Designing Pay Structure with Market Data | 28 August, 2022

Contact: Meritt Learning Center; www.merittconsultants.com
Email: [email protected];  +91-7428466822

SESSION PLAN
Compensation Surveys, Types of Surveys, Survey Data Analysis
Job Equivalence, Job Evaluation and Salary Data
Grade Point and Market Salary, Median Pay, Percentiles, Compensation Ratios, Salary Rates, Salary Equity, Market Parity.  
Evolution of Compensation Structures
Types of Employee Rewards, Standard Reward Practices, Flexible Pay Programs
Developing Different Compensation Structures in a Global Environment  
Communicating of Compensation and Benefits Structures as ‘Employee Value Proposition’

PRACTICAL EXECRCISE
Designing Pay Structure with Market Data

LEARNING OBJECTIVES
You wil learn to design a pay structure -
• Write a job description using the O*NET website.
• Use the point method to conduct a job evaluation.
• Analyze pay survey data for benchmarked jobs.
• Create a market pay line in Excel.
• Create a pay policy line based on a stated pay-level strategy.
• Create pay grades.
• Establish pay ranges.

When done, this would then conclude the pay design exercise in the company.


Contact
Meritt Learning Center
Email: [email protected];
Contact: +91-7428466822
www.merittconsultants.com