Having market-based pay ranges are essential to appropriately compensate employees and ensure equity across the organization.
This program provides hands-on training so you can benchmark different jobs, 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.
- Participate in building a base pay benchmark using multiple survey sources.
- Learn how to age and weight data.
- Build pay ranges for individual jobs.
- Discuss setting employee pay rates and how to address rates falling outside of the range.