IHR Compensation Conference - Compensation Reviews
Compensation Reviews: How To Use The Most Important Tool In The Risk Management Arsenal
(presentation at December 2011 IHR Compensation Virtual Conference)
The last two years have brought major changes in the legal and regulatory environment regarding compensation discrimination, and there are even more changes on the horizon. These changes encompass both individual claims and claims of systemic discrimination, and affect the policies and procedures employers need to have in place to combat discrimination.
The compensation review is a valuable tool in the employer's risk management arsenal, yet few organziations put this tool to use. In light of the new regulatory environment, and the additional changes coming in the next 12 to 24 months, employers can no longer affort to ignore this important tool.
In this presentation, we discuss the new face of compensation regulation and the challenges employers are now facing with respect to internal pay equity and discrimination claims. Each stage of the compensation review process is presented, from the planning stage through the application of analysis inferences to business processes. Common pitfalls and data issues are discussed, and the importance of grouping employees properly for comparison purposes is emphasized. Concrete examples drawn from real-life situations are used to illustrate each step in the review process and to highlight the effects of common pitfalls.
The presentation concludes with an action plan employers can use to outline their compensation review. The action plan includes a discussion of the kinds of data required for a review, the assessment of internal processes for data collection, records creation and retention, and guidelines for a proactive compensation review program.
*The use of this seal is not an endorsement by HR Certification Institute of the quality of the program. It means that this program has met HR Certification Institute's criteria to be pre-approved for recertification credit.
Presenter: Stephanie R. Thomas, Ph.D.
Length: 00:59:55
View the archive of the presentation here
 White Paper - Compensation Reviews |
| Presentation Slides |
