You’ve gathered and examined data on revenue or expense per employee; compensation as a percent of revenue, operating budget or total expense; overtime rates; variable compensation as a percent of profit or revenue; average full-time equivalent compensation; and more. You’ve also begun the process of analyzing what the data tells. However, there are additional steps that can help you gain even greater insight into the effectiveness of your compensation design.
Join us for a deep-dive into proven, advanced techniques that go beyond compensation measurement fundamentals.
You’ll learn:
- Best practices for applying linear and multiple regression;
- How to calculate and use percentiles to design and analyze your pay positioning relative to internal equity and external competitiveness;
- The role of standard deviation in aiding in design and analysis of compensation programs, as well as discrimination testing (Put out those potential litigation fires)!
- What to do with data related to job evaluation and market surveys – where these and other quantitative HR applications fit into your compensation measurements;
- And more!