Market Rates And Internal Equity: How To Strike The Right Balance To Land The Right Talent
|Date / Time:
When looking for the right new hire, how do you determine the right compensation? Hint: Your company or department internal budget is not the answer.
When you’re looking for the perfect fit for your company, so are other businesses in that area. Therefore, you must be ready to compete with those businesses for the best candidate and to do know that your salary offer must be in line with the market rate for the position.
Market rate is defined by WorldatWork as the market competitive salary for a job that represents the average prevailing pay rate for that job in a particular data set.
Your organization’s internal equity should aid in determining salaries within departments but shouldn’t be a benchmark in the hiring process. Overall, internal equity is not a hiring issue, it is a compensation issue.
Join us for an in-depth webinar led by compensation expert Christian Britton. Mr. Britton will discuss strategies to help you determine the right balance between internal equity and market rate.
About Your Presenter:
- Identify the needs of your organization and employees
- Establish the role of compensation and the factors that influence it
- Create and articulate your organization’s compensation philosophy
- Determine market rate and job value
- Recognize the difference between market rate and internal equity—and when to consider each in the hiring process
Compensation & Leadership Solutions, LLC
Christian Britton has more than 10 years of experience designing and implementing compensation programs for a wide variety of organizations in high technology, government contractors, healthcare, not-for-profit and public sectors. Prior to joining Compensation & Leadership Solutions, LLC, he was a compensation consultant with PRM Consulting Group.
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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
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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
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|Licenses / Designations / Educational Credits:||PHR/SPHR Re-Certification|
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:|
Market rate, internal equity, compensation, hiring, new hire, pay rates, market competitive, salary range, starting rate, compensation administration, salary planning, base pay, compensation philosophy
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