Advanced Compensation

Design an organization’s compensation plan from start to finish.

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Course details

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Registration details

Advanced Compensation

Design an organization’s compensation plan from start to finish.

What you’ll be able to do — competencies

  • Develop a compensation philosophy and policy that will best work for a case study profile
  • Conduct a job evaluation using a market analysis approach
  • Design an organization’s base pay structure
  • Analyze the extent of linkages between pay, employee performance, and organizational objectives
  • Learn what is needed in a compensation communication plan and develop strategies for the case study profile

Course description

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This course is designed to apply objectives, principles, regulations and terminology gained in the Compensation Basics class. Students will learn to design an organization’s compensation plan from start to completion. Through this hands-on class, students will learn to identify key steps in the design process, analyze organizational needs, translate those needs into compensation strategies, and develop a program that supports the organizational goals. Team case studies are used throughout the class, which will illustrate each step in the process of designing a compensation plan. Students will come away with a completed compensation packet and learn about how other teams with different case studies put together their compensation plans.

Prerequisites

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  • Basic Excel skills and successful completion of Compensation Basics or equivalent knowledge

Syllabus

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Session 1

Informational lecture:

  • Learn the basic components in a compensation philosophy and policy
  • Understand the administration considerations
  • Understand the essential components in a job description and how it relates to compensation

Session 2

Informational lecture:

  • Learn how to conduct a market analysis
  • Understand the different types of base pay structure
  • Learn how to develop a base pay structure
  • Learn how to plan for pay adjustments and incorporate appropriate links to performance including merit and incentives

Session 3

Informational lecture:

  • Understand and analyze the different pay methods
  • Learn how to recognize and determine the best pay method
  • Learn what is needed in a compensation communication the plan and develop strategies for the case study profile
  • Recap and lessons learned
  • Q & A

Next available start dates

We aren’t currently offering this course, but we do update our course offerings on a regular basis. Please check back or browse our catalog for more courses that may be available now.

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