Compensation Studies
What Sets Our Compensation Study Approach Apart?
- We focus our strengths by specializing in industries that we know we can be of great value. This includes higher education institutions, federal, state, and local governments, non-governmental organizations, utility industry, transportation, insurance, and health care industry.
- When we take on any engagement where compensation is the major element, we give more than the basic expected results. We do not just look at what the competition or the market pays for positions, we also look at all the other forms of compensation. Like variable pay that typically comes in both short and long term plans. So when we finally arrive at the implementation stage all our recommended actions are backed with financial impact that considers not just the basic salaries but also what it would look like as a total increase in payroll — with all the elements attributable to base and long/short variable pay plans .
Project Management
- We use agile project approach. Agile project management permit for shorter delivery time, while maintaining the level of quality assurance the clients expect.
Types of Research Data
- PGN HR holds two types of research data. One that we collect without being commissioned by any clients and another that we custom-gather according to clients' requirements.
- Our data collection method is robust. We update our database every single day as new data comes in. We constantly update our database through constant dialogues with organizations in the sectors and industries. We allow for "at-any-time uploads" through our Robotic Process Automation (APR) system. Additionally, we review strategic planning documents available publicly, and we monitor the market daily.
- We do not age our data. We do not have to age our data. Why? Because we design our survey so that we do not have to worry about time lapsing on us before we are ready to roll out data reports for timely implementation.
- We use linear algebra, cost of salary growth rates, cognitive job classification, and agile project management to deliver fast, accurate, and actionable results.
Spotlight on Due Diligence
Due diligence is one of the backlogs in the master list. Because due diligence cannot be completed simultaneously with the other tasks in the backlogs (since foundational information is needed to get acclimated with the client's present situation,) PGN HR consultants kicks off every compensation study initiative with one (1) full week of dialogues and collection of internal data. This user story uses 1, 3, 5, 8 Fibonacci sequence sprints. Meaning, we deliver something within the first week of the engagement (one week), another thing on the third week (three weeks), still another thing on the fifth week (5 weeks).
The topics of discussion, within the context of due diligence include: the over arching mission of the project, the overall timeframe, and the clients' strategic priorities. This is done within the first week of contract execution.
Spotlight on Labor Market Definition
The second and third week of the initiative will see us collecting all available and related institutional literatures, relevant corporate artifacts, and employee census that support our project objectives.
Spotlight on Data Analysis, Reporting and Cost Scenarios
By week 5, we deliver our initial findings based on discussions and internal data reviews.
