Evaluating Performance-Based Compensation Programs: Tools and Techniques ICS402
** Nonprofit and public sector employees are eligible for a 15% discount on tuition for this course.
** If you need an alternative to registering online or are a member of the ILR Alumni Association, please click here for information on registration procedures.
Compensation strategies directly linking pay to performance can lead to efficiency gains in the utilization of compensation budgets. But these gains in efficiency come only if the performance-pay strategy is itself performing well. A thorough evaluation of performance-based pay systems requires the use of multiple lenses: financial, human capital, and market-based perspectives.
This two-day course will outline how to build the appropriate contextual framework for evaluating performance-based compensation systems. The course will present quantitative and non-quantitative tools and techniques for assessing performance pay through a variety of lenses. Multiple, real-world scenarios illustrate how to achieve business objectives and strategic ambitions. Emphasis is placed on customized action plans, rather than “one size fits all” solutions.
While this course can be taken on a stand-alone basis, the Institute for Compensation Studies (ICS) Advanced Certificate in Performance Pay, Metrics and Practice Alignment is given to recognize completion of the four courses in the certificate curriculum.
Who Should Attend?
This course is designed for compensation practitioners, analysts, managers and experienced HR professionals and business partners who want to improve their capabilities and insight across a broad spectrum of pay-for-performance considerations.
Class size is limited to facilitate interaction with faculty, stimulate peer-professional exchange, and create a participatory learning experience.
What is the Course Curriculum?
Designed in collaboration with senior faculty at Cornell University’s ILR School, this course offers the perfect blend of academic study and practical application. The course content includes case studies to illustrate key concepts, and is underpinned by an evidence-based, social science approach.
Topics addressed in this course include:
- Delineating the types of data and information necessary for a thorough evaluation of a pay for performance system
- Reconciling the financial commitment required for performance-based pay to succeed and the organization’s financial resources and ability to pay
- Assessing the efficacy of performance-based pay systems as part of the organization’s overall talent and business strategy
- Measuring the relationship between pay for performance, changes in productivity and the bottom line of the organization
- Examining the frequency, quantity and quality of feedback provided to employees
- Quantifying the overall return to the organization of a performance-based pay system
Note: The information presented in this seminar is for educational purposes and should not be interpreted as legal advice.
How will my organization and I benefit?
Participants will leave the course with an improved capacity to analyze and evaluate the efficacy of performance-based pay systems. Organizations can benefit through improved allocation of financial and human capital resources and a richer understanding of the effects of pay for performance on the success of their operations.
Joe E. Grasso, Associate Dean of Finance, Administration and Corporate Relations, Cornell's School of Industrial and Labor Relations, has 25 years of financial and managerial experience in the private, public, and non-profit sectors. While working in higher education, he has served as Colgate University's Director of Budget, Institutional Research and Planning; VP of Finance and Administration at Allegheny College; Dean for Planning and Operations at the University of Virginia's College of Arts and Sciences; VP of Administration at Washington and Lee University; and Cornell University's Associate Dean- Finance, Administration, Corporate Relations.
Stephanie R. Thomas, is a Research Associate of the Institute for Compensation Studies in the ILR School and a Lecturer in the Department of Economics at Cornell University. Stephanie has completed research and published on a variety of labor economics topics including wage determination, pay gaps and inequality, and the quantitative analysis of employment discrimination. She is the author of Compensating Your Employees Fairly: A Guide to Internal Pay Equity. During her 15-year consulting career, she specialized in the analysis of equal employment issues and provided consulting services to Fortune 500 companies, privately held businesses, major law firms and government agencies. Stephanie has also served on the faculty of New York University, where she was awarded the Excellence in Undergraduate Teaching. Stephanie holds a Ph.D. in Economics from The New School for Social Research.