Challenge
Core Laboratories is a leading provider of proprietary and patented reservoir description and production enhancement services with offices in Houston, Texas and Amsterdam, The Netherlands. The company’s specialties include basic rock properties, special core analysis, and PVT characterization of reservoir fluids. As a high visibility global project was in progress, the Total Rewards Leader resigned, leaving the project incomplete. This situation was compounded by the fact that the remaining compensation team didn’t have the deep level of expertise to complete the project themselves and that additional high priority projects needed to be done. Six months later, the company hired a new TR Leader, but he was located in the Netherlands on a one-year contract and as such, required onboarding. Core Laboratories clearly needed a solution that would see the project through and lay a foundation for the future.
Solution
In order to manage the high visibility project and move it forward, NB Business Solutions was initially hired for consulting and expertise in the area of global compensation. Serving as interim TR leader, we managed both the internal compensation team and the external consulting firm that Core Laboratories was using on the project. We assessed the current situation, quickly devised a project plan and connected with all stakeholders to get their buy-in for assistance and involvement. Then, we provided coaching, supervision and global direction while the new leader in The Netherlands focused on projects in the Eastern hemisphere. In addition to providing provided onboarding services, NB Business Solutions continues to provide leadership and consulting services for the company’s other global compensation programs, such as merit increases, promotions, short-term incentive plan design, and long-term plan design and administration.
Results
Through our thoughtful strategy, planning, and effective managing of the team, we moved the project forward and kept everyone involved on track. By conducting research and investigating historical files and projects, we gained insights as to why they were in their current state with the company’s compensation structure. We created a project plan as well as a communication and change management plan to develop a global compensation structure and framework and procured valid compensation data to support it. To assure the right leadership for the position, we helped Core Laboratories identify, interview, and hire for the position. We also provided consultation during the onboarding period to support the incumbent’s successful transition into the global HR team.