| COURSE DESCRIPTION: You know the challenges that come with managing employee pay. Issues that top the list: 1) Retaining staff by paying a market competitive wage. 2) Controlling overhead by not overpaying. 3) Managing employee expectations of pay.
To overcome these challenges you may have considered structured pay ranges – but you realize this too carries risk. A pay range system that is improperly structured or mismanaged can lead to catastrophic results. Employees think their compensation is being unfairly capped, productivity drops, morale plummets and turnover skyrockets … starting with your most talented workers.
So how do you know you’ve got it right? What guidelines should you follow to determine how broad or narrow ranges should be? How can you be sure your structure is fair and balanced – and supports your organization’s long and short-term goals? What are the best practices for determining market-specific compensation levels, based on job functions, location and industry?
This conference will answer those questions and more. During this 60-minute presentation, our expert speaker will give you the nuts and bolts of how to make a pay range structure work – if you decide such a system is right for your organization.
Topics covered in this audio conference include:
- The market pricing process to determine competitive compensation levels
- Steps for implementing market-based pay grades – including how to get line managers to use them properly
- The Merit Matrix model and its advantages
- A system for providing market-competitive compensation and salary increases over time
- Policies and procedures needed for successful, consistent compensation practices
- How to handle "market adjustment" increases/decreases that reflect the true market value of a position
- Pay compression and what to do about employees who have "maxed out" of their pay range
ABOUT THE SPEAKER: Edward R. Rataj, CCP is the Managing Director of Compensation Consulting in the Human Capital Advisory Services practice of CBIZ Business Solutions of St. Louis, Inc. He has over twelve years of experience in the area of human resources, focusing on designing innovative compensation programs.
Prior to joining the Firm, Mr. Rataj served as a Compensation Consultant for Mellon (formerly known as Buck Consultants) and was employed by William M. Mercer. Mr. Rataj assists clients in the design and implementation of strategic base salary and incentive programs. His core areas of expertise includes designing market-based and job evaluation-based compensation programs, pay structures, and compensation surveys, as well as developing policies and procedures. Additionally, Mr. Rataj has experience in consolidating compensation plans for organizations completing mergers and acquisitions. He has consulted with numerous clients in various industries.
Mr. Rataj is a certified Compensation Professional (CCP), currently serves as the President of the St. Louis Compensation and Benefits Network (CBN) and is a member of WorldatWork (formerly known as the American Compensation Association).
MONEY-BACK GUARANTEE: We’re so confident you’ll get what you want out of this conference that we’ll refund your full fee if you’re not satisfied. It’s risk-free.
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