Introduction to Compensation Administration 101

A formal Compensation program consists of six parts: Job Analysis, Job Descriptions, Job Evaluation, Pay Surveying Pay Range Construction, and In-Grade Pay Strategy. An optional seventh element is Incentive Pay Plans.

Within each of these areas, there is a role for the Compensation Analyst.

Why should you Attend

To understand the basic elements and activities of a COMPENSATION Department.

Areas Covered in the Session

This will answer the question "what does a Compensation practitioner do?
The Program will describe the elements above and their framework in the Department
Job Analysis: The Study of work. How does an Analyst collect the necessary information?
Job Descriptions: What is the Analyst's role in this process? How is it done? Why is it important?
Job Evaluation: How does an Analyst evaluate the relative worth of jobs?
PaySurveys: What is the Analyst's role in obtaining pay data? How is it acquired?
Pay Structures: What is a "pay structure"? How is it built? When does it change?
In-Grade Pay Strategy: What are the options? What is "best"? How is the strategy administered?
The Seventh Step: Incentive Plans: Do you need them? Which Plans? The Administrator's role

Who Will Benefit

Human Resource Managers
Compensation Analysts
Compensation Managers

Speaker Profile

David J. Wudyka, MBA, is the Managing Principal of Westminster Associates of Wrentham, MA (www.westminsterassociates.net). He has over thirty years experience as a Human Resource Consultant with a specialty in Compensation Consulting. David has taught extensively in colleges and universities such as UMass Boston, Bryant University, and the U.S. Coast Guard Academy. David is especially interested in how the HR Dept. can strengthen its role as a Strategic Partner in businesses today. He is writing extensively about how to improve pay transparency and to reduce the gender pay gap in ways that make sense for businesses of all sizes.