Using Statistics in Compensation

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Time:1pm
Speaker:

EANJ has partnered with TrainHR, a leading HR training solutions provider, to bring you timely and valuable webinars on various HR topics. 

EANJ MEMBERS SHOULD CONTACT EANJ FOR A DISCOUNT PROMO CODE FOR THIS SESSION.

TrainHR

This webinar will address the statistics behind pay program design and administration, from the design of pay structures through the analysis of pay survey data.

Areas Covered in the Session:

  • How to create and analyze pay range widths ("spreads")
  • Why "weighted averages" are more widely used than "medians"
  • Defining "means", "medians" and "modes" (and how to use them)
  • How to understand the statistics of pay structure design
  • Understanding the difference between regression and correlation analysis, and how to apply them effectively in pay program analysis
  • How "percentiles" differ from "percents", and how to calculate them
  • How to calculate rate range minimums and maximums from estimated midpoints
  • Calculating the "penetration" of pay rates in pay ranges
  • The Compa-ratio: what it is, how to calculate it and how to used it
  • Why pay ranges are divided into "quartiles"
  • The difference between "linear regression" and "multiple regression"
  • How to estimate the number of grade levels between two new pay structure midpoints
  • What are "measures of central tendency" and why are they important for analysis?

EANJ MEMBERS SHOULD CONTACT EANJ FOR A DISCOUNT PROMO CODE FOR THIS SESSION.

Learn More and Register