Compensation & Human Resource Consulting
Managing employee costs is important to financial institutions. FORVIS offers Compensation and Human Resource Consulting services to help financial institutions develop competitive pay and incentive programs, attract and retain top performers, and align with an organization’s goals and objectives.
FORVIS works with Human Resource (HR) management on Organizational Reviews that can help define lines of authority and the proper delegation of responsibilities. We can make recommendations for each position to clearly reflects duties, performance standards, and reporting relationships. We can assist HR in creating detailed job descriptions to help you empower employees, improve their performance, and support organizational strategic plans. Our recommendations include assessments of current staffing costs, comparative data, and specific action steps to maximize salary budgets.
A well-designed Salary Administrative program focuses on objective employee evaluations and rewards for meeting and exceeding performance standards. FORVIS Salary Administration Reviews can assess present needs, the marketplace, and rewards and incentives for employees. We help organizations to clearly define their salary administration guidelines and to communicate the program to employees. Employee satisfaction is closely tied to personal achievement and ultimately to employee retention.
We offer Benefit Reviews to assess current benefit structures, retirement programs, and utilization costs. We help financial institutions decide if benefit programs are in line with their organizational needs, are cost effective, and compliant with current HR regulations. We also can research, design, and recommend a Performance Appraisal Program for each position within a bank so that documented criteria and actual performance standards are utilized to measure employee performance.
Executive compensation is often a priority in retaining high performers and motivating senior management teams. FORVIS has advised Boards around the country on implementing executive compensation programs that include competitive base salaries, benefits, incentives, and deferred payments.
Compensation Consulting services include:
- Organizational Reviews
- Salary Administrative Reviews
- Benefit Reviews
- Performance Appraisal Reviews
- Executive Compensation Reviews
- Performance Management Reviews
- Sales Incentive and Reward Reviews
- Incentive Compensation Reviews
- Board Advice