Creating Effective Pay Structures: Attract & Retain Key Employees
On-Demand Recording
Having a competitive compensation structure is the cornerstone of employee recruitment and retention.
If you have an outdated or non-competitive system in place, you are leaving yourself vulnerable to losing your top talent to other companies with more enticing plans. It's typically the best employees who become frustrated if salary concerns are not addressed and acted upon.
In this workshop, expert speakerBob Verchotawill provide you with the tools and information you need to develop or update your current pay plan.
This training will address the pay rates for the current market, plus tools to assess your industry rates, allowing you to create a compensation plan that stands out, while letting you make proactive decisions for your current employees.
This event will answer burning questions, such as:
- Does ourcurrent compensation plan stack up for our industry?
- How do I properly handle difficult(or uncomfortable)questions about salary rates or plans?
- What if our employees don't see our structure asfairorgood enough?
- How can I ensurepay equityin my organization?
- Will a new or updated approachimprove retention?
- Is pay the best motivator formyemployees, specifically?
Program Highlights
Leveraging the link: Using good compensation practices to keep good people
- Using a sustainable pay plan to make employees feel valued and financially secure
- Understanding different varieties of pay structure, such as COLA vs. P4P (Cost of Living Allowances v Pay for Performance)
- Assessing and auditing your current system: Know what's working(and what's not)
Following the trends: Ensuring your organization is competitive with the market AND within the industry
- Keeping up to date on market competitive pay and how it relates to your plan
- Leveraging market scans and developing trends to adjust accordingly
- Knowing which pay structure works best for your company and industry
Taking sustainable action: Updating and explaining your approach without ruining the budget
- Facing the challenges of alignment and restructuring
- Defining the philosophy of your compensation structure to employees or potential talent
- Creating a compensation plan that is appropriate for your organization and talent needs
Question and Answer Session - Hear expert answers to real-world questions!
ABOUT THE SPEAKER
Register Now
FOR ONLY $99
Receive all the valuable tools, guidance, and materials as if you attended live!
Get access to all of our workshops plus much more with a subscription to HRMorning Insider.
GetGuaranteed to be Good
All training experiences include a 7-day 100% money-back guarantee.
HRCI CREDITS

This program has been approved for 1 (HR (General)) recertification credit hour toward aPHRTM, aPHRiTM, PHR®, PHRca®, SPHR®, GPHR®, PHRiTM and SPHRiTM recertification through the HR Certification Institute. Learn more at hrci.org
SHRM CREDITS

HRMorning is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP® or SHRM-SCP®. This program is valid for 1 PDCs for the SHRM-CP® or SHRM-SCP®. For more information about certification or recertification, please visit www.shrmcertification.org.