Design a Fair and Competitive Plan
This course provides an in-depth discussion of the principles, design, implementation, and evaluation of an employee base-pay program. Exercises will show how to design a pay program that is fair, competitive, and supportive of an organization’s compensation strategy.
- Identify the relationship between an employee total rewards program and an organization’s business strategy.
- Discuss the design of base pay programs and necessary considerations.
- Discover what it takes to implement and deliver base pay.
- Examine pay for performance merit pay systems including development, utilization, and costing.
- Address the effectiveness and efficiency of pay programs through monitoring and evaluation.
- Discern how and when human resources should be involved in mergers and acquisitions.
Who Should Attend:
This course is intended for emerging compensation practitioners with limited experience in developing pay structures. Knowledge of basic mathematical concepts such as mean, median, weighted average, compa-ratio, percentiles, and calculating percents is recommended, as well as an understanding of the concept of regression analysis.