DinamiComp®
Organizations that are able to attract and retain the employees that are a “best match” for their industry or organization are often able to enjoy the greatest levels of success. The art of matching employees to an organization, however, is not an exact science and peak results are often elusive. Traditional methods of recruitment and compensation yield hit and miss results where the best employees are often mismatched or simply overlooked. We believe that DinamiComp® is the best system on the market to attract and retain the most highly qualified workforce based on your organization and industry needs.
DinamiComp® is a user-definable, data-driven, parameter-based compensation system in which the organization defines the variables and controls all the limitations.
Pay Differentiation Variables (PDVs)
Pay Differentiation Variables are the individual factors which determine individual employee compensation. PDVs can be anything the organization determines to be an important factor for employee and organizational success. PDVs align your compensation to the characteristics you value in your employees. PDVs are generally organizational or industry based norms. There is no limit to the number of PDVs which can be incorporated into a DinamiComp® system.
Client Defined Limitations
Low Salary
The minimum compensation for a specific position or class of positions.
High Salary
The maximum compensation for a specific position or class of positions This salary would be reserved for employees who meet all of the positional PDVs.
Budgetary
Setting the maximum total spend in the form of the organizational limitation for the increase in salaries for the upcoming period (i.e. fiscal year). Budgetary limitations are generally expressed in the form of a percentage increase from one period to the next.
The maximum annual increase for each employee expressed as a percentage of current salary.
The minimum annual increase for each employee expressed as a percentage. This parameter can range anywhere from as low as negative 100% to no upper limit. This can otherwise be known as the hold harmless allowance or cost of living adjustment.
Benefits
Predictability
Control your human capital budget even during the transition to DinamiComp®.
Recruitment
Attract and retain employees who align professionally with your organization.
Alignment
Defines clear employee expectations relating to compensation.
Scenario Management
Create, compare, and contrast various compensation scenarios.
Transparency
Reduces bias in the hiring process.
Scalability
Organizational size is not a limiting variable.
Process
- Identify and involve stakeholders
- Develop PDVs
- Set limitations
- Develop draft compensation model
- Cost model to current staffing
- Tweak system for final implemenation
- Implement
- Monitor and adjust periodcially: monthly, quarterly, or annually