Pre-Approved for 3 HRCI Credits & SHRM PDCs
Employee compensation is the single largest line item in every company.  It can play a large part in helping your organization attract, retain and motivate your employees.  This course will take you through the beginning steps of developing a compensation plan for your organization.
You will learn how to develop a compensation philosophy and strategy for your organization, and why your compensation strategy should be tied directly to your business plan and company goals.  Also included is how to choose market data sources, and price new positions within the company. Participants will have an opportunity to share ideas, discuss common problems, and ask questions.
Topics that will be covered include:

Developing Your Compensation Philosophy and Strategy
Steps in Developing a Compensation Plan
Compensation Terminology
Choosing and Using Market Data Sources

After completing this course, participants will be able to:

Identify the business reasons, philosophies, and goals behind the creation of a base pay compensation plan
Develop a compensation philosophy and strategy for their organization
Be familiar with basic terminology relating to pay plans
Define their market for talent and how to price new positions