This is a basic level course intended for those new to compensation.
External competitiveness is a prime objective for most organizations, but the approach taken to measure competitiveness may differ from one organization to another. In fact, competitive objectives may change within the same organization over time, especially when financial performance fluctuates.
The goal of "market pricing" is to collect and analyze data that will meet the organizational objective of identifying external competitiveness. Market pricing is not an exact science, but a sound and practical approach using summary statistics from published surveys that can add validity to the market pricing process.
This webinar will discuss practical guidelines that may be used for identifying, selecting, analyzing, and using market data to complete essential tasks in determining external competitiveness and establishing a competitive market-based pay program. The importance of communicating the compensation program effectively will also be discussed and practical tips will be provided to support you in delivering a transparent message to your employees so that they may understand and, ultimately, buy into the program.
This webinar can be taken alone or as part of a series that should be taken in this order: Compensation Basics: Job Analysis, Descriptions & Evaluations, Analyzing and Using Salary Survey Data, Designing Pay Structures, Essentials of Base, Performance, and Supplemental Pay Programs.
Define your organization’s compensation philosophy and market pricing objectives
Identify and select salary survey sources
Explain the importance of matching benchmark jobs
Describe how to interpret salary survey data
Explain how to determine market rates and competitiveness of current pay
Identify ways to adjust or update a pay structure
Describe how to communicate the compensation plan
Credit & Professional Continuing Education Information
Credit Hours - You must attend for 90 minutes to be eligible:
SHRM-CP/SHRM-SCP: ERI Distance Learning Center is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.5 PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.
aPHR/PHR/SPHR/GPHR: ERI Distance Learning Center is a recognized provider of recertification credits. HR Certification Institute® (HRCI®) pre-approved this program for 1.5 HR (General) credit hours towards aPHR™, PHR®, SPHR®, and GPHR® recertification.
The use of this seal confirms that this activity has met HR Certification Institute’s® (HRCI®) criteria for recertification credit pre-approval.
CBP/CCP/GRP/WLCP/CECP/CSCP: This webinar qualifies for recertification credit for the Certified Compensation Professional (CCP®), Certified Benefits Professional® (CBP), Global Remuneration Professional (GRP®), Work-Life Certified Professional (WLCP®), Certified Executive Compensation Professional (CECP™) and Certified Sales Compensation Professional (CSCP™) designations granted by WorldatWork Society of Certified Professionals. Please note that the CECP and CSCP designations require a minimum number of credits from executive and sales compensation-related activities. For more information on recertification, visit the WorldatWork Society recertification webpage at www.worldatwork.org/certification/recertification.
SHRM BoCK: As defined by the SHRM Body of Competency and Knowledge TM, this webinar covers competency topics related to Critical Evaluation with the knowledge area being Compensation and Benefits.
Meet the Presenter
Linda Cox, CCP
Linda is the Compensation Project Manager at ERI Economic Research Institute and has over 30 years of Global Compensation Director-level and consultative experience with major multi-national corporations such as Allergan, Beckman Coulter, Quest Software and Dell. She holds a Bachelor of Science Degree in Business Education from California State University, Long Beach, and is a Certified Compensation Professional. She is a Compensation & Rewards Instructor for the University of California’s Continuing Education Department and also currently volunteers as Treasurer of The Orange County Compensation & Benefits Association. Linda’s business and personal travel has taken her to 32 countries and almost 400 cities throughout the world. She also established the Allergan International Assignment Program which grew to 67 expatriates during her 16 year Allergan career.
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