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Compensation and Benefits
Optimizing your strategies to help hire and retain the right talent
High demand for skilled workers and low unemployment have converged to create a competitive recruiting and retention environment. Attracting and retaining talent with the skills necessary for your business has always been a top priority, but compensation and benefits strategies have now become a key element of that endeavour.
Evaluating your strategies and identifying gaps and opportunities can be difficult, but RSM Canada’s experienced compensation and benefits team can help you develop and implement programs that enhance recruitment efforts and employee satisfaction.
Creative compensation and benefits solutions - We provide several targeted compensation services, including:
Total rewards program design: We help you determine the right compensation strategy and programs for your company. Using industry-leading tools and resources, we guide you through structures and processes such as base pay, incentive pay, executive compensation, benefit plans, employee recognition and work-life balance initiatives.
Job analysis, documentation and market pricing: We apply a structured job analysis methodology to ensure descriptions are thorough, accurate and compliant. We also assess the competitiveness of your salary ranges by leveraging our salary survey library and market data resources to benchmark your jobs and identify opportunities for improvement.
Executive compensation plans: We apply corporate strategy to develop executive base and cash incentive plans, as well as develop equity and equity-like long-term plans that offer the opportunity to attract, retain and reward key executives.
Performance management strategies: Our team can partner with your leadership to develop performance evaluation solutions and accompanying pay programs to maximize your ability to retain and motivate your workforce. We also develop career roadmaps by job function and candidate readiness assessments to facilitate meaningful professional development activities.
Compliance and process assessments: We’ll conduct assessments of your total rewards programs, pay practices and salary administration processes to identify areas of risk and partner with you mitigate them. We also conduct end-to-end process reviews on your rewards programs to identify opportunities for process improvements and efficiency gains.
How can we help you?
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In addition, we can assist your company in designing appropriate benefits strategies for employees at all levels. We’ve been helping middle market business make the right choices to support their employee benefits programs, employee stock ownership plans (ESOPs) and qualified retirement plans.
The right experience for your needs
RSM Canada’s compensation and benefits practice is comprised of advisors with significant, relevant experience with your specific challenges. We understand middle market companies, as many of our consultants come directly from organizations. We have the direct exposure necessary to not only relate to you, but also understand the dynamics within a wide range of organizations, from large corporations to family-held businesses.
In addition, we combine the power of our experience and insight with advice from our Canada National Tax practice to develop a compensation and benefits solution as well as help you recognize potential tax opportunities or implications. Even in the face of the most complex compensation and benefits issues, we can help you implement proactive, competitive and compliant programs.