Our client is a leading professional services firm operating in a demanding and increasingly competitive sector.
The challenge was to (i) ensure retention of personnel with highly specialized skill sets; and (ii) recruit high caliber professionals to meet future service and growth targets.
OCG evaluated the current incentive and compensation structure, and developed a Total Compensation Approach that (i) connects compensation to performance, (ii) is market competitive, (iii) is aligned with the organizational strategy, and (iv) incents the right behavior to achieve strategic goals.
OCG’s recommended program incorporates all elements of compensation (base, STIP, LTIP) plus a flexible benefits (Core Plus) approach.
OCG’s solutions were well-received across the board and resulted in the client retaining all existing professional services personnel, as well as providing a competitive platform to attract and recruit high caliber talent for future growth. Our client was appreciative of the results achieved, the degree of OCG involvement, and the ease of the technology transfer.
conducted a Comparative Benchmark Study and facilitated a series of workshops with staff and senior management to review and discuss results
developed and implemented a market-driven Compensation Platform, including procedures and processes to drive performance
developed and implemented an employee-targeted Communication Strategy to ensure engagement and achieve buy-in throughout the organization
designed and implemented tracking metrics for ongoing measurement and evaluation of the incentive component