Restructure Compensation to Support Growth
Filed in: Total Rewards
Challenge:
Restructure Compensation to Support Anticipated Growth
A fast-growing, privately held manufacturer of building materials needed to establish a formal compensation structure to better support its rapid growth and help it transition to a pay-for-performance company philosophy.Solution:
Design of Comprehensive Compensation Structure
During this engagement, The Chatfield Group teamed with management to restructure roles and reporting relationships. We also wrote job descriptions for every position and market-priced all jobs so they would fall within the company’s new pay structure and salary ranges.The Chatfield Group worked with management to introduce a formal, performance management program that aligns pay with performance. As part of this program, we designed performance-based incentive plans for both management and sales personnel. We also implemented a 12-month training & communications program to facilitate the company’s transition to a pay-for-performance philosophy.