Restructure Compensation to Support Growth
Filed in: Total Rewards
Restructure Compensation to Support Anticipated GrowthA 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.
Design of Comprehensive Compensation StructureDuring 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.