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Course/Product Description
Title:

Compensation Math for HR Generalists: How to Ace Key Principles for Employee Pay Planning Success

SKU:WC-1020257
Date / Time: Recorded
Format: Webcast
Description:

Yes, we know. You were told there would be no math. But, a key part of managing your organization’s compensation program requires a solid understanding of the metrics used to plan and budget. It’s also a skill that can help set you apart from other HR professionals.

While terms such as “compa-ratio”, “range penetration” and “interquartile range” and “regression analysis” may sound scary, they don’t have to be!

Join us for the compensation-based nuts and bolts training no HR generalist should be without. Our presenter, a skilled compensation consultant, will teach you how to gain a working knowledge of the math and statistics commonly used in compensation analysis, so you can ask for and get what you want from the data and compensation experts.

Learning Objectives

  • The basics: the math used to measure, track, and forecast compensation
  • How math makes compensation data your friend
    Compa-ratio: What it is, why it matters, and how to calculate it
  • The relationship between salary range penetration and compa-ratio
  • Other key compensation metrics you’ll need to know: range penetration, market index, measures of range variability, interquartile range, and standard deviations.
  • Correlation analysis: The answer to the question, “what is the key compensation measure?”
  • The difference between “regression analysis” and “correlation analysis”—and their purpose
  • How to set pay range and midpoint spreads
  • Data analytic techniques gaining prominence in the compensation field
  • And much more!
About Your Presenter

David Wudkya, MBA, BSIE
Managing Principal and Founder
Westminster Associates

David Wudyka, MBA, BSIE, the managing principal and founder of Westminster Associates in Wrentham, Massachusetts, manages and oversees all company operations, including the design, development and implementation of all client HR programs. His specialties include the design of compensation systems, human resource analytics, HR audits of HR operations, employee retention strategies, and group incentive plans. When Mr. Wudyka is not consulting he is an Instructor at UMass Boston in various business topics and courses, a long-time Instructor in the SHRM Certification Program for Human Resource Professionals, and an SAT Test Tutor at 4.0 Educational Services in Millis, Massachusetts.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

Licenses / Designations / Educational Credits:PHR / SPHR Re-Certification Credits
All US States: 1.5
About The Provider: BLR® is the leader in helping organizations, and their employees, reduce safety, environmental and employment compliance-related legal exposure, stay on the right side of law, and achieve their full potential. We offer best-in-class compliance product and services that includes news, information & analysis, best practice guidance, employee training and turn-key tools delivered in a wide range of formats from online applications, live events and websites to books, CD's, Video, Posters and newsletters geared to all sized organizations and industries.
More Info: Contact Us For More Information
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Keywords For This Course:

compensation, compensation math, compa-ratio

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