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OnDemand Course

Creating and Using a Salary Increase Matrix

Find out how to implement a merit matrix program that works for your company.

Most organizations struggle to effectively reward employees with appropriate salary increases. Of course, appropriate can be a subjective term. This topic will help you set the correct salary increase budget for your organization and provide a framework for salary increases. One that rewards performance and evaluates salary range placement. This process will drive employees through the pay range quickly while slowing down increases for well-paid employees approaching the top of the pay range.

63 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Introduction

  • Merit Matrix Overview

Salary Increase Methods

  • Across-the-Board
  • Step-Based
  • Pay for Performance

Pay Structures

  • Benchmarking
  • Structure Design
  • Job Classification

Performance Management

Compensation Administration

Merit Matrix

  • How It Works
  • Design Considerations
  • Pitfalls
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on March 1, 2022.

Call 1-866-352-9540 for further credit information.

  • HR Certification Institute 1.0
     
  • This E-Learning program has been approved for 1.0 (General) recertification credit hours toward aPHR(TM), aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM) and SPHRi(TM)recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
     
  • SHRM 1.0
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDC(s) for the SHRM-CP or SHRM-SCP.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

  • Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Joe Rice

Joe Rice

CBIZ, Inc.

  • Director of compensation consulting in the talent and compensation services practice of CBIZ, Inc.
  • More than 15 years of experience in the area of human resources and compensation experience, 10 years of experience working in-house in a corporate HR setting, and 5 years in consulting
  • Expertise includes designing market-based compensation programs, linking pay with performance, pay structures, and compensation surveys, as well as developing policies and procedures
  • Assists clients in the design and implementation of strategic base salary and incentive programs
  • Can be contacted at 314-590-4070, [email protected], or www.linkedin.com/in/joericecbiz
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • OnDemand Courses
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Product ID: 409570
Published 2022
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