How to Set Pay Ranges That Are Fair and Effective

Wednesday, December 11, 2019 at 1pm ET           Duration: 60 minutes

Setting pay plans is a critically important and stressful task for HR Executives, CFOs and other organizational leaders. To make the process manageable, you may have considered structured pay ranges. It’s a sensible idea, but it carries major risks of its own. A pay range system that’s improperly structured or mismanaged can lead to damaged credibility, retention problems, and lawsuits. Fortunately, there's a way to do it right. This must-attend program will explain the nuts and bolts of pay range structure and how to make it work in your organization. (more details below)

* Approved for 1.0 recertification credit hour through HRCI & SHRM.


WHY ATTEND

If your organization decides to move toward implementing structured pay ranges, you’ll likely have many questions that need answers before you act. How do you know you’ve got pay ranges right? What guidelines should you follow to determine how broad or narrow ranges should be? What are the best practices for determining market-specific compensation levels based on job functions, location and industry?

LEARNING OBJECTIVES

Get these answers and more, including:

  • 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

                                                                            Joe Rice is a Project Manager in the Compensation Consulting Division of CBIZ Human Capital Services where he leads a team of compensation consultants and provides project management oversight.

                                                                            Mr. Rice brings broad Total Rewards and Human Resources experience to the practice. Prior to joining the Firm, Mr. Rice managed compensation globally for Energizer Holdings, a global consumer products company. Mr. Rice also worked for Bunge, a global agribusiness company, where he led the compensation function within North America. He began his career with Panera Bread, a fast-casual restaurant chain, where he held roles administering compensation, retirement, and benefits. In all, Mr. Rice’s background includes strategy, design, and execution for an array of Total Rewards programs along with experience supporting acquisitions, divestitures, and corporate restructuring.

                                                                            Certification

                                                                            This program has been approved for 1.0 recertification credit hour(s) through the HR Certification Institute (HRCI) & Society for Human Resource Management (SHRM).

                                                                            What You Get With Each Option

                                                                            Live Recording

                                                                            Live Only

                                                                            Participation in the live upcoming webinar

                                                                            Recording

                                                                            Recording Only

                                                                            Full MP4 recording of webinar, including Q&A (digital download).

                                                                            Live and Recording

                                                                            Live + Recording

                                                                            Participation in the live webinar + Full MP4 Recording (digital download).

                                                                            Event Package

                                                                            Event Value Pack

                                                                            Participation in the live webinar + Full MP4 Recording + Audio-only MP3 recording. (digital download)

                                                                            What You Get With Each Option close

                                                                            Live Recording

                                                                            Live Only

                                                                            Participation in the live upcoming webinar

                                                                            Recording

                                                                            Recording Only

                                                                            Full MP4 recording of webinar, including Q&A (digital download).

                                                                            Live and Recording

                                                                            Live + Recording

                                                                            Participation in the live webinar + Full MP4 Recording (digital download).

                                                                            Event Package

                                                                            Event Value Pack

                                                                            Participation in the live webinar + Full MP4 Recording + Audio-only MP3 recording. (digital download)

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