Compensation Plan

Help Southwest Initiative Foundation learn how to attract and retain talented employees with a compensation plan that is in keeping with marketplace trends and financially feasible.
Southwest Initiative Foundation
Hutchinson, MN, USA
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Southwest Initiative Foundation
Hutchinson, MN, USA

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Posted October 21st

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Project Details

What We Need
  • Review of job descriptions, pay structure, internal value, competitive market data, non-monetary rewards and benefits
  • Recommendations for updating staff compensation and incentive plans
Additional Details

We have been using industry salary surveys and Payscale to determine staff compensation. We are a mid-size community foundation serving a rural area. It's been difficult for us to find comparables for many of our positions. We know the market is more competitive now that many positions can work remotely from anywhere in the country. Staff have worked incredibly hard during the pandemic, and we are concerned about burn-out.

What We Have In Place
  • We currently have Bamboo HR as a central clearing house for all HR resources, which should make it easy for you to get started. We also have a committed Talent and Operations Director, and the ability to provide any other information you need.
How This Will Help
This project will save us $6,746 , allowing us to redirect the savings to our grant making for Covid-19 recovery. We are shifting from supporting basic needs to long-term recovery focused on children's mental health and workforce development.

We have a talented and tenured staff doing incredible work during challenging times. In this competitive market, we must be confident that our compensation plan has kept pace with the market, and that everyone on the team feels valued. If we were to lose staff due to perceived pay inequities, it would set back our progress on helping communities recover from the pandemic. Accurate information will equip us to make good decisions in the spirit of trust and transparency.

Project Plan

P
Prep: Current Materials
  • Volunteer Manager provides Professional with an overview of current job descriptions, pay structures and compensation policies
1
Milestone 1: Research & Analysis
  • Professional connects with Volunteer Manager for a brainstorming session
  • Professional analyzes current job descriptions, pay structure, non-monetary rewards and benefits
  • Professional gathers information about competitive market data and internal value of positions
2
Milestone 2: Recommendations
  • Professional proposes recommendations for job descriptions, pay structures, compensation policies, and incentive plans
  • Volunteer Manager provides feedback to Professional’s proposals
3
Milestone 3: Compensation Plan
  • Professional delivers a compensation plan with updated job descriptions, pay structures, non-monetary rewards and other incentives
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About The Org

Southwest Initiative Foundation
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Our Mission

Connecting people, investing in ideas, building communities

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