Market Pricing: Conducting a Competitive Pay Analysis
Learn to Conduct an Effective Compensation Analysis Methodology to Determine a Job’s Market Value
Attracting and retaining your organization’s top talent requires providing competitive wages and salaries. This course will empower you with the skills needed to market price benchmark jobs and slot non-benchmark jobs into a salary structure you create based on your interpretation of your organizations compensation philosophy. You will learn a consistent methodology for conducting a competitive pay analysis and assess whether it will support your human resources hiring and retention goals and your organization’s business strategy.
Throughout the course, you’ll gain hands-on experience developing your data utilization skills and cover:
- Common compensation strategies, base pay structure design and the establishment and use of a job-worth hierarchy.
- Salary survey data sources and usage coupled with a case study to bring the principles to life.
- The role of market pricing and salary/pay structure as it relates to your organization’s business strategy.
- How to communicate market pricing to senior management and more broadly within your organization.
The course is ideal for HR and compensation professionals responsible for salary benchmarking and compensation program development or who have an interest in learning more about this area.