Compensation Essentials For HR: Comp Insider's Tips For Ensuring The Competitiveness Of Your Pay Plans

Webinar: ID# 1025121
Recorded On-Demand
About This Course:
As an HR professional, you need to have confidence in your compensation program’s ability to attract and retain the best employees.

But if you’re not a compensation expert, how can you ensure that your pay program is competitive and fair? Here are a few questions to consider:
  • What are the building blocks of a strong compensation program?
  • What are the key concepts and terms?
  • How competitive do you want to be, based on your industry and location?
  • How do benefits and perquisites fit into the total compensation scheme?
  • What part will incentives play?
  • Will there be a different approach to the compensation of managers?
  • Will there be pay increases? If so, what will they be based on?
Much depends on your budget, industry, and location. And even if you are not a comp expert, there are steps you can take to ensure that your pay program is fair and competitive.

Join us to learn how to analyze—and improve—your compensation strategy.

You’ll learn:
  • Determine your organization’s pay philosophy—and recognize the relationship between benefits and that overall philosophy
  • Analyze your pay program and compare it to others in your market
  • Use surveys to help benchmark yourself against your competitors
  • Discover when it’s acceptable to pay more or less than other similar organizations
  • Understand the difference between traditional models and incentive pay
  • Design an incentive pay program, if it fits with your strategy
  • Understand the advantages and disadvantages of merit-based pay
  • Set minimum and maximum pay grades, and factor in internal and external equity when reaching compensation decisions
  • And much more!
About Your Presenter:

David Wudyka, MBA, BSIE
Managing Principal
Westminster Associates

David Wudyka, MBA, BSIE, is managing principal and founder of Westminster Associates, manages and oversees all company operations, including the design, development, and implementation of all client HR programs. With more than 30 years of professional HR experience, he has a strong interest today in the increasingly emerging role of the HR department as a strategic partner, employee retention strategies, and group incentive plans. Mr. Wudyka was one of the first 200 people in the United States to be certified in the field of Compensation by the former American Compensation Association. He also teaches the HR Certification Course at UMass Boston and is a member of the Adjunct Faculty there.
Compensation Essentials For HR: Comp Insider's Tips For Ensuring The Competitiveness Of Your Pay Plans
Available or On-Demand format
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