Webinar on Using Statistics in Compensation
Course
Online
*Indicative price
Original amount in USD:
$ 145
Description
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Type
Course
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Level
Intermediate
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Methodology
Online
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Class hours
1h
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Duration
1 Day
This webinar will explain the statistics behind pay program design and administration like how to create and analyze pay range widths and understanding the statistics of pay structure design
About this course
The TrainHR webinar is approved by HRCI and SHRM Recertification Provider.
Overview:
This webinar will address the statistics behind pay program design and administration, from the design of pay structures through the analysis of pay survey data.
It will explore how practitioners create and analyze pay ranges, pay survey data, individual and group pay rates, and other elements of a compensation program. It will address such questions as: how do you calculate minimums and maximums of a pay range, knowing just the new midpoints? what is a compa-ratio, and how are they used? how do you calculate a percentile, and how are percentiles used? why are weighted averages used by the majority of Compensation practitioners, and not the median? what is the difference between simple regression analysis and multiple regression analysis, and how do practitioners use these concepts in a practical way? what is correlation analysis and how does this analysis help in pay program administration? when you are creating new pay structures, how can you estimate the number of grade levels between new midpoints using selected midpoint to midpoint spread percentages? why do practitioners divide pay ranges into quartiles?Knowing these statistical concepts can improve your ability to create and analyze your compensation program.
http://www.trainhr.com/control/w_product/~product_id=702122LIVE/?channel=emagister-july_2018_SEO
Compensation Analysts
Human Resource Managers
Human Resource Generalists
Financial Managers
Human Resource Managers who are New to the Compensation Function
Reviews
Subjects
- Statistics
- Design
- Compensation
- HR
- HR issues
- HR policies
- Hr regulations
- HR Practices
- Employment Law
- Employment Tax
Teachers and trainers (1)
David J Wudyka
Managing Principal of Westminster Associates of Wrentham
Course programme
- How to create and analyze pay range widths ("spreads")
- Why "weighted averages" are more widely used than "medians"
- Defining "means", "medians" and "modes" (and how to use them)
- How to understand the statistics of pay structure design
- Understanding the difference between regression and correlation analysis, and how to apply them effectively in pay program analysis
- How "percentiles" differ from "percents", and how to calculate them
- How to calculate rate range minimums and maximums from estimated midpoints
- Calculating the "penetration" of pay rates in pay ranges
- The Compa-ratio: what it is, how to calculate it and how to used it
- Why pay ranges are divided into "quartiles"
- The difference between "linear regression" and "multiple regression"
- How to estimate the number of grade levels between two new pay structure midpoints
- What are "measures of central tendency" and why are they important for analysis?
Webinar on Using Statistics in Compensation
*Indicative price
Original amount in USD:
$ 145