Slabaugh Morgan White & Associates is a successful, fast-growing company guided by a set of corporate values. A mission, purpose and vision give direction to the firm's 100-plus consultants who advise more than 1,000 clients across the country in actuarial, benefits and compensation matters.

These guiding principles are important to Slabaugh Morgan's continued growth and prosperity, and the company reinforces them among employees by offering stock incentives and other cash and non-cash rewards. More than 40 percent of Slabaugh Morgan White consultants are shareholders.

In this way, Slabaugh Morgan is setting the example for the companies with whom it partners. A simple yet integral formula of aligning organizational and business strategies with employee rewards is the secret to Slabaugh Morgan's success -- and that of its clients.

"Often the best strategy for developing an effective benefits program is to step back and take a fresh look at each component of the program," says Ray Slabaugh, whose brother Jim founded the firm in 1990 to provide high quality, affordable consulting services. "Then you have to ask yourself what the best way is to combine your company's commitment to rewarding employees while meeting operational objectives."

Slabaugh says the trend is catching on, and more employers are shedding the old methods of traditional compensation and reward plans that create awkward corporate hierarchies. "To move ahead," says Slabaugh, "companies must adopt a strategic approach that links employee rewards with factors they determine as critical to operational success. The results are improved organizational performance and greater employee satisfaction. We have seen that within our own company."

Slabaugh Morgan encourages a flat management structure in its operations. Though the firm has grown to include offices in six locations, all partners are active consultants.

"Leveling out any hierarchy allows us not only to remain affordable, but also to maintain an environment of very capable people who enjoy working together," Slabaugh says.

With this standard, Slabaugh Morgan is able to keep its fees 25 to 50 percent below those of large national firms. Meanwhile, the company focuses on recruiting consultants who bring experience from those very firms.

"This was our vision -- for smaller to mid-size firms to have access to expert consulting services at affordable costs," says Slabaugh, whose own experience includes work with William M. Mercer. "Larger companies as well have begun to recognize our expertise and appreciate our efficiency."

Slabaugh Morgan makes it a point to consult only in those areas where the firm can offer superior performance. Consultants specialize in health and welfare plans, retirement planning and compensation consulting. Other services include managed care, health promotion and organizational development.

Legislation over the last two decades has complicated human resources issues for employers and paved the way for consultants such as Slabaugh Morgan to specialize. The firm's clients extend across public, private and non-profit sectors. Most client relationships are ongoing -- not single or periodic project engagements.

"When a company spends upwards of 40 percent of its compensation expenditures on benefits, they want to ensure those dollars are being effectively managed for the long term," Slabaugh says. "And that's what we're all about."

The majority of Slabaugh Morgan's growth has occurred over the last two and a half years. In addition to offices in Richmond, New Orleans and Norfolk (called Slabaugh Morgan B&W), a mid-summer merger in 1998 yielded a Pittsburgh facility, followed by start-ups in Jackson, Miss., and Washington, D.C.

"We have been described by our clients as offering creative, practical, effective and affordable solutions," Slabaugh says. "Those are the highest compliments a firm can receive, because that's precisely what we're trying to help our clients achieve."