ID or email       

Design a Fair and Competitive Plan

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 deliver 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.

What You Will Learn

Role of Base Pay in Total Rewards

• The total rewards model
• The total rewards design process
• Compensation philosophy and strategy
• Introduction to base pay
• Job evaluation methods
• Job worth hierarchy

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
• Differentials
• Pay actions
• Communicating pay actions
• Setting new hire pay rates

Pay for Performance and Salary Budgeting

• Principles of a sound pay for performance system
• Principles of merit pay programs
• The base pay investment
• Merit increase guidelines
• Creating a salary budget recommendation

Administering and Evaluating Base Pay Programs

• HR’s role in administering and evaluating a base pay program
• Monitoring pay levels
• Compression
• Maintaining pay structures
• Base pay program review and audit

Mergers, Acquisitions and Base Compensation

• HR involvement
• Key priorities
• Compensation plan
• Integrating compensation plans

	Credits CCP: Required Certificate in Salary Administration: Required; Recertification: 2 course, .5 Exam CEUs: 1.5 Course, .3 Exam CPEs: 16 CPT: 12 points CPIM/CFPIM/CSCP: 14 points PHR/SPHR/GPHR recertification hours: 16 (classroom); 14 (live CourseCasts) GRP Equivalency: GR4
	Faculty/Course Contributors
	Course book amendments
	Test your knowledge

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.