Comp 101 Bootcamp: How to Effectively Develop Competitive Pay Plans for Your Organization

Comp 101 Bootcamp Recording

A well-organized pay program is more important than ever in the years following the height of the Great Recession. Merit budgets are smaller, compensation programs are challenged, and employers must do more with less. We are also seeing philosophical changes occurring at the highest levels of government with respect to the idea of “pay for performance,” such as demands for aggressive approaches to reducing the Wage Gap between men and women.

These are just some of the issues organizations are dealing with as they determine pay scales and compensation plans. In order to keep up with other employers, as well as to keep and retain top talent, it's a must for you to be up-to-date on the latest trends so you can remain competitive.

Participate in this interactive extended webinar, and you'll learn about these topics and more:

• Job Analysis and Job Descriptions
• Job Evaluations
• Pay Surveys and Pay Ranges
• In-Grade Pay Strategy and Performance Management
• Incentive-Based Pay Plans
• And much, much more...

Boot Camp Schedule 
(All times below are Eastern – please adjust for your time zone.)

Session 1: 11:00 a.m. - 12:00 p.m. 
The Combined Approach to Job Analysis and Job Descriptions

• An overview of Job Analysis: the “study of work”
• The three main information collection techniques
• The primary and secondary sources of job information you should turn to
• Job description writing: why it is more important than ever before!
• Whether there’s a standard format for a job description you should follow

Session 2: 12:00 p.m. – 1:00 p.m. 
Job Evaluation: Why Is This Worth the Effort?

• Everything you need to know about job evaluations
• What a job evaluation plan (JEP) is and why you should care
• Basics of fully defensible pay systems
• The various approaches to job evaluations
• How market pricing differs from a job evaluation -- and why it's important to know the difference

Break: 1:00 p.m. – 1:30 p.m. 

Session 3: 1:30 p.m. – 2:30 p.m. 
Pay Surveys and Pay Ranges

• The legalities of pay surveys
• Where to go for reliable pay survey data
• What survey data is absolutely critical
• Why pay ranges are important and how to successfully design and update them
• The difference between traditional and “broadband” pay ranges

Break: 2:30 p.m. – 2:45 p.m. 

Session 4: 2:45 p.m. – 3:45 p.m. 
In-Grade Pay Strategy and Performance Management

• The love-hate relationship many employers have with merit pay
• How the merit system is supposed to work
• The real purpose of general increases and the common misconception employers make about cost-of-living vs. cost-of-labor increases
• Examples of automatic increases/semi-automatic increases, such as time-based rewards
• How to correct pay inequities -- and other pay anomalies
• Tips for avoiding the cost spiral of title inflation
• How to link performance appraisals to merit pay systems
• When merit pay is not enough – and what to do in these situations

Session 5: 3:45 p.m. – 4:45 p.m. 
Incentive-Based Pay Plans

• The definition of “incentive”
• What incentives should be used and what the best motivators are
• The most effective incentive plans options you should consider
• Whether you can use more than one incentive plan in your organization
• How to sell the plan to senior management
• How to avoid wasting money
• How gain-sharing plans may be used as a way to unify the workforce
• The traditional bonus plans that still pack a power punch
• How to figure out whether or not your plan actually works – and, if not, what to do to fix it

Comp 101 Bootcamp: How to Effectively Develop Competitive Pay Plans for Your Organization

About Your Speakers:

Chuck Csizmar is a Global Compensation Consultant and the founder and principal of CMC Compensation Group, a professional services provider specializing in analytic, project management, and consultative services for US and international clients. Mr. Csizmar has a deep and broad experience in the design, implementation, and communication of US and international compensation programs.

Lori Glasgall owner and founder of Integrated Compensation Solutions, Inc., has more than 25 years of experience in the field of compensation including over seventeen years of consulting experience and eight years of corporate experience. Ms. Glasgall's background includes a wide range of compensation design initiatives including the evaluation, design and implementation of a variety of base pay, variable pay, international compensation, and performance management programs.

Katie Miller Busch is the owner of HR Compensation Consultants, LLC and offers more than 15 years of progressive compensation experience having worked in various industries, including high-tech, loyalty marketing, biopharmaceuticals, retail, manufacturing, and logistics solutions. She started her career in governmental consulting working exclusively for cities, counties, and state agencies in the United States. Her recent experience also includes implementing classification and pay plans for countries in Latin America and Europe