At
Modern Management, we believe that an organization’s
compensation program must support its mission, values and
business strategy. Toward that end, we work with clients
to develop a compensation strategy that reflects the value
contributed by employees, is externally competitive, internally
equitable, and supports the overall financial viability
of the organization.
Compensation Strategies
Strategic compensation programs create a synergy between
the organization's philosophy and sound technical practices.
At Modern Management, we help clients design and implement
compensation strategies that work specifically for that
organization.
Compensation Audit
Modern Management consultants conduct a thorough analysis
of an existing compensation program to clarify its philosophy
and strategic objectives. From the analysis, the consultants
develop strategies and technical applications that better
align the system with the corporate philosophy and specific
objectives.
Performance Management
System
Effective performance management systems generally feature
the following components – employee input, communication,
coaching and mentoring and career development. Starting
with carefully constructed performance appraisals that
assume employees are successful in their jobs, Modern
Management consultants help clients build performance
management systems that are positive, fair and effective.
Effective Reward and
Recognition Programs
Modern Management consultants have a wide range of experience
in designing and implementing corporate reward and recognition
programs, including pay for performance, individual and
group incentives, gainsharing and goalsharing, skills-based
and competency-based pay, and dual career ladders.
Computer-Assisted Decision
Support Applications
Modern Management consultants use a wide variety of proprietary
computer applications to assist clients in a wide range
of compensation and human resources areas, including pay
structure analysis, market data analysis, compensation
budget planning, contract negotiation planning and performance
appraisal planning.
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Technical Services
Modern Management consultants can provide a wide variety
of technical services that support effective compensation
strategies and management systems. These services include:
Development of Pay Structures
Providing systematic job content evaluation and flexible
pay structures to ensure that compensation programs are
aligned with market competitive issues facing the organization.
Ongoing Salary Administration
Modern Management consultants provide guidance in the
development, implementation and maintenance of effective
compensation systems in concert with the Human Resources
Department. Programs in this area include effective employee
communication, wage and salary administration policy and
procedures and use of proprietary computer applications.
Competitive Market Analysis
The collection and analysis of appropriate and pertinent
marketplace data that can be used as the basis for organizational
compensation decisions.
Criteria-Based Performance
Appraisal Program
For clients in the healthcare field, we have extensive
experience in the design of criteria-based performance
appraisal programs that meld with the hospital’s
existing compensation strategy and meet the requirements
of the Joint Commission on Accreditation of Healthcare
Organizations.
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