Consolidate and Equalize Compensation Plans
A national trade association representing manufacturers, distributors, and contributing associates needed to consolidate the regional compensation programs into one, centrally-managed compensation and perquisite program. In addition to providing marketing and technical support to its members, the organization conducts national trade shows and represents the industry in legislative and regulatory issues.
The trade association consolidated four regional trade associations into one national association with regional offices across the country. In order to complete the transition, the organization wanted to consolidate the regional compensation programs into one, centrally-managed compensation and perquisite program across offices and comparable positions.
Initially, people in similar positions at separate offices were being paid differently and receiving different perquisites. In addition, the various Boards of Directors had minimal exposure to compensation reviews. They had very little experience with the analysis and process involved, including the implications. Each regional Board requested a final presentation by Findley Davies of its report findings.
Findley Davies partnered with this organization to research and discuss all jobs with the CEO, CFO, and the regional market leaders to determine where the differences were and where there was job overlap. Next, Findley Davies conducted a comprehensive market compensation and perquisite review for each regional office and for the trade association as a whole.
Based on this market knowledge, Findley Davies' report recommended changes to make compensation and perquisites consistent across offices and competitive within the market. In addition, the report highlighted overlapping jobs and suggested appropriate salary packages to equalize compensation, as well as evaluated all jobs compared to market and recommended compensation changes to be more market competitive.
Finally, Findley Davies prepared final reports for the national trade association and each regional Board. Findings were presented to the national Board as well as the Board for each regional office.
The national trade association appreciated the thorough review and Findley Davies' willingness to explain findings in detail to each regional Board; specifically Findley Davies' efforts to attend all of the Board meetings. In an email, the CFO and VP of Administration stated that Findley Davies' consultant "did an excellent job presenting the compensation study to their Board of Directors. She had answers to all of their questions and made them feel comfortable with the data and the methodology. That was a major accomplishment for her since that group probably had a tendency to discount the report findings prior to the meeting. After hearing her report and answering all of their questions in a manner they could understand, she changed their minds. Thanks again [to Findley Davies] on a job well done on this project."