Find out how to implement a merit matrix program that works for your company.
Most organizations struggle to effectively reward employees with appropriate salary increases. Of course, appropriate can be a subjective term. This topic will help you set the correct salary increase budget for your organization and provide a framework for salary increases. One that rewards performance and evaluates salary range placement. This process will drive employees through the pay range quickly while slowing down increases for well-paid employees approaching the top of the pay range.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Introduction
- Merit Matrix Overview
Salary Increase Methods
- Across-the-Board
- Step-Based
- Pay for Performance
Pay Structures
- Benchmarking
- Structure Design
- Job Classification
Performance Management
Compensation Administration
Merit Matrix
- How It Works
- Design Considerations
- Pitfalls
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 1, 2022.
Call 1-866-352-9540 for further credit information.
HR Certification Institute 1.0
- This E-Learning program has been pre-approved for 1.0 (General) recertification credit hours toward aPHR®, aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM), and SPHRi(TM) recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
SHRM 1.0
- Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDC(s) for the SHRM-CP or SHRM-SCP.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
- Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Joe Rice
CBIZ, Inc.
- Director of compensation consulting in the talent and compensation services practice of CBIZ, Inc.
- More than 15 years of experience in the area of human resources and compensation experience, 10 years of experience working in-house in a corporate HR setting, and 5 years in consulting
- Expertise includes designing market-based compensation programs, linking pay with performance, pay structures, and compensation surveys, as well as developing policies and procedures
- Assists clients in the design and implementation of strategic base salary and incentive programs
- Can be contacted at 314-590-4070, [email protected], or www.linkedin.com/in/joericecbiz
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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