human resources management

How to Build a Pay Structure without Regression Analysis

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Building a pay structure without regression analysis brings many advantages. To start with, it is easier. Secondly, it brings one major advantage over regression techniques: it allows pay lines that consider the importance of various job classifications to the organization to be created and manipulated effortlessly. Once this is done, it will offer a proper method for doing so. The pay professional will be in a position to better explain what she has done, and also give an understanding of what it means, to the organization’s stakeholders.

Learning on how to build a pay structure without a regression analysis is what a webinar from TrainHR, a leading provider of professional training for the human resources areas, will offer. The core of this session, being organized on June 12, is to help build a pay structure, starting from hypothetical pay survey data. David J. Wudyka, an independent Human Resource Consultant, will be the expert at this webinar.

Want to gain valuable insights into how to do this? Please register for this session by visiting http://bit.ly/2WiJMan.

This webinar has been approved for 1.5 HR (General) recertification credit hours toward aPHR, PHR, PHRca, SPHR, GPHR, PHRi and SPHRi recertification through HR Certification Institute (HRCI).

This webinar, which is of immense value to Human Resource Managers, Compensation Analysts, Compensation Managers, and Financial Managers of HR Departments; will cover the following areas:

  • What data to use from pay surveys you possess
  • The importance of benchmark jobs and their associated data
  • How much survey data to use for building the pay structure
  • What a “weighted average” is
  • What to use as a measure of the pay range midpoint: “weighted averages” or “medians”?
  • The value of on-line pay data: is it quality data?
  • How wide pay ranges should be
  • The ideal range for “midpoint to midpoint spreads”
  • What the “seed data” should be for the development of pay ranges
  • How to test and integrate your employee pay rates into the new pay structure
  • How often to update your pay structures?

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About the expert: David J. Wudyka, SPHR, brings over 30 years’ experience in the profession. He is the Managing Principal of Westminster Associates in Wrentham, MA, a Human Resource Consulting firm offering a wide array of Human Resource consulting services, including the design of Compensation programs.

He is one of the first people in the United States certified in the Compensation field by the World At Work. David is also an Adjunct Faculty member at several universities in New England, including the University of Massachusetts at Boston and the Massachusetts College of Pharmacy and Health Sciences in Boston.

 

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