- Critical Evaluation
- Business Acumen
- HR Expertise
Providing time-tested compensation fundamentals and principles, this class is designed for human resources professionals who want to expand their knowledge of this key HR function. These fundamentals can be applied to any organization, regardless of size or industry.
Participants will develop a Total Rewards philosophy and work with a compensation model that begins with job analysis and introduces internal job evaluation and external market pricing. In addition, they will create pay ranges using real market data surveys and build a pay structure that focuses on business alignment. Hands-on exercises and group discussions assist participants in developing skills for creating, revising, or maintaining base pay compensation plans.
- Recognize the Total Rewards Model
- Create a Total Rewards Philosophy
- Explore job evaluation systems
- Conduct market pricing
- Develop pay ranges
- Build a pay grade structure
- Implementation and allignment with current pay practices
This foundational compensation class is best suited for managers, human resource generalists, or compensation specialists with 0-3 years of experience. It is also designed for those who have some responsibility or interest in the development and maintenance of an organization’s base pay program. It is highly recommended that participants complete this class, or have solid practical experience before taking Compensation Administration II: Advanced Concepts