Compensation Plan Design
Be happy your employees are not free agents.
In the world of professional sports, free agents set their own prices. Luckily, small businesses don’t operate the same way. So you need to understand what the price of a fair wage is in your industry, and in your neighborhood.
Learn how to create a strategic compensation plan for your company in “Compensation Plan Design”. A half-day course, “Compensation Plan Design” is intended as a follow-up to the introductory level course, “Basics of Compensation”.
This hands-on session will help you define a compensation philosophy for your company and develop goals for your compensation packages. You’ll get a detailed look at the different kinds of base pay programs and job evaluation methods, and you’ll learn how to use salary surveys to market price jobs and design salary structures. This session will also introduce concepts regarding incentive compensation, including the various types of plans, what to consider when designing a plan, and best practices for using incentives to drive performance.