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Market-Based Pricing: How To Use Market Data To Set Salary Ranges And Retain Top Talent

Webinar: ID# 1032113
Recorded On-Demand
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About This Course:
Determining the correct market rate for talent is a tall order. If you’re underpaying an employee, he or she may move on. Overpay, and you’re potentially throwing cash out the window.

Finding valid market data to assess and establish your pay rates can go a long way toward helping keep your organization running productively. It can be tricky, however, to find and accurately interpret the salary survey information you need and, as an HR professional, shifting your pay structure to one that is balanced with market-based compensation can be intimidating. It doesn’t have to be, though.

Join us when Diana Neelman, CCP, SHRM-CP of Compensation Resources Inc. (CRI), will show you how to use market data to improve hiring and retention, what data is most effective to use, how best to design your salary structure, and how to balance competitiveness with reasonable pay.

In just 90 minutes you’ll get vital information on how to use market data to your best advantage to attract and retain the top employees needed for your organization’s success!

You’ll learn:
  • Why it’s essential to use market data to determine salary ranges
  • How market-based pay structures are different from broadband or step structures—and why you should consider one
  • Why current job descriptions are essential when you need to re-evaluate jobs
  • How to select benchmark jobs, and how to use compensation surveys to determine market competitiveness, based on the size and location of your company
  • How to facilitate buy-in from management and staff
  • How to pay employees relative to the salary ranges for their jobs
  • And much more!
About Your Presenter:

Diana D. Neelman, CCP, SHRM-CP
Principal, EVP
Compensation Resources Inc. (CRI)

Diana D. Neelman is a Principal and the Executive Vice President of CRI and has been with the firm for over 23 years. With over 28 years of collective compensation and human resources experience, Ms. Neelman is responsible for business development and project management in all areas of compensation, consulting to a variety of industries on salary administration, performance management and incentive compensation, with a specific emphasis on executive and general compensation matters within not-for-profit organizations. Ms. Neelman is also responsible for developing and conducting training programs covering various compensation topics, presenting to both clients and to the external marketplace. Furthermore, she oversees CRI’s Survey Department, which publishes various compensation studies each year

Prior to her assignment with CRI, she was employed as a Human Resource Generalist for Citizens First National Bank/NatWest Bank (currently Bank of America), and was responsible for various functions including compensation and benefits, HRIS and recruitment. Ms. Neelman received a Bachelor of Arts from the State University of New York at Binghamton. In addition, she is a current member of WorldatWork and maintains the designation of Certified Compensation Professional (CCP), and is a member of the Society of Human Resource Management (SHRM) and maintains the designation of SHRM Cerfitied Professional (SHRM-CP).
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Market-Based Pricing: How To Use Market Data To Set Salary Ranges And Retain Top Talent
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