Compensation Studies

Ray Associates’ approach to conducting compensation studies is practical and directed toward the implementation of our findings and recommendations. A project is not successful to us unless our recommendations have been implemented. We practice careful project organization and control. Our discipline of good planning and supervision pays off in superior performance by our staff. We pay careful attention to detail. Our products involve our clients’ and their employees’ livelihood; we carefully review all project components for accuracy and consistency before submitting our recommendations.

Ray Associates, Inc. is committed to creating practical products tailored to our clients. We submit all recommendations resulting from our compensation studies to our clients before we officially present them, resulting in products that have the full support of the client's management. We also present our products to the client in forms that are ready for adoption and use. Ray Associates places a premium on producing practical products tailored to the needs of each client.

For an organization to attract and retain its best employees, it must periodically look at what the market is paying, and adjust its own pay practices accordingly. It is best to conduct a thorough compensation study every 3-5 years. Ensuring that your compensation policies and procedures are in tune with the market, including pay and benefits, will help your organization attract and retain qualified, talented employees, and will allow competition to work for you instead of against you! The result will be improved operations and employee morale, together with reduced costs associated with recruiting and training staff.

If any of the following factors apply to your organization, it is probably time to conduct a compensation study:

• Your organization has struggled with employee turnover issues;
• Your organization has struggled with employee satisfaction issues, including complaints regarding employee pay or benefits;
• A significant portion of your workforce is approaching retirement age, forcing your organization to look at potentially recruiting and competing for many positions at once; or
• Your organization has not reviewed its compensation system in more than five years.

For more information about our compensation study services and products, please e-mail us or call (512) 478-4699.