Crucial Compensation Conversations - Understanding and Communicating the Compensation System
Learn to define a compensation philosophy, assess your pay plan against the market, link pay to performance and communicate the compensation system clearly to employees.
Speaker
Bob Verchota
HR and management consultant · RPVerchota & Associates · SPHR
Overview
Pay is the one thing no HR or payroll team wants to get wrong. This 60-minute webinar on crucial compensation conversations is not about payroll processing. It looks at how your employee compensation plan rests on a philosophy designed to recruit, retain and engage your workforce.
Different job groups or classifications can, and often should, be paid differently. You'll explore how to define your compensation philosophy, link pay to performance management, define competitive market pay and total compensation, and weigh variable pay options, COLA versus pay for performance, and merit matrix models.
The session also covers how to keep your pay package current, audit your plan, and communicate the compensation system to employees.
Why attend: Complaints about pay can come from staff, managers, leaders or HR itself. This session helps you find where issues come from and why, align your plan with the market, technology and environment, and build an action plan for your most critical compensation questions. It suits HR staff, compensation specialists, business owners, board members, supervisors and managers, and anyone responsible for compensation.
What’s covered
- Defining the philosophy of your compensation system
- The link to performance management
- Environment scans and adjustments
- Defining competitive market pay
- Total compensation defined
- Variable pay options
- Assessing and auditing your current compensation plan
- Challenges of alignment
- Roles of managers, employees and HR in the compensation system
- COLA vs. pay for performance (P4P)
- Forms, tools and communications for explaining pay to employees
- Merit matrix models
Who should attend
What you get
About the speaker
Bob Verchota, SPHR, is the President and owner of RPVerchota & Associates, a human resources and management practices consulting firm. He has over 30 years of human resources and operational leadership experience. His most recent corporate assignments include serving as VP Support Services, VP of Ancillary Services and Human Resources, and VP Human Resources. Focus areas include organization change and employee development, talent acquisition, risk management, compensation and benefits, labor and employee relations, performance improvement, and other operational issues.
Academic pursuits include an undergraduate degree in Business Administration, graduate degree in Healthcare Administration (MHA), and doctoral work in Organization Development EdD (abd). He has taught at the technical, baccalaureate, and masters levels in several colleges and universities.
More in HR Compliance
See all 348 HR webinars →
Paul Pelletier · 60 min
ChatGPT for HR - Build HR Policy Framework and Strategy
Manish Gupta · 90 min
Language is Code - Intro to AI - Generative AI - ChatGPT and Copilot 365
Allen Evitts · 60 min
Retaining Top Talent
Dr. B. Lynn Ware · 60 min