Salary Budget Planning & Remuneration Environment Review
How Our Consultants Can Assist
Our consultants can help you to prepare a realistic salary budget that is geared towards supporting your business objectives and maintaining the competitiveness of your employees' remuneration packages. You will be provided with expert advice together with detailed information on the economy, the growth in salaries for particular areas of your business, the current business environment and expected 'hot' areas in remuneration. You will gain a clearer understanding of how much to spend on salaries and where in the business to allocate your investment. Our consultants can also help you to build business cases for managers and executives located in overseas head quarters.
Benefits Of CSi's Assistance
Armed with CSi's commentary, advice and recommendations, you can knowledgeably and confidently allocate salary spend to different areas of the business for the coming year, whilst ensuring your budget supports your remuneration, HR and business strategies and caters for external pay market conditions. This will contribute to business profitability and assist with attracting, retaining and motivating talented employees.
CSi's Methodology
Our consultants will work with you to understand and clarify how your salary budget fits into your remuneration, HR and business strategies and what your organisation aims to achieve with the salary budgeting process. They will then draw on detailed information from a range of reliable sources to tailor a report to assist you with formulating a realistic salary budget and designing a plan for how that salary budget should be spent. Such sources include:
- CSi's salary budget forecasts database
- CSi's extensive database of remuneration and benefits rates
- CSi's HR policy and practice trends database
- CSi's staff attrition database
- Economic statistics
- CSi's expert knowledge of current circumstances within different industry sectors
For further information on the way our consultants will interact with you throughout this type of an exercise, please refer to Our Approach
Format Of Results
Our consultants will typically provide a comprehensive report featuring key statistics in charts, graphs and tables with expert commentary, advice and/or recommendations. Alternatively, CSi can populate a report template that is already used within your organisation.
Timeframe
The length of time required to review your organisation's remuneration environment and produce salary budget recommendations is typically 1 - 3 weeks depending on the amount and type of detail and analysis required within the report.
Related Services
CSi can also assist organisations with:
- Managing the entire salary review process - refer to CSi's Salary Review Assistance
- Salary review and management software - refer to CSi's RemSys
- An automated process to facilitate the allocation of salary increases to employees based on their position against market remuneration rates and their performance rating - refer to CSi's RemSys
More Info
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