Human Resource practitioners or General Managers should attend this program to create and implement effective Compensation strategies that can become a competitive advantage for their companies.
You will benefit by learning strategies that can help to establish equity (i.e. fairness), simplify pay program administration, and be a more effective strategic partner in the business. A haphazard, laissez-faire program will lead to the same result that such programs lead to in larger companies: employee relations issues! Our pragmatic Webinar Leader, David Wudyka, SPHR, MBA, will share his considerable insight on this topic.
You will benefit by learning strategies that can help to establish equity (i.e. fairness), simplify pay program administration, and be a more effective strategic partner in the business. A haphazard, laissez-faire program will lead to the same result that such programs lead to in larger companies: employee relations issues! Our pragmatic Webinar Leader, David Wudyka, SPHR, MBA, will share his considerable insight on this topic.
Areas Covered in the Session:
- Why using a structured approach to pay program design is important
- What is a 'formal Compensation program'?
- The six steps in building a 'formal Compensation program'
- Four goal-based characteristics of 'pay strategy'
- The importance of pay equity, and the two forms it takes
- The difference between 'Procedural' and 'Distributive Justice'
- Qualitative vs. Quantitative performance assessment: which is better?
- Is it ok to use more than one payment system 'under one roof'?
- Why is it important to use 'pay ranges'?
- Job Evaluation? Why can't we just 'market price' our jobs?
- How can we get the most out of our modest merit budget?
- The controversy about the use of Weighted Averages vs. Medians
- 'We can get pay survey data for free? Where?!'
- The most common pay program problem in companies of all sizes
- Who are your 'key contributors' and why are they so important?
- Don't have enough cash compensation? Consider 'cost shifting'!
- Common confusion about 'cost of living increases'
- Considering mimicking your competition? Don't do it!
- Considering conducting your own pay survey? Don't do that either!
