SACS’ market-based approach to remuneration
SACS remuneration reviews are based on competency analysis and analysis of the dimensions of a role. Our approach is a market-based approach where we undertake job analyses in order to be able to compare roles within a client organisation with comparators in the general market. When we have gathered information about the levels of remuneration in these comparator organisations for comparable roles this allows us to recommend highly targeted levels of remuneration which will be appropriate for roles within our client.
At SACS, particular positions are effectively documented and quantified in such a way that very accurate comparators in relevant comparable organisations can be identified and data points gathered. When this happens, an organisation is able to be confident that it will pay the correct amount for each role.
The benefit of this approach is that it results in reduced flight risk of valued employees as well as providing the employing organisation with the confidence that is paying its employees “justly”.
How much should you be paying your employees?
The SACS approach to remuneration reviews is to make them factual, evidence-based, and extremely practical
We have done these reviews for an extremely wide variety of organisations, and have developed an approach that is based on the following:
- Development of competency structures for each position. We use this to determine the key knowledge, skills and personal and professional attributes required to effectively perform the role.
- Appropriate consultation with key stakeholders. This includes the incumbent and relevant advisors within the SACS network of contacts in the industry across Australia.
- Identification of marketplace benchmarks. We compare the position with similar positions within relevant organisations and locations.
- Recommendations on package structure. Our recommendations include practical guidance on how to structure the package.
- Linking into performance management structures. We do this to encourage and incentivise continued performance.
Let us explain how remuneration consulting and benchmarked solutions deliver effective, innovative remuneration strategies and plans.
Why Choose Sacs?
- We use a targeted and competency based approach to all remuneration consulting projects
- We interview you about the role and develop a simple competency profile
- We agree relevant comparator organisations with you – who should you be compared with?
- We agree your remuneration policy position (eg, “we pay in the middle of the market.)
- We go out and get data from the comparators
- We give very specific recommendations – “You should pay this role $120-130,000 + super + car and bonus of $10-20,000”
- We are able to tell you whether you are over or under the market and by how much