Applied Compensation System Engineering - School of Continuing Education, University Of Wisconsin

	Applied Compensation System Engineering

	Build a comprehensive spreadsheet model of internal equity, external competitiveness and budgeting process necessary to implement and manage pay policies of a company, while integrating performance information to increase employee engagement. The course alternates between the theory of the Total Rewards applications and the actual construction of the Excel based Salary Administration Tool. Participants will be allowed to take the spreadsheet back to their organizations and add value immediately! This program has been approved for 13 (General) recertification credit hours toward PHR, SPHR, and GPHR.
	Who Should Attend? Human Resources and Reward Professionals involved in the design and delivery of compensation rewards.
	Objectives: Examine the principles of a total rewards philosophy and how they apply in different organizations Understand the market data available and how best to use it to reinforce salary policies to be externally competitive Examine the different ways to value work to be internally equitable Develop pay ranges for your organization Manage the relationship between pay and performance Understand how the salary review and budgeting process operates in different organizations Communicate the basic principles of your total rewards policy
	Take Aways: You will walk away with a model that allows you to manage the compensation system of the organization astutely in order to contribute to the organization's success You will be able to talk with your Finance team during budgeting time to accurately forecast compensation program increases taking the market and internal equity into account within a target "budget" You will improve your skills in data analysis and interpretation You will gain useful ideas on how to improve the compensation system within your own organization You will use excel to build the tool with a group of people who are all sharing the tips and tricks of the trade
More ▼ Course Outline I. Introduction to Implementing Your Pay Policy (Day One, 8:30 to 10:00) a. Learn and analyze current pay practice within your organization - including functional, geographical and gender variations. b. Understand the current practice in reward strategy design. c. Understand how reward strategy can contribute to the organization's success. d. Link between rewards policy and motivation. e. Discuss the balance between internal equity and external competiveness. f. Review the relationship between pay and performance. g. Communicating your pay policy. II. Developing a Policy for Motivation and Rewards Strategy (Day One, 10:00 to 1:45 - two 10 minute breaks) a. Aligning reward with business and HR strategy. b. Reward and employer brand. c. Direct and Indirect Compensation d. Linking reward and performance. e. Role of employee benefits. III. Job Evaluation (Day One 1:45 to 4:00 - 10 minute break) a. Understand principles of evaluating jobs. b. Job Evaluation Methods c. Consistently evaluate jobs. d. Pay Surveys e. Data Analysis f. Pay Structures g. Maintenance of evaluations. IV. Market Pay Analysis (Day Two, 8:30 to 11:00 - 10 minute break) a. Reviewing the sources of market data b. Analysis of market data trends V. Creating Salary Structures (Day Two, 11:00 to 1:45, 45 minutes break for lunch) a. Linking market data to job evaluation data through regression analysis b. Conducting investment analysis to determine the cost of changing compensation policies VI. Linking Reward to Performance Management (Day Two: 1:45 - 3:45 - 10 minute break) a. Review current practice in performance management. b. Learn about models of performance-base pay progression. c. Develop the principles of performance-related reward. d. Learn to model the relationship between performance and base pay VII. Communicating Total Compensation to Employees (Day Two, 3:45 to 4:00) a. Evaluating Effectiveness b. Required Communication c. Going Beyond What is Required Close ▲ Benefits and Learning Outcomes ▼ Examine the principles of a total rewards philosophy and how they apply in different organizations Understand the market data available and how best to use it to reinforce salary policies to be externally competitive Develop pay ranges for your organization Close ▲
SHARE THIS PROGRAM Connect with the School of Continuing Education

	Dates and locations to be announced. Fee: $1500 CEUs: 1.4
	Email us with your interest, contact:
		Jan Allen, Director, Business & Management, allen3@uwm.edu, 414-227-3219, 888-947-9947

Center for the Study of the Workplace
Learn about the real-world impact of workplace changes. Hear what leaders in both business and academia have to say and help propel yourself or your company into the future.
Learn more>>