compensation and compiled the data for reliability and validity. Finally, we provided the client with a minimum, average, and maximum salary per position. This data gave the client insight into where they might lag and lead with their wages.
The client’s goal was to ensure they paid their leadership wages equitably, and the data showed they were paying above market salaries comparatively. The client was excited to have this comprehensive and detailed data from TREW to put them at ease regarding their current compensation structures.