Building a Compensation Plan Part 2: Develop a Market-Based Pay Structure

Tuesday, July 24, 2012, 10:00 am PDT, 1:00 pm EDT

HR leaders aiming to develop and maintain pay ranges within their organizations face a Goldilocks problem. If too narrow, the pay ranges won’t allow an organization to reward long-tenured staff or high performers. Too broad, and the pay ranges won’t provide practical support for your compensation philosophy. But, worst of all, having no ranges at all can lead to a failure to attract top talent, or dramatically overpaying employees.

So, how can you get pay ranges just right?

Join us as Stacey Carroll, CCP, SPHR, reveals how to develop ranges from a market-centered midpoint.

You’ll learn:

How to use market data to update or create competitive pay ranges.
How to select a competitive market set for benchmarking against.
How to choose benchmark positions and slot non-benchmark positions into your structure.

This practical webinar will give you the information necessary to update or create market ranges in your organization.

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All PayScale webinars are offered free of charge.

This webinar is pending approval for 1.0 credit toward HRCI re-certification and 1.5 credits toward CHRP re-certification.