This course will provide a consistent and effective methodology for market-pricing benchmark jobs within an organization. You will have an opportunity to develop their data utilization skills through classroom practicum exercises.
What You Will Learn:
- Review common compensation strategies, base pay structure design, and the establishment and use of a job-worth hierarchy.
- Discuss how market pricing can support an organization’s business strategy.
- Discover data sources, data collection options, salary survey formats, and use of job matching.
- Learn how the data from salary surveys can help you develop the market rate for benchmark jobs.
- Discuss the use of statistical analysis tools and aging, blending, weighting, and slotting data.
- Learn how to handle short- and long-term incentive survey data.
- Find out how to communicate market pricing to upper management and your organization.
Who Should Attend:
This course is designed for compensation and HR professionals with an interest in/or responsibility for identifying competitive rates of pay, job evaluation, and compensation program development.