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Expanding the Compensation Model: External and Structural Considerations

Course ID: ILRHR508
Use market analysis to implement changes to a compensation plan. Assess external factors and create a dynamic model to administer compensation.

Description

This course covers the application for assessing and implementing a compensation model by considering external factors. The process of analyzing market data is explored. Developing recommendations and implementing changes to an organization's compensation administration policies is also covered.

The course identifies advantages and disadvantages of merit and variable pay plans.

Who Should Take This Course?

Compensation practitioners, as well as HR professionals seeking to broaden their skill sets to incorporate compensation. Those new to compensation looking to maximize the day-to-day impact they can have on their organizations' compensation-related programs.

Course Format

eCornell takes a problem-based approach to learning, and builds each course around realistic case studies and scenarios. All courses are self-paced, and are facilitated by an eCornell instructor, who leads the online discussions and is available to answer specific questions about the course content. This course contains the following modules:

Conducting an External Assessment

Identifying appropriate comparator groups at the industry and job levels for establishing competitive pay practices
Market data adjustment methods, including aging and weighting
Comparing external market data with corresponding internal information for compensation analysis

Recommending Actions

Principles underlying merit and variable performance-based pay plans
Assessing compensation administration policies at the structural, job, and employee level
Aligning compensation to an organization's guiding principles and Human Resources structure
Strategies for implementing compensation policies
Applying an updated compensation program to decisions at the job and employee level

Benefits to the Learner

After completing this course, participants will be able to:

Identify a model for conducting an effective compensation analysis in organizations
Conduct a market comparison as part of the compensation analysis
Recommend actions based on the results of the compensation analysis

Authoring Faculty

Cathy Lee Gibson, Cornell/ILR Extension Faculty, Associate Director Management Programs
Lisa L. Hunter, Adjunct Faculty
Deborah Peters, Teaching Associate

Sponsoring School

Cornell University's School of Industrial and Labor Relations

Total Learning Time

Approximately 5-6 hours over a period of two weeks.

Enrollment

Price: $599.00

Add to Cart

To register, click 'Add to Cart' at right, or contact an Enrollment Counselor at info@ecornell.com or 1-866-eCornell (+1-607-330-3200 from outside the United States).

Certificate programs are eligible for eCornell Payment Plans. Discounts are available for military personnel, veterans, and Cornell University Alumni. eCornell programs are not eligible for financial aid or federal Pell Grants. Contact an enrollment counselor for more information.

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ACE CREDIT Recommendation

This course contributes to an eCornell Certificate Program that has been recommended for college credit by the American Council on Education's College Credit Recommendation Service (CREDIT). Please refer to the Certificate information page for additional details.

HRCI Recertification

This course been approved for six (6) recertification credit hours toward PHR, SPHR, and GPHR recertification through the Human Resource Certification Institute. Please contact the Human Resource Certificate Institute (HRCI) for further information about certification or recertification.

Technical Requirements

With all eCornell courses, access is easy. Participants only need a computer and an Internet connection. To view specific technology requirements, visit our Technology Requirements page.