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Course/Product Description
Title:

Regression Analysis: Using Survey Data To Set Internal Pay Levels With Precision

SKU:WC-1021489
Date / Time: Recorded
Format: Webinar
Description:

In January 2016 President Obama proposed a bill requiring companies to report data about how people are paid by race, gender and ethnicity. This data lends itself to the use of regression analysis to compare how people are paid in protected classes vs. people “in the majority.”

As a result, the government and organizations are demanding more from HR, especially with the greater emphasis upon “workplace analytics” (i.e. the use of statistical data for the analysis of work operations). This emphasis inevitably spreads the expectations and use of statistical approaches throughout an organization.

Essentially, HR can demonstrate greater precision in the prediction of labor rates, especially at the executive level, through the use of regression analysis.

Pay surveys are excellent sources of pay data for use in the analysis of a company’s internal pay rates. However, there is another level of precision that practitioners can apply to pay data when they possess the source or “raw” pay survey data.

Join us when David Wudyka, Managing Principal and founder of Westminster Associates, will teach you the ins and outs of this regression analysis method, which can be used in other ways to analyze data about HR programs, including performance appraisal program data.

Learning Objectives

  • What regression analysis is and how your organization can benefit from it
  • How to calculate a regression line
  • The difference between “r” and “r²” in regression analysis
  • How to calculate and understand the equation of a straight line
  • How to use regression analysis in conjunction with pay survey data to build a pay structure and predict rates of pay
  • The difference between simple linear and multiple regression analysis
  • When to use “iterative” regression analysis to refine your results
  • Tips on how to make your first pass at regression analysis a success
  • The purpose and relationship of “correlation analysis” to regression analysis
  • How to use Excel for regression analysis
  • How to predict compensation levels using actual data samples
About Your Presenter

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

David Wudyka, SPHR, MBA, BSIE, manages and oversees all company operations, including the design, development and implementation of all client HR programs. His specialties include compensation systems, human resource analytics, HR audits of HR operations, employee retention strategies, and group incentive plans.

Wudyka uses incentive plan strategies in his work as a compensation consultant. He is an invited presenter at THRIVE 2016, the national conference designed to maximize HR’s strategic value that features several comprehensive sessions devoted to compensation strategy.

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.
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Keywords For This Course:

regression analysis, survey data, pay data

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