The StrategicPay® Series is a series of hands on, "do it yourself" ("DIY") Toolkits designed to help HR and compensation professionals do work that is normally hired out to compensation consultants. We call it "compensation consulting at your fingertips..."
Value -- we all want it, but it's usually more than just looking at price. Here's one way to think about the value inherent in the StrategicPay® Series. We can think of value as comprised of the benefit received divided by the cost, or Value = benefit received/cost.
Given this, let's look at value proposition for the StrategicPay® Series, Base Pay Toolkit, for instance, given the following example:
Value is the ratio of benefit received divided by the cost. A higher number is better
Benefit = 10,000 (assuming you've achieved 100% of your objective)
Cost = the cost of achieving the benefit.
Here's the value proposition for hiring a consultant:
Value = 10,000/(between $20,000 - $50,000) (the typical cost of hiring a compensation consultant to build a base pay compensation program for a small to medium-sized company). Let's be conservative and say the cost is $20,000.
Additional costs: $200 to $500 and hour for a well-qualified consultant
Consultant Value = 0.50 (10,000/$20,000).
Now let's do the same calculation for the Base Pay Toolkit:Base Pay Toolkit Value = 6.67 (10,000/$1,500)
Additional costs? More of your time (while gaining valuable skills, credit for doing it yourself, and saving your company a bundle).
Think about what you get, and we believe the value proposition for the StrategicPay® Series is simply outstanding.