Times of economic uncertainty – like now – almost always lead employers to re-think their pay policies and practices. Employees become concerned with their ability to maintain and/or increase their standard of living, while employers become more concerned about payroll cost management. Consequently, the always-present gap between employer and employee interests and expectations becomes greater than usual.
Many employers are stuck in traditional salary administration processes that focus on reviews and raise percentages instead of establishing actual wages and salaries that are equitable and market-competitive. The term “review” is at best ambiguous, and its usage often leads to entitlement pay increases that perpetuate internal inequities. Reviews are generally intended as a means of linking pay to performance – but they often miss the mark.
What’s the solution? Most employers benefit from creating and applying a job classification system that, when consistently maintained, provides job values that represent both the external labor market and internal job relationships. A system like this provides guidelines for managers as they make cost-effective (and legally compliant) pay decisions both when they hire new people and when they determine salary adjustments.
Order this in-depth 90-minute webinar on how to establish a systematic approach to pay administration that will serve you well whether the economy is thriving or faltering.
Our experts – two seasoned compensation management consultants – will cover:
- How to define your company’s pay philosophy, including the goals you want your plan to achieve
- How to distinguish between labor market inflation and cost-of-living inflation, and how to apply an inflation factor to pay data
- Points to consider when classifying and evaluating jobs
- What you should tell employees who come across Internet sites claiming to provide pay data
- How to determine salaries and salary adjustments within the job classification framework in a way that ensures both cost-effectiveness and legal compliance
- The best way to communicate pay policies and practices to employees
- How to maintain your pay plan over time – and why this is crucial
- The pros and cons of using bonuses or lump sum payments in lieu of salary increases
Monday, August 18, 2008
10:30 a.m. to 12:00 p.m. (PST)
11:30 a.m. to 1:00 p.m. (MST)
12:30 to 2:00 p.m. (CST)
1:30 to 3:00 p.m. (EST)
About Your Speakers:
Shari Dunn is the managing principal of CompAnalysis, which offers consulting services in all areas related to employee compensation and performance management. Prior to establishing CompAnalysis in 1980, Dunn held management and professional positions with McKinsey & Co., Deloitte & Touche, and several other corporations, including Bank of America and Boise Cascade Corporation.
In addition to her management and consulting activities, Dunn is a well-known speaker and lecturer and regularly leads seminars and workshops on employee compensation and related matters for a variety of audiences. She also serves as an expert witness in connection with wage and hour litigation and other compensation matters.
Dunn maintains active memberships in the Bay Area Compensation Association, WorldatWork (formerly the American Compensation Association), and the Women President’s Organization. She is the former president of the 5,000-plus-member Northern California Human Resources Association, the nation’s largest chapter of the Society for Human Resources Management. She holds a bachelor’s degree in psychology from the University of California at Berkeley.
Lisa Norris, senior consultant with CompAnalysis, has a strong background in financial and human resource management. She has served as a senior human resources executive in a variety of industries, including higher education, publishing, and oil and gas exploration.
Norris began her career in finance and accounting, eventually becoming vice president of finance for the California School of Professional Psychology. As a result of the growth of that organization, she became interested in organizational development and the strategies needed to build organizations from small to mid-size. Subsequently, she combined her senior management background with her interest in human resources, and has since spearheaded many initiatives that have led to superior financial and operating results.
Norris has worked at several companies developing human resources best practices, including supervisor training, process management, compensation plans, and management coaching. At CompAnalysis, she manages both compensation and general HR projects for clients both large and small.
She holds a bachelor’s degree in French literature from the University of California at Santa Cruz, and an MBA in management from Golden Gate University.
Approved for Recertification Credit
This program has been approved for 1.5 recertification credit hours toward PHR and SPHR recertification through the Human Resource Certification Institute (HRCI). For more information about certification or recertification, please visit the HRCI homepage at www.hrci.org.
