Description
Learn how to identify and avoid common pitfalls in a pay equity process.
Compensation experts work hard to ensure pay equity, but most, if not all, compensation studies are only 50 complete. How can this be? Broadly, there are two major forms of compensation analysis (1) external (benchmarking) and (2) internal (statistical pay equity). The vast majority of compensation experts do not understand the important relationship shared between these two forms of compensation analysis. Moreover, they do not know that employers must have both external and internal pay equity.
This presentation will explain the two forms of compensation analysis and provide focused training on internal (statistical) pay equity methods. Specifically, this presentation will explain basic statistical methods applied in internal pay equity studies, along with a live demonstration. Importantly, this presentation will explain how external and internal compensation studies rely on each other to provide employers with true 100 comprehensive pay equity outcomes. This topic is critical for employers to ensure their compensation system is truly balanced and equitable.
Date: 2023-05-12 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to describe compliance requirements for an internal pay equity study.
* You will be able to discuss how external and internal compensation analyses complement and rely on one another.
* You will be able to explain and conduct a statistical pay equity analysis.
* You will be able to review statistical pay equity analysis results.