Compensation Management Issues – Total Solution Focus
There is a saying, that goes something like; “Everyone, sooner or later, sits down to a banquet of consequences.” Good management balances insightful planning with thoughtful and measured execution. As much as we try to anticipate, there are always consequences to deal with. Always problems needing solutions, and questions needing answers; or are these just the same thing?
Most likely a spirited philosophic debate, but when your business has compensation management problems, your staff will have questions. We have answers and solutions. By that we mean specifically we have facts, information and expertise to address specific queries. For example, what is the difference between job evaluation and market studies? (For this and other answers see answer seeour website)
We also have compensation management solutions to the problems that inspire those questions, problems that require the discrete application of facts, information and expertise in carefully defined methodologies with careful attention to the implementation, change management and deliberate mitigation of unnecessary risks and uncertainty. In other words a total solution focus demands:
- Firmly grounded comprehensive compensation philosophy. Ours is clearly spelled out in our belief that all HR solutions must have a strategic business orientation
- Process orientation that specifically addresses the entire compensation management environment
- Proven methodology that integrates all the salient answers to specific domain questions
- Intelligent and easy to use technology
- Expertise and experience in both implementation and change management
It is important to understand the difference between risk and uncertainty. Risk is a specific probability associated with certain events. It can be mitigated by understanding the elements associated with determining that probability. In technology implementation the most prevalent risk is financial risk. Return on investment, or ROI is often the concept used to address financial risk. It simply looks at the potential benefits minus the investment costs divided by the time to implement. The good news is our technology is almost risk free. Time to implement is minimal so benefits are achieved very quickly. Investment is quite economical so even minimal benefits have an early positive bottom line effect.
Uncertainty consists of things that can’t be, or are not foreseen or planned for. In technology implementation, most issues that arise are mistakenly labeled as risks, but are in reality uncertainties. The only way to address uncertainty is to have contingency plans. Expertise and experience are really the best and perhaps only dependable teachers of what contingencies to plan for. Our combined knowledge as business leaders, subject matter experts, and technology implementers provides security that only comes with substantial experience to reduce risk AND uncertainty while delivering high business value. (See figure at left).
DBSquared offers your business a total solution for your compensation management:
- Comprehensive methodology (Job Evaluation and Salary Administration – JESAP)
- Access to the most up-to-date and relevant market information and data
- Tested and validated implementation expertise focused on reducing risk and uncertainty while harnessing positive cultural change elements in your organization