Compensation Metrics: How To Gather And Calculate Data To Evaluate If Employees Are Being Paid Appropriately
|Date / Time:
||5/3/2017 / 1:30 p.m. - 3:00 p.m. Eastern
Compensation metrics are intrinsic to the smooth operation of your company. If you’re looking to improve your compensation program, it’s important to look at the base pay metrics for your organization, which should align with your current business plan. If you don’t analyze pay metrics, you risk missing an opportunity to optimize your pay plan to ensure that it fits in with your overall compensation philosophy, as well as the organizational strategy.
Many types of both internal and external compensation metrics can be used to align pay with an organization’s overall compensation strategy, including compa-ratios and salary penetration ranges. It’s also important to take a close look at a number of factors, including:
Comp metrics are more than just comparing how salaries stack up against the competition. The more you can base your compensation numbers on solid industry metrics and then successfully communicate that to employees; the stronger your company’s bottom line will be overall.
- Total annual payroll
- Average hourly rate
- Turnover rate
- Revenue per employee
- Pre-tax profit per employee
- Cost per hire, and more.
Join us to learn the correct terms and most important metrics so you can justify, both to employees and management, where your organization is and where it should be headed when it comes to compensation.
About Your Presenter:
- The most useful metrics for managing your organization's compensation plan
- Comp analytics lingo and how to properly apply it
- Most commonly used metrics, and how to understand and explain them
- How to accurately calculate salary range penetration and compa ratio
- The relationship between salary range penetration and compa ratio
- Linear regression—what it is and how to use it effectively
- How reviewing employee pay within a given salary range can help you zero in on whether your salary ranges are too wide or too narrow
- Best practices for using compensation metrics to determine if you're paying at, above, or below the market target
- Key questions you should be asking about your pay practices and overall compensation philosophy once you've gathered your data
Rubino Consulting Services
John Rubino is the founder and president of Rubino Consulting Services. He 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. Mr. Rubino 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. 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 Johannesburg.
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|Licenses / Designations / Educational Credits:||PHR/SPHR|
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:|
Compensation, compensation metrics, salary surveys, employee pay, compa-ratios, salary range, John Rubino, Rubino Consulting, range penetration, rate range, pay practices, compensation philosophy, BLR, compensation webinar, HRHero, Thompson, Compensation Metrics How to Gather and Calculate Data to Evaluate If Employees Are Being Paid Appropriately
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