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Overview:

This will answer the question "what does a Compensation practitioner do"?

A formal Compensation program consists of six parts: Job Analysis, Job Descriptions, Job Evaluation, Pay Surveying Pay Range Construction, and In-Grade Pay Strategy. An optional seventh element is Incentive Pay Plans.

Within each of these areas, there is a role for the Compensation Analyst.

Why you should Attend: To understand the basic elements and activities of a COMPENSATION Department

Areas Covered in the Session:

• This will answer the question "what does a Compensation practitioner do?
• The Program will describe the elements above and their framework in the Department
• Job Analysis: The Study of work. How does an Analyst collect the necessary information?
• Job Descriptions: What is the Analyst's role in this process? How is it done? Why is it important?
• Job Evaluation: How does an Analyst evaluate the relative worth of jobs?
• PaySurveys: What is the Analyst's role in obtaining pay data? How is it acquired?
• Pay Structures: What is a "pay structure"? How is it built? When does it change?
• In-Grade Pay Strategy: What are the options? What is "best"? How is the strategy administered?
• The Seventh Step: Incentive Plans: Do you need them? Which Plans? The Administrator's role

Who Will Benefit:

• Human Resource Managers
• Compensation Analysts
• Compensation Managers