Close
Learning Methods
Classroom
A traditional classroom couples on-site learning with the added value of face-to-face interaction with instructors and peers. With courses and exams scheduled worldwide, you will be sure to find a class near you.
Interaction
Highly Interactive
On-going interaction with instructor throughout the entire classroom event
Interaction with peers/professionals via face-to-face
Components (May Include)
Onsite
On-site instructor-led delivery of course modules, discussions, exercises, case studies, and application opportunities
Supplemental learning elements such as: audio/video files, tools and templates, articles and/or white papers
E-course materials available two weeks prior to the course start date; printed course materials ship directly to the event location
Duration
One + Days
Varies by course ranging from one to multiple days
Technical Needs
Specific requirements are clearly noted on the course page
Virtual Classroom
Ideal for those who appreciate live education instruction, but looking to save on travel. A virtual classroom affords you many of the same learning benefits as traditional–all from the convenience of your office.
Interaction
Highly Interactive
On-going interaction with instructor throughout the entire virtual classroom event
Interaction with peers/professionals via online environment
Components (May Include)
Live online instructor-led delivery of course modules, discussions, exercises, case studies, and application opportunities
Supplemental learning elements such as: audio/video files, tools and templates, articles and/or white papers
E-course materials available up to one week prior to the course start date. Recorded playback and supplemental materials available up to seven days after the live event.
Duration
Varies by course ranging from one to multiple sessions
Technical Needs
Adobe Flash Player
Acrobat Reader
Computer with sound capability and high-speed internet access
Phone line access
E-Learning
A self-paced, online learning experience that allows you to study any time of day. Course material is pre-recorded by an instructor and you have the flexibility to view content modules as desired.
Interaction
Independent Learning
Components (May Include)
Pre-Recorded
Pre-recorded course modules
Supplemental learning elements such as: audio/video files, online quizzes
E-course materials start on the day of purchase
Optional purchased print material ships within 7 business days
Duration
120 Days - Anytime
120-day access starts on the day of purchase
Direct access to all components
Technical Needs
Adobe Flash Player
Acrobat Reader
Computer with sound capability and high-speed internet access
Close
Contact Sponsor
E-Reward
Online
Paul Thompson
Phone: 1 44 01614322584
Contact by Email | Website
Close
Sorry, you can't add this item to the cart.
You have reached the maximum allowed quantity for purchase in your cart or the item isn't available anymore.
Product successfully added to your cart!
Price
View your cart
Continue shopping
Please note our website will be down this Friday, November 5 from 9pm ET – 11pm ET for routine maintenance. We apologize for any inconvenience.
WORKSPAN
WORKSPAN DAILY |

Use Market Data as a Guide to Price Jobs

120221-marketdata-780x450-SM.jpg

Pinkypills / iStock

Editor’s Note: Workspan Daily will be reproducing a monthly Compensation Café blog post for the benefit of our readers and to encourage further discourse on topics vital to compensation professionals. New to WorldatWork? Please feel free to join the discussion in our new online community, Engage, or send your thoughts to workspan@worldatwork.org.

The stories my son Grey finds the most entertaining are those about my father’s legendary lack of direction. He loves hearing how Grandpa would regularly get lost coming home from work, a place we drive to every single day. My father would nearly always end up about seven miles from our house at a restaurant called the “Giant Artichoke.” They sold only deep-fried fresh artichoke hearts — the 1970s were kind of awesome. But Grey’s favorite stories are about Grandpa driving around with the whole family.

We would be driving for a long time to a place that didn’t take a long time to get to. When one of us came to the realization that we were once again astray, we’d ask our intrepid driver if he knew where he was going. His most common response? “I’m just following the guy in front of me, he knows where he’s going.” It may sound like a joke, but my dad regularly drove hours out of his way based solely on this “the other guy knows” philosophy.

I direct my team to perform “blind” market pricings whenever possible. Blind pricing is matching a role and pricing it based on all the available details except what the person is currently being paid. This ensures the pricing used is not biased by the current compensation being paid. In my experience, too many compensation professionals choose, weight or adjust data to align with what an incumbent is already being paid, or what a recruiter has said it will take to fill the position. Like my dad, this assumes the person in front of you knows where YOU are going.

I recently had someone new on my team price some jobs and the data came in a bit lower than the current staff for several positions. When I did an initial review with the client, they were shocked. They were a startup and had been intentionally paying people below market as they waited for funding to come in. We went back to the data and found that Level 1 and 2 positions were similar in price, but the jump to Level 3 was more than 40%! It turns out the Level 3 data and above matched several other surveys, but the Level 1 and 2 data matched the company’s current pay. In this case, the current pay was wrong. We releveled the data, and everything made more sense.

When I dig into analyses done by others, I often see adjustments being made to “bring the market in line with expectations.” Data is data, it is not information. Data is numbers, it is not a rulebook. Do your job analysis. Be confident in the role details.

Price to the role, not the current pay levels. Then, evaluate where things stand and what to do. If you are paying below market, but can’t afford more, then just be cognizant of the opportunity that provides competitors. If you are paying above market, but the person is doing a great job, just make sure they know they are being paid well and fix things slowly over the long run.

Please stop selecting and modifying data to match your past pay decisions. Just let the market data tell its story and use your own intelligence to decide what to do with that data.

About the Author

Dan-Walter_150w.jpg

Dan Walter, CECP, CEP, is a Fellow of Global Equity (FGE) and a managing consultant for FutureSense. Connect with Dan on LinkedIn or follow him on Twitter at @DanFutureSense.

First published at Compensation Café on Nov. 23, 2021.


About WorldatWork

WorldatWork is a professional nonprofit association that sets the agenda and standard of excellence in the field of Total Rewards. Our membership, signature certifications, data, content, and conferences are designed to advance our members’ leadership, and to help them influence great outcomes for their own organizations.

About Membership

Membership provides access to practical resources, research, emerging trends, a professional network, and career-building education and certification. Learn more and join today.