Compensation Strategies

Defining your client’s reward and compensation programs will attract and motivate employees. Our team of compensation consultants can help you create the best possible plan to maximize employee performance and retention. Our areas of focus include:

Total Rewards Philosophy

  • Develop a total rewards philosophy with your senior management to provide a comprehensive plan using base pay, benefits, incentive pay, work-life, training and development, and other rewards programs
  • Develop strategies to implement philosophy

Job Analysis and Job Descriptions

  • Develop an approach for job analysis
  • Prepare job descriptions using questionnaires or interviews
  • Analyze jobs for appropriate exempt and nonexempt classifications

Job Evaluation

  • Determine job evaluation approach using market slotting or point factor analysis
  • Conduct job evaluation process and train Human Resources staff

Market Analysis

  • Perform market analysis using our extensive survey database
  • Conduct custom surveys
  • Recommend techniques for measurement/comp-ratios
  • Recommend fiscal implementation strategies

Base Pay Design

  • Create/revise pay structures with rate ranges or steps
  • Reassess after implementation on a periodic basis

Incentive Pay

  • Develop cash and non-cash recognition programs for management, teams and individuals

Salary & Benefit Surveys

  • Develop and conduct custom salary and benefits surveys for associations and individual organizations.

Why Nyhart?

Nyhart’s clients rely on our team of consultants and advisors to develop compensation strategies that fit your culture and organization strategy to recruit, reward and retain the best talent possible.

Dedicated teams, direct access

As a Nyhart client you will have a dedicated compensation strategist supported by a team of administrators, attorneys and employee benefit consultants. We provide you direct access, so your questions and issues can be handled confidentially by a team who understand your business model and can immediately help you resolve your issues as you implement and manage your compensation strategy.

Ask Nyhart

Are you interested in learning how Nyhart may be able to provide the long-term partnership to design, manage and/or administer an employee compensation program for your organization? Please call us at (317) 845-3500 or email us at ask@nyhart.com today and we will be in touch quickly. We look forward to earning your business.

Sign up for newsletter


Sign up for Nyhart Actuary & Retirement Benefits Newsletter
* = required field