This introductory seminar is designed to familiarize attendees with the process of total rewards compensation design and decision-making considerations. It focuses on both the impact and characteristics of a compensation system.
- Discuss elements of a total rewards program, the total rewards model and elements of compensation
- Gain an understanding of the laws and regulations within which compensation programs operate
- Learn about the sequential processes of job analysis, job documentation and job evaluation
- Address the issue of external competitiveness — job pricing and the use of labor market data to determine competitive position
- Discuss pay determination systems and learn alternatives commonly used in companies
Who Should Attend
This class will benefit all functional managers and supervisors; human resource, financial and payroll personnel; small-business owners; entrepreneurs; and members of job-evaluation or compensation committees.
What You Will Learn |
The Compensation Component of Total Rewards
- Definition of total rewards
- Total rewards model
- Why the total rewards approach?
- The total rewards design process
- Compensation
- Elements of compensation
- Objectives of compensation
- Compensation goals and tools
Legal/Regulatory Environment
- Pay and legal issues—how much do you know?
- Fair Labor Standards Act
- Equal Pay Act
- Title VII—Civil Rights Act
- Other statutes and regulations
Job Evaluation
- Terms and definitions
- Job analysis
- Job documentation
- Job description format
- Job evaluation
External Competitiveness & Pay Structures
- Job pricing
- Relevant labor markets
- Types of compensation information available
- Sources of survey data
- Data analysis
- Determining market position
- Developing a base pay policy line
- Organization response to market data
- Pay range design issues
- Maintaining pay structures
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Base Pay Determination
- Pay approaches
- Job-based pay
- Person-based pay
- Range divisions
- Position in range
- Merit pay
- Characteristics of a sound performance appraisal system
- Alternatives to base pay
- Effective compensation strategies
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. |
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