Come prepared to roll up your sleeves and participate in a highly interactive and dynamic learning experience. Compensation Essentials I is focused on base pay. You will apply concepts, practices and techniques that will help you create effective, equitable and organizationally aligned compensation programs.
Topics include compensation philosophy, base v. variable pay, job benchmarking, salary market analyses, survey & data selection, acceptable pay parameters and market-priced salary ranges that will guide you in the positioning of employee pay, assessing legal and ethical compliance issues, applying best & acceptable practices, FLSA classifications and MORE …
Who should attend? Beginner to intermediate Compensation Professionals; Human Resources Professionals who would like to learn more about compensation fundamentals; and Managers responsible for compensation administration and salary determinations.
As a participant, you will receive a participant guide, a full set of the workshop slides, along with additional handouts and tools for you to use on the job.
Julie Caspar is founder and President of HR Hotline Associates. She has over 35 years working as a human resource professional and executive in the U.S. and internationally, while today providing HR and compensation consulting services to organizations around the country. Julie, in addition to managing her company, is a current faculty member at Iowa State University in the Ivy College of Business and former faculty member at Drake University, teaching compensation and benefits among other HR topics to undergraduate and graduate students.
Mollie Frideres Smith began her professional journey with a solid academic foundation from Iowa State University earning a Bachelor of Science degree in psychology and a Master of Business Administration. She is also a graduate of Ankeny Leadership Institute. Mollie is the founder and owner of MFS HR Solutions, which focuses on human capital management. With 25 years of experience in leadership and human resources, Mollie founded MFS HR Solutions to make a meaningful impact and help businesses recruit, retain, and develop top talent. Mollie has taught at Des Moines Area Community College and is currently providing training to businesses through DMACC Business Resources and Employee and Family Resources, as well as her own company.
Beyond her professional accomplishments, she is active in several local organizations including The Ames Chamber of Commerce, Urbandale Chamber of Commerce, Central Iowa Society for Human Resource Management (SHRM), Cyclone SHRM, Heart of Des Moines, and is currently serving on the board of the Iowa Chapter of the National Association of Women Business Owners.
Workshop Learning Objectives
· Define compensation at its fundamental level providing a historical perspective
· Describe the transactional vs. strategic elements of compensation
· Distinguish base pay from variable pay
· Discuss compensation’s role in total rewards and relationship to employee engagement
· Draft a compensation philosophy applying four key elements as defined by WorldatWork
· Conduct a salary market analysis by market pricing jobs using company information, job descriptions and survey data applying acceptable benchmarking approaches
· Develop market aligned salary ranges for benchmarked jobs
· Determine application and effective use of salary ranges
· Identify key practices and guidelines for base pay compensation administration
· Discuss legislative acts, legal considerations and compliance requirements regarding compensation programs and salary decisions
· Make salary determinations in a variety of situations applying rationale that reflect sound compensation and legally compliant practices
· Develop an on-the-job Action Plan
