Defining a Remuneration Strategy That Guides Base
Pay Program Design
This intermediate-level course provides an in-depth discussion of the principles, design, implementation and evaluation of an employee base pay program. Exercises will show how to design a pay program that is fair, competitive and supportive of an organization’s compensation strategy.
Identify the relationship between an employee total rewards program and an organization’s business strategy
Discuss the design of base pay programs and necessary considerations
Discover what it takes to implement and delivery base pay
Study the key elements in costing base pay and other compensation programs
Gain an overview of merit pay systems, including development and utilization
Address the effectiveness and efficiency of pay programs with monitoring and evaluation
Who Should Attend
This course is intended for emerging compensation practitioners with limited experience in developing pay structures. Attendees should be able to apply concepts and techniques covered in courses GR1, GR2 and GR3. Knowledge of basic mathematical concepts such as mean, median, weighted average, compa-ratio, percentiles and calculating percents is suggested, as well as an understanding of the concept of regression analysis.
What You Will Learn
Role of Base Pay in Total Rewards
Evolution from pay to rewards
The total rewards model
The total rewards design process
Compensation philosophy and strategy
Introduction to base pay
Job evaluation methods
Job worth hierarchy
Role of the compensation professional
Designing Base Pay Structures
Base pay structure
Building a base pay structure
Pay structure design considerations
Pay structure design
Broadbands
Practical Applications of Base Pay Structure Design
Exercise 1—Market pricing approach
Discussion exercise 2—Point factor approach
Discussion exercise 3—Integrating market data into point factor
Base Pay Implementation and Delivery
Pay approaches
Job-based pay
Person-based pay
Differentials
Pay actions
Communicating pay actions
Costing
Costing terms
Costing impact
Calculating base pay costs
Costing methods
Understanding compensation costs
Merit Pay
Principles of merit pay programs
The base pay investment
Merit increase guidelines
Administering and Evaluating Base Pay Programs
HR’s role in administering and evaluating a base pay program
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.
Course & Certification Exam held in Brussels, Belgium: €1190 | €890 Member(Includes: course, binder and exam.)
Course & Certification Exam held in Singapore: S$ 2365| S$ 1785 Member (Includes: course, binder and exam.)
Course & Certification Exam held in Australia: AUD $995* (Includes: course, binder, exam.) Exam-only AUD $600* (to order call 877/951-9191) *Includes GST. (Credit cards will be charged at equivalent USD
rate. Exact rate may vary depending on credit card company conversion rate to AUD.)
Course & Certification Exam hosted by the Global Reward Consortium:
$1,810 USD
* | Member $1,220 USD(Includes: course, binder, exam and shipping.)
Self Study Package: $1,225 USD
* | Member $850 USD(Includes: course, binder, certification exam. Shipping & handling not included.)
Add to Cart
Certification Exam Only: $645 USD
* | Member $500 USD
Schedule/Registration
Please note: WorldatWork course and certification exam materials undergo frequent evaluation and revision. If you are purchasing course materials for the purpose of self-study, it is recommended that you schedule your exam within 30-45 days of purchase to ensure the course materials and exam are current. To schedule an exam please contact Customer Relationship Services toll-free at 877/951-9191 or e-mail customerrelations@worldatwork.org. Self-study binder purchases are nonreturnable.
For certification preparation courses held in Washington, D.C., Phoenix/Scottsdale, Brussels, Singapore and any one-day seminar held globally, course binders (and BAII calculator, if applicable) will be available for pick up on site the day of the course. All other registrants will receive a course binder no sooner than 5-7 days after registration. Playback is available 1 week after the last course day and expires 90-days from registration.
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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