This course will provide a consistent and effective methodology for market-pricing benchmark jobs within an organization. Participants will have an opportunity to develop their data utilization skills through classroom practicum exercises.
Review common compensation strategies, base pay structure design, and the establishment and use of a job-worth hierarchy.
What You Will Learn:
- 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.