|What You Will Learn
- See how base pay factors into total rewards.
- Learn to design, implement, deliver, administer, and evaluate base pay programs.
- Understand key concepts, such as broadbands, the market-pricing approach, point factor approach, and how to integrate market data.
- Understand pay for performance and salary budgeting — including merit increase guidelines and the components of a market-based salary budget.
- See how to monitor pay levels, maintain pay structures, and understand compression.
- Learn to integrate compensation plans and communicate during mergers and acquisitions.
|Who Will Benefit from This Course?
This course is ideal for HR and compensation professionals who are getting started in developing pay structures. In addition, those leading total rewards, remuneration, and compensation and benefits programs will benefit, as will people leaders who want to better understand salary structures.
Gain a vital edge in the competition for talent by developing the right base pay salary structure – one that aligns with your organization’s compensation strategy and recognizes and rewards talented employees.
Through hands-on exercises and discussion, this in-depth course will give you the skills to design, implement, and evaluate a compensation strategy that attracts and retains your organization’s talent.
|The Role of Base Pay in Total
- Elements of compensation
- The Total Rewards design process
- Introduction to base pay
- Job evaluation methods
- Job worth hierarchy
Designing Base Pay Structures
- Base pay structure
- Building base pay structure
- Pay structure design and
Practical Applications of Base Pay Structure Design
- Market pricing approach
- Point factor approach
- Integrating market data into point factor
|Base Pay Implementation
- Pay approaches
- Job-based pay
- Pay actions
- Communicating pay actions
- New hire rates
Pay for Performance and
- Pay for performance
- Compensation strategy and philosophy
- Principles of merit pay programs
- The base pay investment
- Merit increase guidelines
- Components of market-based salary budget
|Administering and Evaluating Base
- Monitoring pay levels
- Maintaining pay structures
- Base pay program review and audit
Mergers, Acquisitions and
- HR involvement
- Key priorities for HR in the process
- HR participation on teams
- Integrating compensation plans
- Communicating compensation changes