A properly designed compensation administration policy helps your financial organization to equitably administer salaries across similar job categories and titles.
The regulations are unclear as to what constitutes “similar” jobs. Salary Administration Plans document the institution’s view of what jobs are equivalent and how it will administrate the salaries of each job and job level. With a compensation administration policy, you can ensure that officer titles do not become a default job grading system.
Young & Associates has vast, diverse experience working with financial institutions, including banks and credit unions, and our consultants are uniquely qualified to help.
Young & Associates salary administration plan services include:
Young & Associates can help your financial institution create and administer compensation planning and administration that will help you attract, retain, and motivate your employees. Contact us to see how we can help your organization with a salary administration plan.