As a client of BalancedComp, we truly appreciate your business. We do our utmost to ensure that we provide the best quality products and services to you every day! We are a renewal-based company, and with a 94% retention rate over a twelve-year span, we feel confident that we are providing you with the best possible application and support; we take all of your feedback into consideration as we continually improve. Taking care of you, our current clients, is our highest priority, and we will continue to do everything we can toward that end. With that in mind, I have some very important news to share with you. 

We’re updating Salary Ranges for the Year

Historically, updating salary ranges annually has been a two-step process. First, we would roll out the national salary range movement. Three to four weeks later, we would contact you about your specific market movement. Your board may have approved the initial new ranges by this time, and moving the ranges again to reflect the local market movement was no longer viable. This left clients’ midpoints at somewhere less than the 50th percentile or the market rate. It also meant that in some cases, we might have ten different Geographic Wage Differentials (geos) for one market, whereas there should only be one, thereby creating confusion.

This year, the salary range movement and the local market movement will come out at the same time in October. 

For example, if the midpoint movement is moving upward at 3% and a specific market is “hotter” than that and moving an additional 2%, we will provide ranges that reflect both or 5% (in this example) in order to ensure that your salary ranges reflect both the market and compensation philosophy. 

For BalancedComp clients who want to postpone their salary range movement, they may delay their change until January of the upcoming year. Additionally, since this work will be more complex and time-consuming for our team, we are anticipating a week or more turnaround over the typical two-day process. We feel confident that this change will only benefit our clients and provide more accurate data. 

Introducing BalancedRewards

Secondly, we will be introducing BalancedRewards, a corporate bonus system that is fully integrated with BalancedComp. We are only offering this to BalancedComp clients. Each BalancedComp consultant can select two clients for a beta discount of 35% until the end of the year. Clients are encouraged to reach out to their favorite consultant for a demo beginning June 1st.

Individual Position Grading Requests

Finally, most clients are familiar with our new portal for requesting a position to be market-priced and graded by clicking on the red support widget in the bottom-right corner of all our applications. This process has revolutionized how quickly our team is able to respond. We can track who is requesting, the number of jobs each consultant or comp team member has graded, our average time to close a ticket, and eliminate requests not being responded to by mistake. However, some clients have misunderstood this to mean they can’t call into BalancedComp; there is definitely time for discussion! Secondly, some clients misunderstood that they are required to submit jobs to be graded. We certainly do not intend to usurp anyone’s veto power or autonomy. The overwhelming response has been along the lines of the Halleluiah choir.

The BalancedComp team is committed to taking care of you, our clients, and ensuring that you have every advantage during this difficult time of attracting and retaining talent. I can attest to how much better I sleep at night knowing this.

Back to Blog