© Creative Compensation Solutions, Inc. FAQ - Frequently Asked Questions

Q: I don't know if the salaries for my company are competitive.  What should I do?

A: In order to determine the competitiveness of your compensation programs you should conduct an overall analysis of compensation.  This includes comparing your base salaries, short term incentives, long term incentives, and benefits to your competitive market.

 

Q: What is included in a Compensation Analysis?

A: CCS will analyze base salaries, short term incentives, long term incentives, and benefits.  A report is generated which indicates your competitiveness in each of these areas.  The report also includes recommendations.

 

Q: If I engage CCS to conduct a Compensation Analysis, how much work will I have to do?

A: There is very little work involved in requesting a Compensation Analysis.  Most clients spend less than one hour gathering the required information to perform the analysis.

 

Q: How long does it take to complete a Compensation Analysis?

A: The time required to complete a Compensation Analysis depends on several factors; however, most analyses can be completed within 4-6 weeks after the required data is obtained by CCS.

 

Q: What is the cost of obtaining a Compensation Analysis?

A: The investment required to obtain a Compensation Analysis is dependent on the size of the organization.  You should e-mail usto request a proposal.

 

Q: How do I determine what my market should be?

A: Each company should determine their market based on the goals and objectives of the organization.  Many organizations use different markets for different levels of jobs.  These markets are typically defined based on the geographic region from which the company would recruit for specific jobs (i.e. local markets for clerical jobs and national markets for top management jobs).

 

Q: What survey data does Creative Compensation Solutions, Inc. utilize?

A: Creative Compensation Solutions, Inc. subscribes to several different surveys.  CCS also coordinates several association surveys.  Clients may provide survey data from various sources.

 

Q: What is a formal compensation program?

A: A formal compensation program is one which is designed to attract, retain, and motivate personnel.  It typically includes formal salary grades, a performance management system, and salary administration guidelines.

Mr. Wayne Vicknair conducting a compensation seminar in the New Orleans area.