Compensation Development through Market Benchmarking

Compensation Development through Market Benchmarking

Lunch is included in this session.

In today's labor market, an employer must establish base pay structures that support internal job equity and reflect external market data for matched positions.

This one-day program provides you with hands-on training so you can benchmark different jobs, incorporate survey data into your compensation structures, develop pay ranges, and create reports to analyze your organization's financial position as it relates to pay.

Participants in this program will:

  • Understand the importance of a total compensation philosophy 
  • Learn to develop a base pay system by using surveys and by understanding several approaches to base pay. 
  • Know the methods for analyzing current pay practices and costs of programs and the tools for transforming current pay practices to meet total compensation objectives. 
  • Learn how to incorporate pay rate adjustments, merit pay programs, and structure adjustments. 
  • Understand how to document pay administration issues, handle exceptions, and meet future demands.

 

  
6.75 Recertification Credit Hours      6.75 PDCs
When
11/14/2017 9:00 AM - 11/14/2017 4:00 PM
Where
Management Association
3025 Highland Parkway, Suite 225
Downers Grove, IL 60515 United States

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