Effective Compensation System: Creating a Sensible Base Pay System that Doesn't Backfire
Instructor:
Wes Pruett
Product ID: 705516
- Duration: 60 Min
Why Should You Attend:
Less than half of companies under 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. If you aren’t totally clear about the meaning of market pricing, compa-ratio, grades, and ranges, this program is for you. This program presents a broad overview of the philosophy and application of compensation systems.
Areas Covered in the Webinar:
- How to put together a well-designed base pay system.
- How midpoints, market pricing, and salary grades fit together.
- Do you lead or lag the market? What’s your 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:
This program is directed primarily at compensation and HR professionals or individuals responsible for designing and implementing compensation programs or for leaders interested in having a better understanding of compensation systems.
Instructor Profile:
Wes Pruett
Owner, HR Advisors
Wes Pruett is owner of HR Advisors LLC, a consulting practice that provides service to clients who seek to align their business and employees creating successful outcomes and excellent work environments. After 20 years in senior leadership within the Mayo Health System he founded HR Advisors.
Mr. Pruett provides solutions to companies for a wide variety of HR issues including compensation, compliance, policy development, performance management, and employee relations. Mr. Pruett regularly facilitates employee training related to communication, leadership, coaching and strategic planning. He is a business coach and member of the International Coach Federation and an authorized provider of Five Behaviors of a Cohesive Team and Everything DiSC.
More Training By Experts
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- Employee Retention Toolkit : Set the Stage to meet Employee Expectation - Module 2
- The Good, the Bad & the Ugly : A ‘How-to’ guide on Employee Performance Management - Module 3
- Crucial Compensation Conversations: How to handle emotions in a productive manner?
Refund Policy
Our refund policy is governed by individual products and services refund policy mentioned against each of offerings. However in absence of specific refund policy of an offering below refund policy will be effective.
Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange. Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time. On-Demand Recording purchases will not be refunded as it is available for immediate streaming. However if you are not able to view the webinar or you have any concern about the content of the webinar please contact us at below email or by call mentioning your feedback for resolution of the matter. We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email [email protected] call +1-888-717-2436 (Toll Free).
