Establishing a fair, consistent, and transparent total rewards strategy to enable long-term growth for a large healthcare company
The client is a newly formed portfolio company with approximately $500M in revenue that resulted from the merger of two legacy on-site health service companies.
Industry:

The client asked West Monroe Partners to ensure the right people, processes, and technologies were in place to help them achieve their goals as the company scaled.

Compensation Planning
West Monroe Partners conducted focus groups with key employees from both legacy organizations to understand the future-state goals of the organization and determine an approach for aligning a new Total Rewards program to their overall business strategy. After the discovery sessions were complete, we helped develop a roadmap for establishing the new compensation philosophy and methodology within the organization.

Career Architecture Definition

It was critical that our client developed a career architecture to retain top talent and allow employees to pursue horizontal and vertical career opportunities within the organization. West Monroe Partners conducted discovery sessions with leaders of the various business functions to understand the current scope of roles and responsibilities within the organization. This exercise helped define a consistent future-state career progression architecture that would cultivate employees through innovative development opportunities.

Market Data Analysis
In order to institute competitive compensation, West Monroe Partners developed a market-based approach for rewarding employees in a pay-for-performance culture. Aligning the market data analysis to the client’s compensation philosophy and methodology, West Monroe Partners analyzed external market data for jobs that support the client’s overall business strategy, and jobs for which retention was a concern.

Impact Analysis
We determined the impacts to deliver a market-based compensation philosophy through the lenses of people, process, and technology. By conducting the impact assessment against current salary bands, jobs, employees, and compensation budget, we adjusted the future-state job architecture – including career paths, job families and levels within each job family – while minimizing the impact to the organization and its employees.

Total Rewards Strategy

Next, we helped integrate the results into the client’s broader Total Rewards Strategy. By adjusting merit and bonus programs and performance management processes, West Monroe Partners enabled the client to align career progression and compensation philosophy across their organization and establish a fair and consistent Total Rewards Strategy.

The Foundation for Growth

Large-scale mergers have a profound people impact. It’s important to quickly establish a foundational, consistent, and fair approach to career progression to mitigate flight risks and communicate career opportunities within the newly formed company. By partnering with West Monroe Partners, our client was able to develop a Total Rewards Strategy to retain and grow current talent, and establish a foundation that allows for organic and acquisitive growth.
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