Regression Analysis Used in Compensation Administration

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Course Number:49
Category:Salary Structures
Field of Study:Statistics
Audience:Compensation Professionals, HR Managers, HR Generalists
Level of Difficulty:Advanced
Delivery Method:QAS Self Study
Prerequisites: Moderate algebraic training and DLC course 19
Advanced Preparation:None
SHRM BASK:As defined by the SHRM Body of Applied Skills and Knowledge (BASK), this self-study course relates to competencies in Data Analysis with functional areas in Total Rewards.
OverviewRegression analysis may be used in compensation administration to create a model that can be used to determine salary based on one or more independent variables such as area, experience, revenue, performance, and industry. In this course, you will learn some of the basics of quantitative methods such as distributions, standard deviation, standard error, and correlation. Then you will be shown how to use linear and multiple regression to analyze and predict pay to create more rational and competitive wage structures for your organization. You will also learn how to use Excel to perform multiple regression analysis.
Learning Objectives:
  • Differentiate between a normal distribution and a skewed distribution
  • Specify the characteristics of a normal distribution
  • Identify a frequency distribution
  • Recognize the standard deviations for a normal distribution and perform a standard deviation calculation
  • Specify what standard error is and calculate it
  • Specify what correlation is and collinearity and how to interpret correlation coefficients
  • Define R squared, the coefficient of determination, and recognize its significance
  • Specify what the least squares model is and how it is used to find the line of best fit
  • Perform a linear regression calculation
  • Recognize what multiple regression is and specify how to interpret R squared, F and t statistic values
  • Define what transformation is in regression analysis
Credit & Professional
Continuing
Education Information:

  • SHRM-CP/SHRM-SCP Credit Information:

    ERI Distance Learning Center is recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® or SHRM-SCP® recertification activities. This program is valid for 1.5 PDCs for the SHRM-CP® or SHRM-SCP®. For more information about certification or recertification, please visit www.shrmcertification.org.

    SHRM Preferred Provider

  • aPHR/PHR/SPHR/GPHR Credit Information:

    ERI Distance Learning Center is a recognized provider of recertification credits. The HR Certification Institute® (HRCI®) has pre-approved this activity for 1.5 HR (General) credit hour(s) towards aPHR™, PHR®, SPHR®, and GPHR® recertification.

    HRCI Approved Provider
    HR Certification Institute’s® (www.HRCI.org) official seal confirms that ERI Distance Learning Center meets the criteria for pre-approved recertification credit(s) for any of HRCI’s eight credentials, including SPHR® and PHR®.

  • CCP/CBP/GRP/WLCP Credit Information:

    This online course qualifies for recertification credit for the Certified Compensation Professional (CCP®), Certified Benefits Professional® (CBP), Global Remuneration Professional (GRP®), and Work-Life Certified Professional (WLCP®) designations granted by WorldatWork Society of Certified Professionals. For more information on recertification, visit the Society website at www.worldatworksociety.org.

  • CPE QAS Self Study Credit Information:

    National Registry QAS Self Study - Course approved for 1.5 credit(s) in these states:

    Alabama, Alaska, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virgin Islands, Virginia, Washington, West Virginia, Wyoming

    Course approved for 1 credit(s) in Vermont

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Additional Information:
*The Course Credit List displays credits and credit types offered by location.
FAQs Policies
World at Work
CPE Sponsors - Registry
CPE Sponsors - QAS
CAC
CCC

The ERI Distance Learning Center is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: https://www.nasbaregistry.org/

ERI Economic Research Institute is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP® or SHRM-SCP®