Need more options? Click Here for Advanced Search!

Job Grades and Equitable Pay Structure: Effectively Set Your Pay to Remain Competitive - On-Demand

Job Grades and Equitable Pay Structure: Effectively Set Your Pay to Remain Competitive - On-Demand

Product Code: YHWA072519D

Availability: In stock

Internet Special:
$249.00
Add Items to Cart

Job Grades and Equitable Pay Structure: Effectively Set Your Pay to Remain Competitive - On-Demand

Webinar now available On-Demand.


WEBINAR SNAPSHOT: Attendees will learn how to determine the value of the jobs in your organization, set up an internally equitable and externally competitive pay structure, and how to update the structure over time.


 

Determining the correct market rate for talent is challenging. If you’re underpaying an employee, he or she may move on. Overpay, and you’re potentially throwing cash away.  

The process of setting pay rates and pay ranges is increasingly becoming “transparent.” This transparency is intended to reduce the pay gap between men and women. Businesses, though, are still reliant upon the confidentiality of the pay survey process to set pay structures (i.e. integrated pay ranges). There is no other way, and the courts have supported this process. There is no other way to determine what the market pays, without surveying organizations. Consultants principally conduct such surveys and protect the participating organizations’ interests.

Unfortunately, some companies have no internal method of job evaluation to set grade levels. They only use the survey process to “market price” their job classifications. Other companies use internal job evaluation methods such as Point Factor Plans to grade their jobs. But even those companies rely on market data to establish their pay ranges. 

Therefore, with increasing pay transparency, the pressure is greater to ensure that your pay ranges are properly set relative to the market, while preserving the fiduciary nature of the pay survey process. Using market data can help you determine fair pay rates that can keep your organization competitive and permit the quality recruitment and retention of quality employees to occur.

But finding out what surveys to use, analyzing the data, and preparing your pay structure can be daunting. Not all surveys are created equal, and therefore the surveys’ quality should be screened carefully.

Some are overly complicated. You may need more than one survey to meet your needs. Pay surveys, if available, should be gathered locally, regionally and nationally. Also, you should be sure to gather data from companies like yours.

Once the survey report arrives, how do you use it? What are the key measures included and what do they mean? In this webinar we can help you to understand them.

Finally, building a pay structure solely upon market-based compensation can be intimidating, but it doesn’t have to be. In this webinar we will build a pay structure without the use of Regression Analysis. If you get “stuck” we will help you out!

Use this on-demand webinar on how to best set up and revisit your compensation plan as needed to ensure that you have an equitable pay structure.

After attending this webinar, you’ll learn:

  • What job grades are and how to determine them

  • How pay structures are built from pay survey data

  • When it makes sense to pay “above market”

  • Why it’s essential to use market data to determine pay ranges 

  • How market-based pay structures are different from traditional or broadband structures 

  • How to interpret survey data measures, such as the Weighted Average

  • How to protect yourself when using pay surveys

  • How to address pay discrepancies and inequities without creating legal liability

  • What to do about pay discrepancies between men and women in similar positions

  • And much more!

 

About Your Presenter

Dave Wudyka

David Wudyka
Managing Principal
Westminster Associates

David Wudyka, MBA, BSIE, 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 thirty 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. 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 teaches the HR Certification Program at UMass Boston.

Prior to starting Westminster Associates as a full-time business in 1988, Wudyka was an internal International and Domestic Compensation Consultant at Raytheon’s Corporate Headquarters, then located in Lexington, MA. He received an MBA in Organization and Management from Syracuse University, and is a graduate of the University of Rhode Island's College of Industrial Engineering where he received his B.S. degree in Industrial Engineering.


    Write Your Own Review