Salary Structures and Pay Delivery

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Course Number:81
Category:Salary Structures
Field of Study:Specialized Knowledge
Audience:Compensation Professionals, HR Managers, HR Generalists
Level of Difficulty:Intermediate
Delivery Method:QAS Self Study
Prerequisites: Moderate algebraic training
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 Business and Competitive Awareness, Business Analysis, and Data Analysis with functional areas in Talent Acquisition and Total Rewards.
OverviewBase salary structures are management tools designed for compensation program administration. Ideally, a salary structure will provide management with guidance to provide compensation that is internally equitable, externally competitive, and cost effective. A pay structure typically groups jobs of equal internal value or worth into grades and forms the job hierarchy for an organization. This course discusses the importance of the design, implementation, and administration of fair and equitable pay structures. We will examine different approaches to pay delivery using market-competitive pay. We also analyze the differences between merit pay and automatic progression salary increases. We focus special attention on the challenges that compensation managers face in the design and implementation of a salary structure. We will end this course with a review of the labor market, as no company can reasonably expect to retain a high-performing workforce if it has an uncompetitive compensation program. With this in mind, we will show you how to use research software to determine competitive market rates by location, industry, and job title.
Learning Objectives:
  • Identify the characteristics that provide a foundation for a sound base pay structure
  • Recognize various design issues that should be considered when developing a pay structure
  • Specify how a base pay policy line and base pay ranges may be developed
  • Determine how to use compa-ratio and range penetration to identify pay positions
  • Calculate the cost of base pay programs
  • Review different types of merit matrices to support a pay for performance organization
  • Differentiate between the various types of base pay increases
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.
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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®