This basic-level course focuses on general quantitative concepts, basic statistical tools, the mathematics of total compensation design and administration, mathematical modeling and regression analysis. Participants learn to consider data from numerous sources, with an emphasis on problem solving and decision-making.
Learn basic quantitative concepts and the four levels of measurement
Understand how to define and compare percents, market index and compa-ratios
Study the time value of money—including compound interest and the compound salary growth rate
Find out how to collect, analyze and accurately display statistical data
Learn how to determine central tendency and measures of central location
Discuss measures of variability
Explore shapes of distribution
Gain an understanding of modeling and regression analysis
Who Should Attend
This course is intended for those individuals who are relatively new to the field as well as experienced practitioners who seek a basic treatment for applying statistics in total compensation management. Participants will benefit most from this course if they are proficient in the concepts covered in course T1/GR1. It is assumed that participants have had no formal exposure to statistics, but have had a basic algebra course.
What You Will Learn
Statistics—Data, Information and Levels of Measurement
Why HR professionals collect and use data
Five key questions to ask about the variable of interest
Levels of measurement
Percents and Related Issues
Percents
Individual compa-ratio
Department compa-ratio
Market index
Percent difference
Developing salary ranges
Percents in benefits management
Time Value of Money
Compound interest and compound salary growth rate
Constant midpoint progression
Annuity payments
Statistics—Collecting, Organizing, Grouping and Displaying Data
Populations and samples
Frequency distributions
Organize, group and display data
Statistics—Lying with Statistics, Graphs and Displays
Recognizing distorted data
Mistakes that distort data
Statistics—Measures of Central Tendency and/or Location
Consider Bringing This Course to Your Location This professional development program and others offered by WorldatWork can be customized to meet the unique needs of your organization and delivered at your location. For more information, contact a Corporate Education Resource Manager at 877/710-5970 or 480/905-5980.
Please note: If you are purchasing course materials for the purpose of self-study or a computer-based exam, it is recommended that you schedule your exam within 45 days of purchase to ensure the course materials and exam are current. These exams must be completed within one year of purchase. Instructions for scheduling your computer-based exam will be provided at purchase. Learn more at www.worldatwork.org/cbt. Self-study binder purchases are nonreturnable.
Many WorldatWork classroom locations are now offering e-binder technology to participants. For these courses, which include all public education options and several Local Network sponsored events and international events, your certification course binder (and BAII calculator, if applicable) will be available for pick up on site the day of the course. The WorldatWork classroom participants will now have the opportunity to access the course binder electronically for two-day courses, as an e-binder PDF. The e-binder will be accessible two weeks prior to the course start date or upon registration if you register within two weeks of the course.
To help you prepare for your course, please visit www.worldatwork.org/seminars to download course book amendments, view class rosters and to find out what to bring to your class.
*Join now and receive the best value. This includes both a one-year WorldatWork membership and course registration. Add the course to your cart and then click "Join Now" before proceeding to check out.
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