This webinar will discuss the fundamentals of current base pay plan, market pricing, compa-ratio, grades, and ranges to give your organization the means to confidently build a competitive and effective pay structure.
Why Should You Attend:
Less than half of companies under 100 employees have formal salary structures and only 70% of all U.S. companies have such structures. Yet almost all companies report that they have hard-to-recruit positions and they are vulnerable to loosing top talent. Having a competitive well-designed compensation system has long been a corner stone of employee recruitment and retention and regardless of the economy, it is critical to have a competitive compensation structure that fulfills your company’s goals. This webinar will give you the tools to get started in developing a base pay plan or tune up your current plan. If you aren’t totally clear about the meaning of market pricing, compa-ratio, grades, and ranges, this program is for you. This program presents a broad overview of the philosophy and application of compensation systems.Areas Covered in the Webinar:
- How to put together a well-designed base pay system.
- How midpoints, market pricing, and salary grades fit together.
- Do you lead or lag the market? What’s your compensation philosophy?
- The basics of job analysis and salary grade placement.
- What is a compa-ratio and why does it matter?
- Methods for moving through the range.
- How to build a salary grade system.
- Accelerated progression to the midpoint.
- Receive model salary grades and ranges.
Who Will Benefit:
This program is directed primarily at compensation and HR professionals or individuals responsible for designing and implementing compensation programs or for leaders interested in having a better understanding of compensation systems.Course Provider
Wes Pruett,
