Egg processing company that was formed in 2014 through a partnership between two independently successful egg processing companies and a private equity firm which purchased the operations from a national food company. The newly formed egg processing company has approximately 320 employees located in two geographically separate locations. The company’s revenue stream originates from the production and sale of multiple whole egg varieties to retail locations as well as franchise partners.
The company had adopted the pay practices and salary scale from the prior ownership entity. As there had been no recent salary survey conducted, the scale had remained unchanged since 2012. Merit increases were given on an annual basis based on performance reviews and a budgeted percentage. The company had an annual bonus program which was part of the compensation package for some exempt level employees, but others were excluded as were all hourly employees. The company wanted a comprehensive review of their pay practices to assess the compensation program in comparison to the two owner companies, as well as with any national data to ensure they remained competitive within the industry.
The Results Achieved