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Compensation Fundamentals for HR: Job Benchmarking, Pay Surveys, and More for Recruiting and Retaining Talent - On-Demand

Compensation Fundamentals for HR: Job Benchmarking, Pay Surveys, and More for Recruiting and Retaining Talent - On-Demand

Product Code: YEWA121217D

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Compensation Fundamentals for HR: Job Benchmarking, Pay Surveys, and More for Recruiting and Retaining Talent - On-Demand

Webinar now available On-Demand.

WEBINAR SNAPSHOT: Learn the fundamentals of compensation planning from job benchmarking, pay surveys, incentive pay, and more for successful results.

HR professionals need to know the fundamentals of compensation planning if they are to succeed at recruiting and retaining talent. And, while most HR professionals aren’t full-fledged compensation experts, the good news is that they can learn key concepts, terms, and best practices so they can effectively use salary surveys, identify comparable positions by dissecting job duties, and more.

But, doing so, comes with many questions, such as:

  • What’s the difference between “mean” and “median” and what do “percentiles” represent?
  • Where should I start to establish the “building blocks” of the company’s compensation program?
  • What concepts and terminology are essential to know (and why)?
  • How competitive does our company need to be, based on our industry and location?
  • How do benefits and perquisites fit into our total compensation scheme?
  • What part will incentives play, if any?
  • Will there be a different approach for organizational levels?
  • What is the nature of “pay increases”? What will they be based on?

The answers will depend largely on your budget, industry, and location. But, by learning the fundamentals, you’ll be in a good position to ensure that your pay program is fair and competitive, which is essential for recruiting and retaining talent.

Use this in-depth on-demand webinar on how to analyze your compensation program, effectively use salary surveys and other compensation tools, and make your organization competitive and attractive to talent.

You’ll learn:

  • What it means to “lead” or “lag” the market
  • Steps for analyzing your pay program and how to compare it to others in your market
  • When to use and how to take a practical approach to pay surveys
  • What to do when you don’t find an exact title match for determining pay rates
  • How to analyze job duties to identify comparable positions
  • When to pay more or less than other similar organizations
  • The difference between traditional models and incentive pay
  • The advantages and disadvantages of merit-based pay
  • Best practices for setting minimum and maximums in pay ranges
  • Why you should consider internal and external equity
  • The relationship between benefits and your overall pay philosophy
  • Key compensation terminology every HR professional needs to know and why
  • And much more!

Learn the building blocks of a successful compensation program, including key concepts and terminology, and winning pay program strategies.

About Your Presenter:

David WudykaDavid Wudyka
Managing Principal
Westminster Associates

David Wudyka, MBA, BSIE, is Managing Principal and Founder of Westminster Associates, manages and oversees all company operations, including the design, development, and implementation of all client HR programs. With more than 30 years of professional HR experience, he has a strong interest today in the increasingly emerging role of the HR department as a strategic partner, employee retention strategies, and group incentive plans. Mr. Wudyka was one of the first 200 people in the United States to be certified in the field of Compensation by the former American Compensation Association. He is a member of Adjunct Faculty at UMass Boston.

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