Fundamentals of Compensation

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Detailed Overview/Outline

Understanding and effectively integrating the fundamental elements of compensation management and salary administration is critical to sound compensation plans that support and reinforce organizational objectives. The technical skills and practical knowledge explored in this workshop will enable you to respond more knowledgeably and creatively to the needs of your clients.

You will also gain an appreciation of how subtle differences in compensation impact human resources systems, which in turn impact the organization as a whole. In this program, you will explore:

• The practice and theory of compensation management
• An approach for providing day-to-day compensation management consistent with business objectives
• How to tailor a compensation program to support the organization's strategic goals and objectives
• Collection and integration of market data to develop and support a competitive salary program

Key Topics

• The meaning of "total compensation" in the context of the organization's strategic goals
• The evolving impact of compensation on an organization's human resources programs and policies
• Selecting and implementing compensation programs and guidelines
• Constructing salary structures: ranges, wage rates, and incentives
• Linking pay to performance: merit guidelines and performance management
• Market pricing: how to read, understand, and customize survey data to meet your organization's needs
• Scanning the legal environment and complying with federal and state laws and regulations

Who Will Benefit
Human resources professionals and generalists who seek to broaden their understanding of compensation; compensation practitioners, new to the profession, who wish to maximize the strategic impact they can have on their organizations' compensation-related programs

Sponsor Background:

• Over 50 years ago, Cornell University's School of Industrial and Labor Relations was formed to provide training to employers to improve workplaces and workplace life.
• Cornell workshops have a reputation for being current in subject theory and application as well as on legal or regulatory issues.
• Classes are highly interactive…between student and instructor and student to student.
• Discussion groups, case studies, role plays, and other exercises provide practice for your learning.
• Your instructors are skilled communicators and experienced professionals committed to providing the finest in real world, practical education.
• The majority of our clients are repeat users…a testimony to the quality and value received.

Substitution and Cancellation Policy

Substitutions of registrants can be made at any time. Cancellations and transfers are subject to a 25% charge unless received in writing one week prior to the program. Registrants who do not cancel in writing prior to the program date and who do not attend are responsible for the entire fee.

Instructor(s):
Bill Faris, Lisa L. Hunter, Irene Junge

Instructor Background:
Bill Faris, Founding Principal, Singleton, Sutton & Faris, Inc., a human capital solutions consulting group. Mr. Faris has more than 20 years of experience designing and directing the administration of compensation programs. Formerly, he was director of compensation/ HR for McGraw-Hill’s Educational and Professional Publishing Group, and vice president, HR strategic initiatives, at Cigna Health Care, Inc.

Lisa L. Hunter, President, Newport Consulting Group, a human resources consulting firm specializing in compensation and organization effectiveness. Ms. Hunter has more than 20 years of experience in human resources policy development as well as in the design and implementation of compensation programs and performance management systems. Formerly, she held various executive human resources positions with media corporations.

Irene C. Junge, Director, Compensation, Time Warner, Inc. Ms. Junge designs and delivers compensation programs for the corporate headquarters staff at a media and entertainment company. She has over 25 years of experience representing areas of broad-based international and executive compensation, HRIS, relocation, and employee relations. Formerly, she worked at American Brands, Paramount Communications, and CBS.

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