C4: Base Pay Administration and Pay for Performance
Base Pay Administration and Pay for Performance
Design a Fair and Competitive Plan
This 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 deliver base pay.
Examine pay for performance merit pay systems including development, utilization and costing.
Address the effectiveness and efficiency of pay programs through monitoring and evaluation.
Discern how and when HR should be involved in mergers and acquisitions
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E-mail onsite@worldatwork.org or call 480-304-6980 to find out how you can bring this class to your location.
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
Differentials
Pay actions
Communicating pay actions
New hire pay rates
Pay for Performance and Salary Budgeting
Pay for performance
Compensation strategy and philosophy
Principles of merit pay programs
The base pay investment
Merit increase guidelines
Components of market-based salary budget
Administering and Evaluating Base Pay Programs
Monitoring pay levels
Compression
Maintaining pay structures
Base pay program review and audit
Mergers, Acquisitions and Base Compensation
HR involvement
Key priorities for HR in the process
HR participation on teams
Integrating compensation plans
Communicating compensation changes
Who Should Register
This course is intended for emerging compensation practitioners with limited experience in developing pay structures. Knowledge of basic mathematical concepts such as mean, median, weighted average, compa-ratio, percentiles and calculating percents is recommended, as well as an understanding of the concept of regression analysis.
Please note: If you are purchasing an exam option, you must schedule and complete the computer-based exam within 120 days from the first day of a live instructor-led class or from date of purchase for all self-paced learning packages. Your eligibility expires after 120 days; however, 30-day exam extensions are available for a $150 USD fee when purchased before the original access expires. It is recommended that you complete your exam in a timely manner as exams may be updated without notification. Instructions for scheduling your computer-based exam will be provided at purchase. Learn more at www.worldatwork.org/cbt. Self-study materials and all e-learning product purchases are nonreturnable.
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Integration of group and independent study
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Course Credits
