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Creating And Using A Salary Increase Matrix

Date: Recorded
This webinar will discuss the concept, implementation and best practices associated with a merit matrix. Implementing a merit matrix is one of the easiest and most direct ways to link pay with performance and manage turnover.

Sharing of pitfalls that many companies encounter when implementing a matrix and how to avoid them will be addressed. Receive insight into varying types of merit matrix models, as well as an example of the implementation process.

AGENDA

Foundation of a Merit Matrix System – Market-Based Pay
What Is a Merit Matrix?
Why Use a Merit Matrix?
  • Motivate Employees
  • Drive Results and Retain Top Performers
  • Allocate Salary Increase Dollars in an Efficient and Fair Manner
Merit Matrix Pitfalls
  • Structures out of Alignment With Market
  • Calibration of Performance Scores
  • Matrix Not Conforming to Budget
Merit Matrix Model Example
  • Data Requirements
  • Selecting a Model
  • Employee Analysis
  • Final Results and Cost Detail
About The Presenter

Amber Duncan, SPHR
  • Manager of compensation consulting in the Human Capital Services Practice of CBIZ, Inc.
  • More than 13 years of experience in the area of human resources, focusing on designing innovative compensation programs
  • Senior Professional in Human Resources (SPHR) and Certified Compensation Professional (CCP)
  • Expertise includes designing market-based compensation programs, linking pay with performance, pay structures and compensation surveys, as well as developing policies and procedures
  • Assists clients in the design and implementation of strategic base salary and incentive programs
Order:
Creating And Using A Salary Increase Matrix
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