2 DAY IN PERSON SEMINAR 2014 - Using Statistics in Compensation

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Category Statistics in Compensation;minimums;midpoints;maximums; calculating wages

Deadline: August 27, 2014 | Date: August 28, 2014-August 29, 2014

Venue/Country: Hilton Grand Vacations Suites at the Flamingo, U.S.A

Updated: 2014-06-26 21:24:53 (GMT+9)

Call For Papers - CFP

Compensation professionals use "descriptive statistics" to convey the characteristics of data used in the development and management of pay programs. In this webinar, David J. Wudyka will describe a series of statistical concepts used by Compensation practitioners. The concepts to be covered include ideas such as pay structure development; "control points" in pay ranges, including minimums, midpoints and maximums; weighted and unweighted averages; means, medians and modes; weighted and unweighted averages; regression and correlation analysis; standard deviations, variance and data ranges; compa-ratios, and independent and dependent variables; and more.

All of these concepts will be explained in the context of their application in pay programs, including building a pay structure (i.e. sets of pay ranges), analyzing pay survey data, predicting

Executive base pay rates and total compensation from one or more independent variables, making associations in pay data between independent and dependent variables, and using comp ratios in merit pay programs and their budgeting.

Who will benefit:

Human Resource Managers

Compensation Analysts

Compensation Managers

Financial Managers of HR Departments

Payroll Managers

Agenda:

Day One

Lecture 1: Apply a wide range of statistical concepts to their Compensation programs

Lecture 2: Build a pay structure (i.e. a set of pay ranges) that is statistically sound

Lecture 3: Make an informed decision about whether to use weighted averages or medians in the development of pay structures

Lecture 4: Apply control points (i.e. minimums, midpoints, maximums) effectively in pay range development

Lecture 5: Learn how to predict Executive base pay rates from one independent variable using Regression Analysis

Lecture 6: Learn about the importance of measures of central tendency, and how they are applied in pay program analysis

Lecture 7: Apply one statistical measure that can be used to analyze pay survey data quality: the use of variance measures

Lecture 8: Assess why on-line pay data may not be appropriate for use in pay data analysis

Day Two

Lecture 9: Learn how to assess the strength of a relationship between two variables using Regression and Correlation Analysis:

Lecture 10: Learn the difference between "simple" and "multiple" Regression Analysis

Lecture 11: When to add more independent variables to Regression Analysis studies... and when to stop

Lecture 12: Learn what the role of iterative regression analysis is and how to use it

Lecture 13: Understand the difference between continuous and discrete Regression Analysis and their uses

Lecture 14: Learn why there is no "cause and effect" relationship between variables in Regression Analysis

Lecture 15: Discover a better way to build pay structures without Regression Analysis

Lecture 16: Establish a personal, reasonable level of the strength when assessing correlation values

Lecture 17: Use a statistical technique for determining the distance between new grade level midpoints in pay structure development

Speaker Profile:

David Wudyka

Founder, Westminster Associates

David Wudyka SPHR, is an independent Human Resource Consultant with over 30 years experience in the profession. He is the Managing Principal of Westminster Associates in Wrentham, MA, a Human Resource Consulting firm offering a wide array of Human Resource consulting services, including the design of Compensation programs. He is one of the first people in the United States certified in the Compensation field by the World At Work. David is also an Adjunct Faculty member at several universities in New England, including the University of Massachusetts at Boston and the Massachusetts College of Pharmacy and Health Sciences in Boston.

Call our representative on +1-800-385-1627 to have your seats confirmed.

Contact Information:

Event Coordinator

Russel Stuart

Toll free: +1-800-385-1627

Fax: 302 288 6884

Email: supporttrainhr.com

Website: https://www.trainhr.com/

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