Assembling A Pay Grade System: The Step-By-Step Process For Getting It Right

Webinar: ID# 1001694
About This Course:
As you review budgets, you may consider changes to your pay structure to get maximum value from employee compensation. Maybe you want to adjust pay ranges, re-rank jobs, shift positions around, review internal structure, or add variable pay systems into your compensation mix.

Whether your goal is to reward performance, time, knowledge, or a combination of all three, establishing and solidifying your pay grades is the first step in building an equitable, competitive compensation structure. If you don’t get your pay grades right, none of that salary survey data will matter and your compensation levels will still be too high or low.

Join us for an in-depth webinar on how to determine and assemble pay grades. Our presenter, a skilled compensation consultant, will teach you how to lay the groundwork for getting your entire job value puzzle right.

Learning Objectives:
  • What pay grades are and the correct way to determine them, for either creating or revising a structure
  • How a salary structure is built, with examples of different methods of putting them together
  • When to pay above market—and when it makes sense to pay below
  • Key ways that pay grades influence your performance/merit pay programs
  • How pay grades interact with variable pay
  • When and how to conduct an internal equity review
  • How to address pay discrepancies and inequities without creating legal liability
  • What to do about pay discrepancies between men and women in similar positions
  • Laws to consider when putting a compensation policy in place
  • Complying with Executive Order 11246, and how to handle increased EEOC anti-pay-bias enforcement
  • And much more!
In just 90 minutes, you’ll learn how to assemble an effective pay grade system

About Your Presenter:

Landon Petersen, an associate consultant with the Chicago Office of Hay Group, focuses on supporting clients with compensation and design, sales incentives, and executive compensation. He provides analytical and data visualization support on client projects and has worked with consulting clients in a broad range of industries, including financial services, energy and utilities, not-for profit, retail, industrial manufacturing, technology, municipal government, and consumer products.

Prior to joining Hay Group, Petersen focused on broad based compensation and plan administration and executive compensation at Ford Motor Company.

Petersen helps organizations design compensation programs that enable them to attract, retain, and motivate talent. In the sales effectiveness practice he analyzes market data to support the design and implementation of sales incentive plans. His executive compensation experience includes designing and modeling stock-based incentive plans. Petersen also performs general rewards job analyses and evaluations, market pricing, and internal equity analysis. He is currently pursuing his Certified Sales Compensation Professional designation from World at Work.
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