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GR1 Total Rewards Management - SARA storage/GRP Detailed Course Outline 2011.pdf · GR1 Total...

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GR1 Total Rewards Management 3.06.1 Course Overview This basic-level course is specifically designed to be the first course in the Global Remuneration Professional (GRP) certification course sequence. Participants are introduced to the total rewards model and its three components: remuneration, benefits and the work experience. Emphasis is given to the concept of the total rewards design process. Finally, participants are introduced to the general skills needed by the HR professional to become an effective strategic business partner. Intended Audience This course is intended for those new to the compensation and benefits field or for generalists with limited exposure to compensation and benefits functions seeking a basic overview of total rewards. Course Outline MODULE 1 Introduction to Total Rewards Begins the discussion of total rewards management by defining total rewards and looking at the process of developing a total rewards strategy. The evolution of rewards The total rewards model The total rewards approach The total rewards strategy MODULE 2 Compensation Explains compensation, including the elements of a base pay structure and discusses its importance in total rewards design. Elements of compensation Building a job worth hierarchy Components of a base pay structure Types of base pay Types of pay adjustments Variable pay MODULE 3 Benefits Details the various components of benefits that are available for total rewards design. Benefits Elements of benefits Factors influencing benefits Income protection programs Pay for time not worked programs MODULE 4 Work-Life Explains the elements of work-life and details the work-life portfolio. Work-life The work-life professional The work-life portfolio Continued on next page
Transcript
Page 1: GR1 Total Rewards Management - SARA storage/GRP Detailed Course Outline 2011.pdf · GR1 Total Rewards Management ... issues associated with performance appraisals. ... Linking Performance

GR1

Total Rewards Management

3.06.1

Course Overview

This basic-level course is specifically designed to be the first course in the Global RemunerationProfessional (GRP) certification course sequence.Participants are introduced to the total rewardsmodel and its three components: remuneration,benefits and the work experience. Emphasis is givento the concept of the total rewards design process.Finally, participants are introduced to the generalskills needed by the HR professional to become aneffective strategic business partner.

Intended Audience

This course is intended for those new to thecompensation and benefits field or for generalistswith limited exposure to compensation and benefitsfunctions seeking a basic overview of total rewards.

Course Outline

MODULE 1

Introduction to Total RewardsBegins the discussion of total rewards managementby defining total rewards and looking at the processof developing a total rewards strategy.

• The evolution of rewards• The total rewards model• The total rewards approach• The total rewards strategy

MODULE 2

CompensationExplains compensation, including the elements of abase pay structure and discusses its importance intotal rewards design.

• Elements of compensation • Building a job worth hierarchy• Components of a base pay structure• Types of base pay• Types of pay adjustments• Variable pay

MODULE 3

BenefitsDetails the various components of benefits that areavailable for total rewards design.

• Benefits • Elements of benefits• Factors influencing benefits• Income protection programs• Pay for time not worked programs

MODULE 4

Work-LifeExplains the elements of work-life and details thework-life portfolio.

• Work-life• The work-life professional• The work-life portfolio

Continued on next page

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GR1Total Rewards Management

continued

MODULE 5

Performance and RecognitionDiscusses both the performance managementprocess and approaches to showing recognition inorganizations.

• Performance and recognition• Performance management• Performance management process phases

•• Phases 1 through 4• Recognition programs

MODULE 6

Development and Career OpportunitiesDiscusses learning opportunities to enhance presentjobs as well as those to support future career plansand various types of development and careeropportunities.

• Development and career opportunities• Conduct annual development and career

opportunities discussion•• Phases 5

• Learning opportunities• Types of development and career opportunities

MODULE 7

Total Rewards – Putting It All TogetherExplains the drivers for the total rewards strategy,including organizational culture, business strategyand the human resource strategy. The total rewardsdesign process and design considerations areaddressed.

• Revisiting the total rewards model• Drivers of the total rewards strategy• The total rewards strategy• The total rewards design process• Total rewards design considerations

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GR2

Quantitative Methods

3.05.2

Course Overview

This basic-level course is one of the CCP/CBPcommon core courses offered by WorldatWork. It focuses on general quantitative concepts, basicstatistical tools, the mathematics of total remunera-tion design and administration, mathematicalmodelling, and regression analysis. Participants learnto consider data from numerous sources, with anemphasis on problem solving and decision making.

Intended Audience

This course is intended for those individuals who are relatively new to the field as well as experiencedpractitioners who seek a basic treatment for applyingstatistics in total remuneration management. Partici-pants will benefit most from this course if they areproficient in the concepts covered in Course GR1 –Total Rewards Management. It is assumed thatparticipants have had no formal exposure tostatistics, but have had a basic algebra course.

Course Outline

MODULE 1

Statistics – Data, Information and Levels of MeasurementIntroduces basic quantitative concepts and the fourlevels of measurement.

• Why HR professionals collect and use data• Five key questions to ask about the variable of

interest• Levels of measurement

MODULE 2

Percents and Related IssuesDefines and compares percents, market index and compa-ratios.

• Percents• Individual compa-ratio• Department compa-ratio• Market index• Percent difference• Range penetration• Developing salary ranges• Percents in benefits management

MODULE 3

Time Value of MoneyAddresses the time value of money, includingcompound interest and the compound salary growth rate.

• Time value of money• Compound interest and compound salary

growth rate• Constant midpoint progression• Annuity payments

MODULE 4

Statistics – Collecting, Organising, Groupingand Displaying DataIntroduces statistical analysis.

• Populations and samples• Frequency distributions

•• Organise, group and display data

Continued on next page

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GR2Quantitative Methods

continued

MODULE 5

Statistics – Lying with Statistics, Graphs and DisplaysExplains how to accurately display data.

• Recognising distorted data• Mistakes that distort data

MODULE 6

Statistics – Measures of Central Tendencyand/or LocationAddresses measures of central tendency andmeasures of central location.

• Measures of central tendency• Measures of location• Percentile bars

MODULE 7

Measures of VariabilityDiscusses measures of variability.

• Measures of variability•• Range•• Standard deviation

• z-scores

MODULE 8

Statistics – Shapes of DistributionsAddresses shapes of distributions.

• Interpreting distributions• Normal distribution

MODULE 9

Regression AnalysisIntroduces modelling and regression analysis.

• Regressions models in an HR environment• Developing a regression model• Cautions in the interpretation of correlations• Multiple regression

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GR3

Job Analysis, Documentation

and Evaluation3.02.6

Course Overview

This basic-level course examines the methods andprocesses that support job analysis, job documenta-tion and job evaluation.

Intended Audience

This course is designed for the participant whounderstands the topics covered in Course GR1. The participant with several years of experience inthe field will find the course valuable as a review of standard practice and theory, and as an update on current trends.

Course Outline

MODULE 1

Strategic OverviewProvides a strategic overview of the conceptsassociated with job analysis, job documentation and job evaluation, and introduces terms that will be used throughout the course.

• The total rewards model• Human resources strategy• Building a base pay structure• Terms and definitions

MODULE 2

Job AnalysisExamines job analysis and the planning andimplementation required to carry it out.

• Job analysis• Sources of job information• Job analysis communication• Possible sources of error

MODULE 3

Job DocumentationCovers job documentation, with an emphasis on thecomponents and format of effective job descriptions.

• Types of job documentation• Job descriptions• Job description format• Job description preparation

MODULE 4

Market-Based Job EvaluationBegins the discussion of job evaluation, focusing on market-based job evaluation.

• Market-based job evaluation• Considerations in data collection• Survey formats• Survey analysis issues• Slotting• Advantages and disadvantages of market pricing

MODULE 5

Nonquantitative Job Evaluation MethodsIntroduces job content-based job evaluation,focusing on two nonquantitative approaches –ranking and classification.

• Job content evaluation methods• Ranking method• Classification method

Continued on next page

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GR3Job Analysis, Documentation and Evaluation

continued

MODULE 6

Quantitative Job Evaluation MethodsContinues the discussion of job content-based job evaluation, focusing on two quantitativeapproaches – job component and point factor.

• Job content evaluation methods• Compensable factors• Job component method• Point factor method• Quantitative plan summary

MODULE 7

Selection and Implementation IssuesConcludes the course with coverage of selection andimplementation issues, including an introduction tothe process of building a base pay structure.

• Selecting a job evaluation strategy• Implementation issues• Audit of job evaluation plans and practices• Building a base pay structure

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GR4

Base Pay Management

3.03.6

Course Overview

This intermediate-level course provides an in-depthdiscussion of the principles, design, implementationand evaluation of an employee base pay program.Exercises will show how to design a pay programthat is fair, competitive and supportive of anorganisation’s remuneration strategy.

Intended Audience

This course is intended for emerging remunerationpractitioners with limited experience in developingpay structures. Attendees should be able to applyconcepts and techniques covered in courses GR1,GR2 and GR3. Knowledge of basic mathematicalconcepts such as mean, median, weighted average,compa-ratio, percentiles and calculating percents is suggested, as well as an understanding of theconcept of regression analysis.

Course Outline

MODULE 1

The Role of Base Pay in Total RewardsAddresses the objectives of an employee totalrewards program and its relationship to anorganisation’s business strategy.

• Evolution from pay to rewards• The total rewards model• The total rewards design process• Remuneration philosophy and strategy• Introduction to base pay• Job evaluation methods• Job worth hierarchy• Role of the remuneration professional

MODULE 2

Designing Base Pay StructuresAddresses the design of base pay structures.

• Base pay structure• Building a base pay structure• Pay structure design considerations• Pay structure design• Broadbands

MODULE 3

Practical Applications of Base Pay Structure DesignIs a practice module that provides “real world”application of the concepts covered in Module 2.

• Exercise 1 – Market pricing approach• Discussion exercise 2 – Point factor approach• Discussion exercise 3 – Integrating market data

into point factor approach

MODULE 4

Base Pay Implementation and DeliveryCovers other factors affecting individual and grouppay, including differentials and various pay actions.

• Pay approaches• Job-based pay• Person-based pay• Differentials• Pay actions• Communicating pay actions

Continued on next page

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GR4Base Pay Management

continued

MODULE 5

CostingFocuses on the key elements in costing base pay andother remuneration programs and the application ofvarious costing techniques.

• Costing terms• Costing impact• Calculating base pay costs• Costing methods• Understanding remuneration costs

MODULE 6

Merit PayPresents the principles and techniques of merit paysystems including the development, utilisation andcosting of merit-increase guideline charts.

• Principles of merit pay programs• The base pay investment• Merit increase guidelines

MODULE 7

Administering and Evaluating Base Pay ProgramsAddresses the process for evaluating the effectivenessand efficiency of pay programs. It also covers HR’srole in administration and maintenance.

• HR’s role in administering and evaluating a base pay program

• Monitoring pay levels• Compression• Maintaining pay structures• Base pay program review and audit

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GR5

Performance ManagementStrategy, Design and Implementation

3.04.1

Course Overview

This intermediate-level course presents the keyconcepts associated with measuring and rewardingperformance at the organisationwide, group andindividual levels. Issues addressed include:organisational performance planning, businessstrategy, the performance management system andprocess, measurement, individual motivation andthe link between rewards and performance.

Intended Audience

This course is intended for remuneration/HRpractitioners and line managers who are designingand administering performance managementsystems, or who are responsible for developing andimplementing a performance rewards strategy.

Course Outline

MODULE 1

The Performance Management SystemIntroduces the topic by defining performancemanagement and the performance managementsystem.

• Introduction to performance management• Organisational drivers• Performance objectives• Performance management process• Evaluation/assessment• Outcomes• HR practices interlinked with performance

management

MODULE 2

Measuring PerformanceFocuses on performance measures, describing thedifferent types of measures and the measures used at different organisational levels.

• Why do organisations measure performance?• How are performance objectives identified?• How do organisations measure progress?• What do organisations measure?• How is performance measured at different levels?• How are measures selected?

MODULE 3

Individual Performance and the Performance AppraisalExamines individual performance and the perfor-mance appraisal. The module details the differentapproaches to employee evaluation and some of theissues associated with performance appraisals.

• Performance by individuals• The performance appraisal• Evaluation approaches• Sample performance appraisals• Improving performance appraisals

MODULE 4

Implementing Performance ManagementCovers the performance management process thatsupports implementation of the performancemanagement system. It describes the steps inapplying the process at different levels of theorganisation and the importance of alignmentwithin the performance management system.

• Performance management system implementation• The performance management process• Alignment

Continued on next page

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GR5Performance ManagementStrategy, Design and Implementation continued

MODULE 5

Linking Performance to RewardsDiscusses the factors that motivate employee per-formance. It identifies the rewards that organisationsuse to motivate performance, tactics for allocatingmeaningful rewards and examples of performancereward strategies.

• Performance reward strategy• What motivates employee performance?• Linking pay to performance

•• Linking base pay to performance•• Variable pay

• Motivating with other rewards• Rewarding at different organisational levels

MODULE 6

Performance Management System EvaluationCovers performance management system evaluation.It addresses the legal framework of performancemanagement as well as key considerations whenauditing a new or revised performance managementsystem.

• Analysis of current system• Legal framework of performance management • Auditing rating scales• Audit example

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GR6

Variable PayIncentives, Recognition and Bonuses

3.03.2

Course Overview

This intermediate-level course presents the funda-mentals of variable pay. The course focuses oncompensation strategy and variable pay, definitionsand the design and implementation of incentive,recognition and bonus plans.

Intended Audience

Course GR6 is intended for HR practitionersresponsible for designing, assessing or maintainingvariable pay programs.

Course Outline

MODULE 1

Total Rewards and Variable PayPresents variable pay as a component of totalrewards.

• Variable pay in total rewards• Categories of variable pay

MODULE 2

Supporting Business Objectives throughVariable PayDiscusses alignment of business objectives withbusiness strategy and business lifecycle, andsupporting those objectives with variable pay.

• Common business strategies• Business objectives for achieving business

strategies• Business lifecycle• Variable pay supports business objectives

•• Variable pay in tandem with fixed pay

MODULE 3

Types of Variable PayAddresses the objectives, approaches andconsiderations related to the three categories ofvariable pay: incentives, bonuses and recognition.

• Incentive plans – objectives, approaches andconsiderations•• Short-term incentive plans•• Long-term incentive plans

• Bonus plans – objectives and considerations•• Referral bonus•• Hiring (sign-on) bonus•• Retention (stay) bonus•• Project completion bonus

• Recognition plans – objectives and considerations•• Spot awards•• Managerial recognition•• Nominations•• Organizationwide recognition

MODULE 4

Developing a Variable Pay Plan – Phases 1 & 2Addresses the first two phases in developing avariable pay plan: pre-design and design. It high-lights internal and external factors that need to beconsidered in developing a variable pay plan. It thendiscusses the activities for designing the structure ofthe plan.

• Phase 1: Pre-Design•• Considering internal and external factors•• Obtaining management support•• Identifying the design team

• Phase 2: Design•• Determining plan objectives and plan type•• Defining eligibility•• Selecting performance measures

Continued on next page

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GR6Variable PayIncentives, Recognition and Bonuses continued

MODULE 5

Developing a Variable Pay Plan – Phase 3Discusses the final phase in developing a variablepay plan: funding and distribution. It presentsaspects to be considered in establishing targetperformance and payouts. It then provides anoverview of funding and distribution of planearnings.

• Phase 3: Funding and distribution•• Determining performance targets and payouts•• Funding the plan•• Distributing plan earnings

• Final approval

MODULE 6

Implementation and EvaluationCovers key activities for implementing a plan,including the development of a communicationplan. It then discusses how to evaluate the success ofa variable pay plan.

• Plan implementation•• Selecting the implementation team•• Developing the communication plan•• Introducing the plan•• Coordinating plan administration

• Plan evaluation•• Determining plan effectiveness•• Why plans fail•• Potential evaluation outcomes

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GR7

International RemunerationAn Overview of Global Rewards

3.02.3

Course Overview

This basic-level course offers an overview of totalremuneration and its role within global organisa-tions. It includes summaries of national remunera-tion practices in various countries and regions of theworld, a discussion of expatriate pay strategies, an analysis of the differing influence of governmentson remuneration practices and the role of remunera-tion within the overall global management ofhuman resources.

Intended Audience

This course is recommended for human resourcesgeneralists and specialists from all functions seekinga broad understanding of total remuneration policyand practices around the world. It serves as anoverview of global practices in total remuneration. It also serves as an introduction to global strategy.

Course Outline

MODULE 1

Globalisation, Remuneration and Total RewardsBegins the course with an examination of somereasons why companies globalise and the impact ofglobalisation on remuneration and total rewardsprograms.

• Globalisation• The global business environment• Total remuneration

MODULE 2

Influences on Reward SystemsProvides an overview of cultural issues and looks atother regional influences that affect the design anddelivery of global rewards.

• Influences on total rewards• The impact of culture• Other influences• Government controls• Influence of technology• Rewards planning• Common-sense global practices

MODULE 3

Global Remuneration PracticesOutlines some of the primary similarities anddifferences that practitioners will need to examinewhen developing a remuneration strategy.

• Elements of remuneration• Factors to consider in remuneration• Base pay delivery• Variable pay delivery• Executive remuneration• Common-sense global practices• Summary of remuneration challenges

Continued on next page

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GR7International RemunerationAn Overview of Global Rewards continued

MODULE 4

Global Benefits PracticesProvides an overview of benefits in different regionsof the world that may serve as a starting point fordeveloping a global benefits strategy.

• Benefits• Influences on global benefits planning• Global benefits strategy• Government programs• Company programs• Global benefits trends• Examples of country-specific rewards

MODULE 5

The Global Work ExperienceFocuses on the third component of total rewards, the work experience, and its effect on attraction,retention and motivation throughout the world.

• The global work experience• Global employee assistance programs• Attraction and retention

MODULE 6

Managing International AssignmentsExamines several approaches to remuneration andsome of the other issues associated with managinginternational assignments.

• Definitions• Evolution of international assignments• International assignments• Remuneration systems• Retirement issues• Other issues

MODULE 7

Cross-Border Mergers and AcquisitionsProvides an overview of some of the areas to assessand the required elements necessary to successfullycombine cross-border companies in a businesstransaction.

• Definitions of key terms• Cross-border mergers and acquisitions• The role of HR• The importance of culture• Other global M&A issues• Successful cross-border mergers and acquisitions

MODULE 8

Group ExerciseIs a group exercise that focuses on the considerationsin integrating pay and benefits programs following a merger and acquisition.

MODULE 9

The Future of Global RewardsConcludes the course with a look at emergingmarkets, trends in global remuneration and benefitsand a summary of the issues covered throughout this course.

• Becoming a strategic partner• Global trends in total rewards• Global performance management• Emerging markets• Developing a global action plan• The future of globalisation

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GR9

Strategic Communication

in Total Rewards3.05.1

Course Overview

This intermediate-level course provides a generaloverview of communication theory and fundamen-tals. Participants are introduced to a seven-stepprocess for communicating total rewards (compen-sation, benefits and work experience) programs,which includes detailed explanation of strategies for selecting appropriate communication media.Emphasis is given to both the strategic and tacticalelements of designing, implementing and managinga communication campaign.

Intended Audience

Course GR9 is designed for those experienced in theemployee compensation and benefits fields or forthose who would like to broaden their total rewardsperspective. Participants who have mastered theconcepts in WorldatWork Courses T1, C1, C4, B1, B2and B3 would benefit most, as the course is highlyparticipative and discussion-oriented.

This course is strategic in nature and is designed forparticipants who need to focus primarily on thedesign and direction of communication.

Course Outline

MODULE 1

Communication and Total RewardsIntroduces participants to the total rewards modeland discusses the rationale for effective communi-cation from both the employee and employers’perspective.

• The total rewards model• Influences on total rewards• Power of communication

•• Employee perspective•• Employer perspective

• Branding• Top management buy-in• The bottom line

MODULE 2

Communication PrinciplesPresents various theoretical models of communi-cation and walks through the seven steps of thecommunication process.

• Fundamental of communication• Communication models

•• Shannon-Weaver Model•• Osgood and Dance Circular Model•• Schramm’s Model•• Behavior Pyramid

• The communication process

MODULE 3

Media ConsiderationsExplains characteristics and selection criteria for the following four types of communication media:written, verbal, electronic and audio or visual.

• Written and print communication• Verbal communication• Electronic communication• Audio/visual communication• Media selection

MODULE 4

Communicating Total Rewards ProgramsIdentifies current issues in communicating com-pensation, benefits and work experience programsand outlines the requirements for basic compliance.

• Total rewards communication• Compensation communication• Benefits communication• Work experience communication

Continued on next page

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GR9Strategic Communication in Total Rewards

continued

MODULE 5

Putting It Into ActionDiscusses planning and managing the communi-cation campaign and provides general tips foreffective communication.

• Planning the communication campaign• Managing the communication campaign• Keys to effective communication when

outsourcing• Working with an internal communications

department• General tips for success• Special issues

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GR17

Market Pricing

Conducting a Competitive Pay Analysis

Course Overview

This two-day course provides a consistent and effective methodology for market-pricing benchmark jobs within an organization. Participants have an opportunity to develop their data utilization skills through classroom practicum exercises. On the third morning, an optional certification exam covers the content of this course.

Intended Audience

This course is designed for compensation professionals with an interest in/or responsibility for identifying competitive rates of pay, job evaluation and compensation program development.

Course Outline

MODULE 1

Total Rewards and the Compensation Function Reviews common compensation program strategies, base pay structure design, and the establishment and use of a job worth hierarchy.

• The total rewards model• Compensation philosophy and strategy• Base pay structure• Job worth hierarchy

MODULE 2

Business Strategy and Market PricingDefines market pricing and relevant terminology, and discusses how market pricing can support an organization’s business strategy..

• Market pricing and business strategy• Terminology• Market pricing steps• Market pricing• Market pricing – advantages and disadvantages

3.08.1

MODULE 3

Survey Data Reviews data sources, data collection options, salary survey formats and the use of job matching.

• Data sources• Data collection• Survey formats• Job matching

MODULE 4

Collecting Survey Data Discusses the data represented in the salary surveys and how that data will help the practitioner develop the market rate for benchmark jobs. This module also describes documentation and why that process is important.

• Survey selection• Data integrity• Multiple survey sources• Statistical data points• Documentation

MODULE 5

Utilizing Survey Data Covers topics on aging, blending, weighting and slotting. Statistical analysis tools are also covered.

• Utilizing survey data• Aging data• Blending and weighting• Regression• Internal versus external equity

MODULE 6

National Plastics and Rubber Manufacturing – A Case Study

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Course NumberCourse NameCourse subtitle continued

GR17Market PricingConducting a Competetive Pay Analysis continued

MODULE 7

Exceptions and Special Situations Discusses exceptions: special situations that might come up during market pricing.

• Total compensation• Incentives

MODULE 8

Communication Covers the topic of communication and how it relates to market pricing.

• Communication with employees and upper management

• Organizationwide communication• Communication and survey sources


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