Developing a Compensation Philosophy – Objective Decisions about Pay

A consistent struggle when performing proactive pay equity or preparing an analysis in response to a regulatory agency inquiry, is the development of comparable employee groupings and identifying an appropriate compensation philosophy.

Having a clear understanding of what job titles are comparable and the compensation philosophy for each of these job groupings are the cornerstone of a successful pay equity review and defense against audits and complaints. These two areas of focus can be developed at any time and a well-thought out philosophy supports HR program personnel (performance management, talent management, recruiting/hiring, etc.) through consistency of application and compensation department analyses of employee fairness.

Dr. Carnahan will discuss both simple and complex strategies towards creating defensible compensation structures and philosophies. Please ask all the questions you can think of as he talks; as a former Professor he encourages interactive sessions with curious attendees – “They just go better and are more fun for everyone!”.

You will learn:

• Why it’s important to understand what’s truly comparable instead of using “proxy” groups that “make sense”

• Different methodologies to creating defensible SSEGs/PAGs

• What is a compensation philosophy and is it okay to have different philosophies for each group?

• Why it’s important to review all portions of your philosophy for level of objectivity in data

• Why all of this is important to an audit/inquiry/or proactive pay equity project

• And more!

Don't miss out on this informative session!