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How to Set Pay Ranges That Are Fair and Effective

You want your organization to be competitive when it comes to compensation. Make sure you have the proper policies in place to remain competitive and cost-effective.Organizations nationwide seek to continuously improve performance and motivation, while simultaneously reducing costs. This arduous task often becomes the responsibility of human resources. Without effective systems in place and data available, employee compensation can run counter to efficiency and performance objectives set by the organization. The implementation of market-based pay structures is increasingly necessary in order for organizations to remain competitive, administer compensation fairly and easily, and allocate limited financial resources where they are most needed. Learn best-practice steps to compensation system design.


Runtime: 86 minutes
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Why Lorman?

Over 31 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

Compensation Economics

  • Law of Supply and Demand as It Relates to Compensation
  • Impact of Artificial Floors or Ceilings on Compensation Economics
  • Economic Trends Caused by Current Economy

Market-Based Compensation System Design

  • Purpose of a Compensation System
  • Steps to Designing a Compensation System

Developing Compensation Policies

  • Reasons to Implement Compensation Policies
  • Review of Advisable Compensation Practices, Typical Policies and Procedures

Recognition and Sustaining High Performance Through a Merit Matrix

  • Concept and Samples
  • Modeling
  • Benefits
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Why Lorman?

Over 31 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 Webinar

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

Audio & Reference Manual

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

MP3 Download

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

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In Partnership With

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Why Lorman?

Over 31 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

Amber Duncan, SPHR

Amber Duncan, SPHR

CBIZ, Inc.

  • Manager of compensation consulting in the Human Capital Services Practice of CBIZ, Inc.
  • More than 13 years of experience in the area of human resources, focusing on designing innovative compensation programs
  • Senior Professional in Human Resources (SPHR) and Certified Compensation Professional (CCP)
  • 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 800-844-4510 or [email protected]
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Over 31 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.

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Product ID: 400124
Published 2017
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