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 Enroll in 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.Enrollment
To register, contact an Enrollment Counselor at info@ecornell.com or 1-866-326-7635 (+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.
CEUs
HRCI Recertification
Additional Information
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 AssociateSponsoring School
Cornell University's School of Industrial and Labor RelationsTotal Learning Time
Approximately 5-6 hours over a period of two weeks.You May Be Interested In...
Students who purchased this course also purchased:
- Student Testimonials,
"I am not currently in a compensation HR role but the skills will be very useful for the job I'm looking to get."
Expanding the Compensation Model: External and Structural Considerations - Student Testimonials,
"I found that the course content was very useful for my future career advancement as an HR professional. I have been able to use new tactics that I thought were only utilized by experts."
Expanding the Compensation Model: External and Structural Considerations
