Compensation Metrics: Get The Basics On Gathering And Calculating Data To Pay Employees Appropriately

If you are looking to improve your compensation program, it's important to look at the base pay metrics for your organization.

If you don't analyze your metrics, you run the risk of paying too much – or too little. Either way, it can affect your ability to hire and retain top talent. Specifically, the more you can base your numbers on solid industry metrics — and then successfully communicate that to employees — the better off your company' s bottom line will be overall.

But be aware that compensation metrics consist of more than just comparing how your salaries stack up against the competition.

There are many types of both internal and external compensation metrics that can be used to achieve the goal of improving an organization's overall compensation strategy, including compa-ratios and salary penetration ranges. It's also important to take a close look at a number of factors, including annual payroll, average hourly rate, number of employees, and more. All of which we will cover in this extensive webinar.

Learning Objectives

By attending, you and/or your team will learn:

• The most useful compensation metrics for managing your organization's compensation plan
  
• Most commonly used metrics, and how to understand them
  
• How to accurately calculate salary range penetration
  
• The relationship between salary range penetration and compa-ratio
  
• Linear regression: what is it, and how to use it effectively
  
• How reviewing employee compensation within a given salary range can help you zero in on whether your salary ranges are too wide or too narrow
  
• Best practices for using compensation metrics to determine if you're paying at, above, or below the market target
  
• Key questions you should be asking about your pay practices and overall compensation philosophy once you've gathered your data

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.