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Compensation Metrics: Get The Basics On Gathering And Calculating Data To Pay Employees Appropriately

Webinar: ID# 1034525
Recorded CD or On-Demand
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About This Course:
If you are looking to improve your compensation program, it's important to look at the base pay metrics for your organization.

If you don't analyze your metrics, you run the risk of paying too much – or too little. Either way, it can affect your ability to hire and retain top talent. Specifically, the more you can base your numbers on solid industry metrics — and then successfully communicate that to employees — the better off your company' s bottom line will be overall.

But be aware that compensation metrics consist of more than just comparing how your salaries stack up against the competition.

There are many types of both internal and external compensation metrics that can be used to achieve the goal of improving 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 annual payroll, average hourly rate, number of employees, and more. All of which we will cover in this extensive webinar.What You'll Learn:By attending, you and/or your team will learn:
  • The most useful compensation metrics for managing your organization's compensation plan
  • Most commonly used metrics, and how to understand them
  • How to accurately calculate salary range penetration
  • The relationship between salary range penetration and compa-ratio
  • Linear regression: what is it, and how to use it effectively
  • How reviewing employee compensation 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
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Compensation Metrics: Get The Basics On Gathering And Calculating Data To Pay Employees Appropriately
Available on CD or On-Demand formats
Qty:
Course Details
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