The Merit-Based Salary Matrix: A Winning Performance Model To Steer Compensation Efforts In The Right Direction
|Date / Time:
It’s a question that every manager struggles with at least once a year: How do you properly distribute merit-based pay increases?
You want to reward your highest performers in a way that keeps them happy and productive. Yet, you want to be fair and balanced, and to encourage improved performance from all team members.
It’s essential that your salary decisions communicate the right message. How you distribute increases sends a message to your employees about the kind of work ethic and approach to work that gets rewarded, and what you would like to see in the future.
Join us for strategies and tactics designed to help you guide your organization’s compensation policy and practice, particularly when it comes to merit increases. Through examples and case studies, seasoned compensation consultant John Rubino will walk you through the concept of a merit-based performance matrix and explain how to put the matrix into practice right away to get your compensation efforts headed in the right direction.
About Your Presenter:
- What the landscape of merit increases looks like
- What a compensation matrix is, and why you should consider using one
- The problems employing a matrix may solve - and the side effects it may create
- Why you need to focus on actual pay, versus percentage increases
- The homework you need to do to get ready to begin using a salary increase matrix
- How not to fear matrix math - it’s simpler than you think!
- How to tackle fairness issues - how do you wisely slice and dice your salary increase budget with the help of a matrix?
Rubino Consulting Services.
Mr. Rubino has more than 30 years of experience designing and implementing human resources programs for a wide variety of organizations in the financial services, technology, manufacturing and public sectors as both a practitioner and consultant. Prior to forming his own company, he was senior manager of consulting for Ernst & Young LLP and director of executive compensation for The Equitable Life Insurance Company.
As an internationally acclaimed speaker, Mr. Rubino conducts numerous presentations to global audiences. He is also a speaker, course developer and seminar leader for WorldatWork (formerly the American Compensation Association) and the American Management Association, as well as a speaker for SHRM's annual conferences. John is the author of two books: “Developing Compensation Programs: Job Analysis, Evaluation and Classification” and “Communicating Compensation Programs: An Approach to Providing Information to Employees.” In addition, he has written numerous articles on human resources program development and is frequently quoted in professional publications. A Certified Compensation Professional (CCP), Certified Benefits Professional (CBP), Global Remuneration Professional (GRP), and Work-Life Certified Professional (WLCP), Senior Practitioner in Human Resources (SPHR), Mr. Rubino holds a BA from Wagner College, an MBA from the Lubin Graduate School of Business, Pace University, as well as a Lifetime Achievement Award from WorldatWork and an Honorary Membership Award from the South African Reward Association (SARA) based in Johannnesburg.
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|Licenses / Designations / Educational Credits:||PHR/SPHR Re-Certification|
All US States: 1.5
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|Keywords For This Course:|
Compensation, matrix, salary increase matrix, total compensation, performance management, pay, market rates, salary survey, salaries, labor costs, pay ranges, benefits, recruiting, retention, turnover, hiring, human resources, HR, payroll
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