Understanding Pay Structures and Compensation Systems

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CEU Approved

  • 90 minutes

Having a competitive and well-designed compensation system is the corner stone of employee recruitment and retention for most organizations. But did you know, that 30 percent of U.S companies have no formal pay structure in place? And that number increases for small businesses- 50 percent of companies with 100 employees or less are lacking a proper compensation system.

When you have an ill-designed or inadequate pay system in place, you are more vulnerable to losing your top talent to employers who do. It's usually your most talented employees who become frustrated if salary discussions are not addressed and handled professionally.

In this webinar expert speaker Wesley Pruett will provides you the tools to develop or update your current base pay plan. He will explain the fundamentals of market pricing, compa-ratio, grades, and ranges to give your organization the means to confidently build a competitive and effective pay structure.

Session Highlights:

  • How to put together a well-designed base pay system.

  • How midpoints, market pricing, and salary grades fit together.

  • Do you lead or lag the market? What’s your compensation philosophy?

  • The basics of job analysis and salary grade placement.

  • What is a Compa-ratio and why does it matter?

  • Methods for moving through the range.

  • How to build a salary grade system.

  • Accelerated progression to the midpoint.

  • Receive model salary grades and ranges.

Why You Should Attend:

This webinar will focus on building a market-based compensation system that will allow your company to be competitive within their industry. It will also assist you in building a workable systematic compensation program that is fair, understandable, consistent, and defensible. Get the tools needed to start developing a base pay plan or tune up your current plan with the help of this webinar. You will get a broad overview of the application and philosophy of compensation systems.

Who Should Attend:

  • Business owners

  • Managers And Supervisors

  • HR Generalists

  • Administrative Assistants

  • HR Payroll Staff

  • Small Business Administrative Assistants

Ask your question directly from our expert during the Q&A session following the live event.

Wes Pruett

Wes Pruett

Wes Pruett is owner of HR Advisors LLC, a consulting practice that provides service to clients who seek to align their business and employees creating successful outcomes and excellent work environments. After 20 years in senior leadership within the Mayo Health System, he founded HR Advisors LLC.

Mr. Pruett provides solutions to companies for a wide variety of HR issues including compensation, compliance, policy development, performance management, and employee relations. Mr. Pruett regularly facilitates employee training related to communication, leadership, DiSC®, Five Behaviors of a Cohesive Team®, coaching and strategic planning. He is a certified business coach credentialed by the International Coach Federation.

Wes earned a Masters in Healthcare Administration at the University of Minnesota, Carlson School of Management and an M.S. in Psychology.

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Edupliance is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.5 PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.

This webinar has been approved for 1.5 HR (General) recertification credit hours toward California, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute. The use of this seal is not an endorsement by the HR Certification Institute of the quality of the activity. It means that this activity has met the HR Certification Institute’s criteria to be pre-approved for recertification credit.

Want to attend in a Group? Call 844-810-1151 and Save upto 50%

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