Course#: 78

Category: Salary Administration

Field of Study: Business Management & Organization

Audience: HR Managers, HR Generalists

Level of Difficulty: Intermediate

Delivery Method: Self-Study

Prerequisites: Some college-level courses with moderate algebraic training

Advanced Preparation: None

Overview:
This course reviews 3 different types of approaches to salary increase planning: those based on salary surveys of competitive market rates, cost-of-living adjustments (COLA’s), and merit increases (such as pay for performance). We’ll show you how to use each method and what resources are available to the Human Resource manager responsible for planning salary increases. In addition, we’ll demonstrate budgeting techniques and control methods to make sure salary compensation costs are kept in check throughout the year.

Learning Objectives:

• Retrieve competitive pay data from online and software salary survey reports in order to determine salary increases 
  
• Describe the difference between a COLA vs. merit increase, focusing on geographic salary differentials, cost-of-living levels, and pay for performance
  
• Budget for average salary increases using top-down and bottom-up approaches
  
• Calculate compa-ratios for employees based upon your organization’s wage structure or rates reported by salary surveys 
  
• Take steps to make sure your organization maintains control over salary increase expenditures

Credit and Professional Continuing Education Information:

• PHR/GPHR/SPHR (SHRM)
• CPE Registry Self-Study (CPAs)
• Job and Compensation Analyst (JCA)
• Compensation Analyst Credential (CAC)
• CCP/CBP/GRP (WorldatWork)
• Authors

*The Course Credit Map displays credit types offered by location and corresponding lists of eligible courses.