Compensation Math for HR Generalists: How to Ace Key Principles for Employee Pay Planning Success
|Date / Time:
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.
About Your Presenter
- 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!
David Wudkya, MBA, BSIE
Managing Principal and Founder
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.
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|Licenses / Designations / Educational Credits:||PHR / SPHR Re-Certification Credits|
All US States: 1.5
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||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.
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|Keywords For This Course:|
compensation, compensation math, compa-ratio
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