When you hire a compensation consultant to restructure the compensation policy in your company, you are generally relying on their expertise in the field of compensation and their knowledge of current compensation trends to make you a competitive employer and help you attract and retain top talent in your field. However, being up-to-date with the current compensation packages in your industry is only half of the expertise you should expect from your compensation consultant. Your compensation consultant should also deeply understand your company's culture and the needs and wants of your employees. One way they may do this is through employee interviews. Here are three ways that you can support your compensation consultant in getting the most helpful information from your employees during compensation interviews.
Give Access to a Variety of Employees
It is important that a compensation consultant is able to interview a variety of employees. For example, you should set aside time with well-performing employees and under-performing employees, high-paid employees and low-paid employees. This will allow the compensation consultant to see how the current compensation structure influences your company as a whole.
Make Interviews Confidential
You should give the compensation consultant a private place to conduct interviews that are not monitored by your managers or human resources department. You should also make it clear to your employees that you will not know their answers to the questions asked in the interview and that they will not be penalized for their answers. This will allow the compensation consultant to ask more probing, sensitive questions and put your employees at ease to answer honestly, which will improve the overall effectiveness of the interviews.
Encourage Employee Honesty
Before your compensation consultant comes in, it is important to have a staff meeting to encourage openness and honesty during the interviews. Many employees are concerned about their jobs or that they will receive a pay reduction when a compensation consultant is hired. You should clarify your reasons for hiring the compensation consultant and strive to put your employees' minds at ease ahead of time. This will allow them to relax and be honest during their compensation interviews.
Not every compensation consultant will conduct compensation interviews. Some may elect to review your compensation documentation and make observations about your employees through casual observation or by talking with the human resources department. However, if your compensation consultant asks you to set up employee interviews, you should make sure to follow these tips to make them effective. For more information, consider contacting companies like Fox Lawson & Associates, A Division of Gallagher Benefit Services Inc.