Our team will conduct a deep diagnostic review, including conversations with key business stakeholders, to determine your current compensation structure, identify gaps, as well as analyze employee sentiment and financial viability. This detailed assessment, paired with a clear understanding of your current compensation strategy and overall business objectives, will inform our compensation structure benchmarking and strategy design exercises.
Leveraging our extensive primary and secondary research capabilities, Cedar will identify close industry and geographic competitors for our benchmarking activity. Through analysis and comparison of corresponding structures across similar organizations, we’ll develop an insightful overview of standards, including average compensation and fixed to variable pay ratios.
Variable Pay Program Design & Implementation
Leveraging our in-depth assessment and benchmarking activities, our consultants will design a variable pay program that is built to drive attraction, retention, and high performance. By detailing positions, KPIs and KRAs, key targets, payout frequency and limits, as well as a clear incentive plan, we’ll work with you to define and implement a best-in-class compensation plan that effectively links performance with business objectives and rewards.
Sales Team Incentive Program Design & Implementation
We apply our experience with clients worldwide to develop a sales incentive program tailored to your needs. To begin the exercise, our consultants will work with you to define key parameters based on sales measures and metrics to develop a sophisticated incentive calculation process. We’ll then conduct detailed data testing and scenario planning exercises to refine incentive parameters and analyze financial impacts.
Cedar is also uniquely positioned to execute your sales incentive program to ensure seamless transition and high acceptance levels organization-wide. Our implementation process includes effective employee communication, documentation development, and training workshop facilitation.