This intermediate-level course provides an in-depth discussion of the principles, design, implementation and evaluation of an employee base pay program. Exercises will show how to design a pay program that is fair, competitive and supportive of an organization’s compensation strategy.
Identify the relationship between an employee total rewards program and an organization’s business strategy
Discuss the design of base pay programs and necessary considerations
Discover what it takes to implement and deliver base pay
Study the key elements in costing base pay and other compensation programs
Gain an overview of merit pay systems, including development and utilization
Address the effectiveness and efficiency of pay programs with monitoring and evaluation
Who Should Attend
This course is intended for emerging compensation practitioners with limited experience in developing pay structures. Attendees should be able to apply concepts and techniques covered in courses T1, T3, C1 and C2. Knowledge of basic mathematical concepts such as mean, median, weighted average, compa-ratio, percentiles and calculating percents is recommended, as well as an understanding of the concept of regression analysis.
What You Will Learn
Role of Base Pay in Total Rewards
Evolution from pay to rewards
The total rewards model
The total rewards design process
Compensation philosophy and strategy
Introduction to base pay
Job evaluation methods
Job worth hierarchy
Role of the compensation professional
Designing Base Pay Structures
Base pay structure
Building a base pay structure
Pay structure design considerations
Pay structure design
Broadbands
Practical Applications of Base Pay Structure Design
Exercise 1—Market pricing approach
Discussion exercise 2—Point factor approach
Discussion exercise 3—Integrating market data into point factor
Base Pay Implementation and Delivery
Pay approaches
Job-based pay
Person-based pay
Differentials
Pay actions
Communicating pay actions
Costing
Costing terms
Costing impact
Calculating base pay costs
Costing methods
Understanding compensation cost
Merit Pay
Principles of merit pay programs
The base pay investment
Merit increase guidelines
Administering and Evaluating Base Pay Programs
HR’s role in administering and evaluating a base pay program
Consider Bringing This Course to Your Location This professional development program and others offered by WorldatWork can be customized to meet the unique needs of your organization and delivered at your location. For more information, contact a Corporate Education Resource Manager at 877/710-5970 or 480/905-5980.
Please note: If you are purchasing course materials for the purpose of self-study or a computer-based exam, it is recommended that you schedule your exam within 45 days of purchase to ensure the course materials and exam are current. These exams must be completed within one year of purchase. Instructions for scheduling your computer-based exam will be provided at purchase. Learn more at www.worldatwork.org/cbt. Self-study binder purchases are nonreturnable.
Many WorldatWork classroom locations are now offering e-binder technology to participants. For these courses, which include all public education options and several Local Network sponsored events and international events, your certification course binder (and BAII calculator, if applicable) will be available for pick up on site the day of the course. The WorldatWork classroom participants will now have the opportunity to access the course binder electronically for two-day courses, as an e-binder PDF. The e-binder will be accessible two weeks prior to the course start date or upon registration if you register within two weeks of the course.
To help you prepare for your course, please visit www.worldatwork.org/seminars to download course book amendments, view class rosters and to find out what to bring to your class.
For Virtual CourseCast and Virtual CourseCast On-Demand, registrants will receive a course binder no sooner than 5-7 days after registration. The CourseCast On-Demand will become available 1 week after the last course day and access will end 90 days from registration.
**Participants attending from the same computer. Limit three per computer connection. If registering more than one attendee, please contact Customer Relationship Services toll-free at 877/951-9191.
*Join now and receive the best value. This includes both a one-year WorldatWork membership and course registration. Add the course to your cart and then click "Join Now" before proceeding to check out.
Base Pay Administration and Pay for Performance Certification Course: C4
This intermediate-level course provides an in-depth discussion of the principles, design, implementation and evaluation of an employee base pay program. Exercises will show how to design a pay program that is fair, competitive and supportive of an organization’s compensation strategy.
Identify the relationship between an employee total rewards program and an organization’s business strategy.
Discuss the design of base pay programs and necessary considerations.
Discover what it takes to implement and deliver base pay.
Study the key elements in costing base pay and other compensation programs.
Gain an overview of merit pay systems, including development and utilization.
Address the effectiveness and efficiency of pay programs with monitoring and evaluation.
Who Should Attend This course is intended for emerging compensation practitioners with limited experience in developing pay structures. Knowledge of basic mathematical concepts such as mean, median, weighted average, compa-ratio, percentiles and calculating percents is recommended, as well as an understanding of the concept of regression analysis.
What You Will Learn
Role of Base Pay in Total Rewards
The total rewards model
The total rewards design process
Compensation philosophy and strategy
Introduction to base pay
Job evaluation methods
Job worth hierarchy
Designing Base Pay Structures
Base pay structure
Building a base pay structure
Pay structure design considerations
Pay structure design
Broadbands
Practical Applications of Base Pay Structure Design
Exercise 1 — Market pricing approach
Discussion exercise 2 — Point factor approach
Discussion exercise 3 — Integrating market data into point factor
Base Pay Implementation and Delivery
Pay approaches
Differentials
Pay actions
Communicating pay actions
Setting new hire pay rates
Pay for Performance and Salary Budgeting
Principles of a sound pay for performance system
Principles of merit pay programs
The base pay investment
Merit increase guidelines
Creating a salary budget recommendation
Administering and Evaluating Base Pay Programs
HR’s role in administering and evaluating a base pay program
Consider Bringing This Course to Your Location This professional development program and others offered by WorldatWork can be customized to meet the unique needs of your organization and delivered at your location. For more information, contact a Corporate Education Resource Manager at 877/710-5970 or 480/905-5980.
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