Feb 17, 2016, 9:00 AM - 10:30 AM (Pacific)
Category: Salary Administration
Field of Study: Specialized Knowledge & Applications
Audience: HR Managers, Compensation Managers, Compensation Analysts, HR Generalists, Managers
Level of Difficulty: Basic
Delivery Method: Group Internet-Based
External competitiveness is a prime objective for most organizations, but the approach taken to measure competitiveness may differ from one organization to another. In fact, competitive objectives may change within the same organization over time, especially when financial performance fluctuates.
The goal of "market pricing" is to collect and analyze data that will meet the organizational objective of identifying external competitiveness. Market pricing is not an exact science, but a sound and practical approach using summary statistics from published surveys that can add validity to the market pricing process.
This webinar will discuss practical guidelines that may be used for identifying, selecting, analyzing, and using market data to complete essential tasks in determining external competitiveness and establishing a competitive market-based pay program. The importance of communicating the compensation program effectively will also be discussed and practical tips will be provided to assist you in “getting the message” to your employees so that they may understand and, ultimately, buy into the program.
- How to define your organization’s compensation philosophy and market pricing objectives
- Identification and selection of salary survey sources
- The importance of matching benchmark jobs
- How to interpret salary survey data
- How to determine market rates and competitiveness of current pay
- Considerations in developing salary ranges
- Ways to adjust or update a pay structure
- Tips on communicating the compensation plan
Linda Cox, CCP
Linda is the Compensation Project Manager at ERI Economic Research Institute and has over 30 years of Global Compensation Director-level and consultative experience with major multi-national corporations such as Allergan, Beckman Coulter, Quest Software and Dell. She holds a Bachelor of Science Degree in Business Education from California State University, Long Beach, and is a Certified Compensation Professional. She is currently volunteering as Treasurer of The Orange County Compensation & Benefits Association. Linda's business and personal travel has taken her to 31 countries and almost 300 cities throughout the world. She also established the Allergan International Assignment Program which grew to 67 expatriates during her 16 year Allergan career.
- Salary Assessor® Compensation Software: You will receive a free demo edition of ERI's Salary Assessor software, which provides the most extensive analysis of competitive rates in existence. This tool has been used by thousands of organizations since 1987 and provides salary and incentive pay for more than 6,300 positions. Salary data in the Assessor may be reported by organization size, industry, and geographic location; reliability statistics are provided. A specific salary planning date may be selected to ensure that data is aged to meet the user's needs. A benchmark list may be used within the program for ease in analyzing total competitiveness.
- Webinar PowerPoint Presentation: All attendees will receive the PowerPoint slideshow for this webinar and may use it in staff training.
- To view and listen to the presentation you need:
- Computer/tab/phone with browser and internet connection
- Either a phone or computer speakers.
- Adobe Flash Player 13+. You can download Flash if you need it.
- Adobe Connect Mobile for iOS and Android. You can download the free app if you are using a mobile device.
Run this System Test to be sure you can join the webinar.
Supported Operating Systems and Browsers
- 1.4GHz Intel® Pentium® 4 or faster processor (or equivalent) for Microsoft® Windows® XP, Windows 7 or Windows 8
- Windows 8.1 (32-bit/64-bit), Windows 8 (32-bit/64-bit), Windows 7 (32-bit/64-bit), Windows XP
- 512MB of RAM (1GB recommended) for Windows XP, Windows 7 or Windows 8
- Microsoft Internet Explorer 8, 9, 10, 11; Mozilla Firefox; Google Chrome
- Adobe® Flash® Player 13+
- 1.83GHz Intel Core™ Duo or faster processor
- 512MB of RAM (1GB recommended)
- Mac OS X 10.7.4, 10.8, 10.9
- Mozilla Firefox; Apple Safari; Google Chrome
- Adobe Flash Player 13+
- Apple supported devices: iPhone 5S, iPhone 5, iPhone 4S, iPad with Retina display, iPad 3, iPad 2, iPad mini, and iPod touch (4th & 5th generations)
- Apple supported OS versions summary: iOS 6 and higher
- Android supported devices: Motorola DROID RAZR MAXX, Motorola Atrix, Motorola Xoom, Samsung Galaxy Tab 2 10.1, Samsung Galaxy S3 & S4, Nexus 7 tablet
- Android supported OS versions summary: 2.3.4 and higher