Compensation Consulting Services

Attract and retain top talent with a compensation strategy that supports your goals and aligns with your values. 

BPM’s experienced compensation consultants can help design the right compensation program for you. We serve public and private clients, as well as for-profits and nonprofits. Our flexible approach supports your business objectives while promoting high performance. Compensation Consulting Services range from simple benchmarking to designing and implementing salary structures, incentive programs and executive compensation plans. 

Compensation Consulting: Attract, reward and motivate talent  

Compensation consultants help organizations develop and implement effective employee compensation strategies and programs. These compensation strategies do more than reward employees. They help motivate higher achievement, retain top performers, support organizational growth and keep you compliant with regulations. 

For maximum effectiveness, your compensation practices should be competitive, equitable and clearly communicated to your employees. BPM’s experienced compensation team partners with you to align your rewards programs with your overarching business goals. Our consultants help optimize your compensation strategies for driving performance and sustainable growth.  

Why choose BPM for compensation consulting? 

Every member of BPM’s seasoned team of compensation consultants has between 15 and 30 years of experience. Our consultants have each worked with a wide range of organizations across multiple industries.  

For every project we run, we assign both a data analyst and a compensation partner. Our data analysts provide the data, benchmarking and research you need to stay competitive in your market. The compensation partner aligns your compensation philosophy with your culture, management style and organizational goals, keeping employee communication consistent with your processes. 

You may need only one service, such as leadership team benchmarking or executive compensation. Alternatively, you may need comprehensive program development that touches on every aspect of compensation. As a fractional resource, we can meet our clients where they are, providing the services they need, when they need them.  

Our Compensation Consulting Services  

We offer a range of compensation services tailored to each client’s specific needs. 

Compensation strategy development 

A holistic compensation strategy lays a foundation for growth while motivating employees to do their best work. We work closely with you to understand your needs and then develop a strategy that promotes your goals. 

Market salary benchmarking  

Accurate pricing intelligence enables you to understand your current pay positioning, develop competitive compensation strategies and stay competitive in your market. We provide individual benchmarks or subscription options for entry-level through senior leadership roles, or we will work with your preferred compensation market data. 

Pay structure design and implementation  

From entry-level to leadership, your pay structure should be fair, motivating and internally consistent. Our consultants use their experience in job evaluation, grading and salary range determination to design salary and bonus architecture. We work closely with your team to implement job architecture that is right sized for your organization, while being compliant with all applicable regulations.  

Executive compensation  

Determining the appropriate levels of executive compensation is a nuanced process, and we offer boards of directors and senior leadership with the information they need to attract and retain top leadership talent while maintaining accountability to stakeholders. We take a deep dive into relevant data, providing a thorough walkthrough of competitors and peer organizations are paying so you can make the most informed decisions regarding your executive compensation. Your board of directors can use our report to determine appropriate compensation levels for all leadership roles.   

Incentive and performance-based pay plans  

Bonuses, commissions, equity compensation and other incentives are valuable ways to reward desired outcomes. We start by uncovering exactly what behavior you want to incentivize. Based on benchmarking and market research, we then help you craft a policy that drives the desired behavior. 

Compliance and regulatory guidance  

With more and more states passing pay transparency laws, it’s important that organizations are aware of regulatory requirements. Our team stays on top of regulatory changes so you can adjust your policies as needed.  

Total rewards communication 

Compensation goes beyond salary. We create customized total rewards statements to help your employees understand and appreciate their total rewards package. This includes pay, benefits, equity and variable pay. 

Compensation Philosophy 

The power of your compensation program is in your Compensation Philosophy, which is based on your organizational values. We work with your key stakeholders and facilitate a meeting to gain consensus. Afterward, we draft a cohesive document that is ready for employee communication. A compensation philosophy helps guide current and future decisions on pay practices, such as salary increases, location pay strategy, pay factors and more. 

Why hire BPM for compensation consulting? 

BPM’s compensation consultants bring specialized knowledge, data-driven insights and a client-focused approach. We help our clients optimize their compensation strategies with the following benefits: 

  • Tailored solutions that support your business needs.  
  • Enhanced employee satisfaction and retention.  
  • Competitive and fair pay structures.  
  • Access to latest compensation trends, benchmarks and best practices. 
  • Risk mitigation and regulatory compliance. 
  • Cost-effective services with a strong return on investment.  
  • Dedicated consultants who deeply understand your organization. 

Who can benefit from our services?  

Our compensation consulting services support professionals across HR, finance, leadership and governance roles. 

HR leaders and teams
CHROs, HR managers, directors and compensation managers seeking to supplement in-house capabilities for compensation planning, analytics and program design. 
Business owners and leadership
Owners and CEOs of small-to-mid-sized enterprises that lack dedicated compensation resources. 
Finance executives
CFOs and finance directors require data-driven insights to budget effectively and align compensation strategies with financial objectives.  
Boards of directors
Boards and committees that seek independent validation and best-practice guidance when evaluating and setting executive compensation packages. 

Our approach

Our structured and collaborative approach promotes successful compensation consulting engagements with the following steps: 

Initial assessment

We begin by conducting a comprehensive consultation to understand your organization’s needs, challenges and goals related to compensation. 

Comprehensive data analysis

Our approach involves a detailed examination of your current compensation structures and employee data, including thorough market benchmarking. We uncover patterns and trends within your compensation data and this deep dive allows us to identify areas where adjustments may be needed to ensure you achieve your organizational goals and mission. 

Customized strategy development

Every organization has unique compensation needs. Based on our assessment, we create and tailor a compensation strategy that aligns with your business objectives.  

Implementation and communication

Our consultants work closely with your team to implement the compensation strategy, including pay structure design, program rollout and employee communication.  

Ongoing support

We provide ongoing support to keep your compensation programs competitive, compliant and aligned with evolving business needs. Around 95% of our clients continue to reach out to us after our engagement. We are always happy to remain available for questions and consultation. 

Frequently asked questions (FAQs)

Why hire a compensation consultant?

Compensation consultants help organizations design and implement effective compensation strategies that attract and retain top talent. Most companies cannot justify a full-time, in-house compensation resource. As consultants, we can be a fractional resource that helps support your organization with the services they need most.  

What do compensation consultants do?

Compensation consultants evaluate an organization’s approach to compensation and suggest sustainable changes that can increase employee satisfaction and improve retention. They provide knowledge and experience in areas such as the following: 

  • Job evaluation 
  • Salary benchmarking 
  • Pay structure design 
  • Executive compensation 
  • Incentive plans 
  • Compliance  
  • Total rewards communication 
How long does the compensation consulting process take?

The time it takes depends on the scope of the engagement, the complexity of your needs and how quickly you want to make changes. A full project generally takes at least four months.  

What industries do BPM compensation consultants serve?

Our compensation consultants have experience serving clients across diverse industries. We work with both for-profit and nonprofit organizations as well as public and private companies. Former and current clients are in nonprofit, technology, biotech, agriculture, oil and gas, healthcare, manufacturing, financial services, and more. 

How do BPM compensation consultants measure success?

We measure success through metrics such as the following: 

  • Improved employee satisfaction and retention rates. 
  • Alignment with industry benchmarks. 
  • Achieving your business objectives.