C17 - Market Pricing - Conducting a Competitive Pay Analysis

Market Pricing — Conducting a Competitive Pay Analysis

Avoiding Analysis Paralysis

This course will provide a consistent and effective methodology for market-pricing benchmark jobs within an organization. Participants will have an opportunity to develop their data utilization skills through classroom practicum exercises.

• Review common compensation strategies, base pay structure design, and the establishment and use of a job-worth hierarchy
• Discuss how market pricing can support an organization’s business strategy
• Discover data sources, data collection options, salary survey formats and use of job matching
• Learn how the data from salary surveys can help you develop the market rate for benchmark jobs
• Discuss the use of statistical analysis tools and aging, blending, weighting and slotting data
• Learn how to handle short- and long-term incentive survey data
• Find out how to communicate market pricing to upper management and your organization

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