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Compensation Systems Explained: Essentials of Creating Pay Structures

Thursday, Jun 01, 2017 at 11:30AM - 2:30PM

Online Event

  • Jun 2017

    01 Thu

    11:30AM

  • Jun 2017

    01 Thu

    2:30PM

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Compensation Systems Explained: Essentials of Creating Pay Structures

Thursday, Jun 01, 2017 at 11:30AM - 2:30PM

Fremont, CA

No tickets available

Description
Less than half the companies with fewer than 100 employees have formal salary structures and only 70% of all U.S. companies have such structures. Yet almost all companies report that they have hard-to-recruit positions and they are vulnerable to loosing top talent. Having a competitive well-designed compensation system has long been a corner stone of employee recruitment and retention and regardless of the economy, it is critical to have a competitive compensation structure that fulfills your company's goals. This webinar will give you the tools to get started in developing a base pay plan or tune up your current plan. It will present a broad overview of the philosophy and application of compensation systems.

Objectives Of The Presentation
  • Compensation policy
  • Internal and external equity
  • Ranges
  • Grades
  • Position analysis
  • Job evaluation systems
  • Point factor systems
  • Benchmark positions
Why Should you Attend
This webinar by expert speaker and HR consultant, Wes Pruett, will explain the fundamental concepts of how to create a compensation system as well as focus on the process of creating a market-based salary structure. You will be informed about the concepts of salary ranges, internal/external equity, benchmark positions, grades etc. using market analysis to establish midpoints and pay ranges, options for salary range movements, slotting through non-benchmarking jobs as well as calculate compa-ratios. You will also learn about the sample pay grades with variable ranges. The webinar will also provide with the tools to develop or update your current base pay plan. You will get to know the fundamentals of market pricing, compa-ratio, grades, and ranges to give your organization the means to confidently build a competitive and effective pay structure.

This webinar will focus on building a market-based compensation system that will allow your company to be competitive within their industry. It will also assist you in building a workable systematic compensation program that is fair, understandable, consistent and defensible. Get the tools needed to start developing a base pay plan or tune up your current plan with the help of this webinar. You will get a broad overview of the application and philosophy of compensation systems.

Areas Covered
  • How to design an effective base pay system or improve upon your current base pay plan
  • The relationship between midpoints, market pricing and salary grades
  • Whether your organization leads or lags in the market
  • How to define your organization's compensation philosophy
  • The basics of job analysis and salary grade placement
  • What is a compa-ratio and why does it matter?
  • Methods for moving through the range
  • How to build a salary grade system
  • Accelerated progression to the midpoint
  • Receive model salary grades and ranges
Who will Benefit
  • CFOs
  • COOs
  • Senior Managers
  • Directors
  • VPs
  • Employee Contracting Organizations
  • HR Professionals
  • Payroll Professionals
  • HR Managers
  • Owners
  • Office Managers
  • Payroll Manager
For Registration
http://onlinecompliancepanel.com/webinar/SYSTEMS-EXPLAINED-PAY-STRUCTURES-502019/FEBRUARY-2017-ES-EZEVENT

Note: Use Promo code HJQDZ and get 10% off on registration (Valid till FEBRUARY 28th 2017)

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