Compensation Training & Strategy
Best-Selling Training Courses:
Online Training Courses
Self-Study Materials
Need Compensation Training? Help With Developing A Compensation Strategy?
Searching for compensation training or assistance in developing an effective compensation strategy? Then you've come to the right place!
Compensation is one of the primary and most-visible employee benefits. Therefore, setting up and managing your compensation plan should be a top priority. But how do you know whether you are pricing jobs fairly? Paying above or below market rate?
Employers often spend hundreds of man-hours developing their firm's compensation strategy looking at things like executive compensation to metrics to benchmarking their pay and compensation strategy against competition.
Key Elements Of Compensation Strategy - And Our Compensation Training CoursesHRTrainingCenter offers a number of compensation training courses to help with your compensation strategy, planning, and execution. By taking these courses, you will learn or be able to:
- Understand the elements of a pay program and common compensation terms
- The various types of direct compensation
- Compensation philosophy and strategy: what should be included
- Recognize factors that influence a compensation plan
- Cite the various compensation methods and uses (Executive Compensation, Sales
- Compensation, Incentive Pay, Bonuses, etc.)
- Establish an effective compensation philosophy and strategy
- Conduct job evaluations
- What comp analytics are and why they matter
- Collect survey data and perform market analysis
- Develop salary ranges and grades
- Understand the basic ongoing tasks necessary to administer a compensation program
- Evaluate your compensation plan
- Regulatory and legal issues in compensation
- Communicating and evaluating compensation programs
- Compensation resources and trends affecting your compensation strategy
- How to use compensation metrics to nail the true cost of recruitment, retention, benefits, and turnover
Is Your Compensation Plan Competitive?
If you organization is having trouble attracting and retaining talent, it could be because your pay offer is not competitive. The best way to determine if this is the case is to do a compensation benchmark analysis.
Our "Compensation Benchmarking Service" provides you with competitive pay data you need to help make informed job offer decisions.
For more details, or to order this service, go to
https://HRTrainingCenter.com/Compensation-Benchmarking-Service-pa1007765Find Compensation Training Courses For Managing Your Compensation Plan
HRTrainingCenter.com offers compensation training courses and resources, including ways to set up and manage a compensation plan.
Listed below are some of our most-popular compensation training courses, including our Compensation Training & Certification Program. Either select on of the recommended courses or select "Compensation" from the "Professional Development" section of the search box below.
Best-Selling Training Courses:
Online Training Courses
Self-Study Materials
Top FAQs
A Compensation Plan consists of the salary, wages, commissions, benefits, and perqs paid to attract and retain employees.
Compensation planning is the process of defining and implementing the strategies that will be used to attract, motivate, and retain talent to help an organization meet its operating objectives and employee needs.
Yes. Certain types of Compensation Plans do require a written plan document, plus have certain notice and reporting requirements.
ERISA does not require any employer to establish a retirement plan. It only requires that those who establish plans must meet certain minimum standards.
Some of the work involved in developing a Compensation Plan includes analyzing and evaluating jobs, performing market surveys, writing job descriptions, and communicating and evaluating your plan.
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