WorldatWork CCP Course: C3E – Quantitative Principles in Compensation Management
As a human resources professional, having a solid set of HR statistics and analytics skills is essential for delivering actionable insights for informed decision making to positively impact your organization’s business outcomes. In this hands-on HR statistics course, you will master applied statistics to HR issues and gain analytics skills using Excel.
Topics covered in the course include:
- Learning regularly used statistical tools, including the applications of these tools for total compensation design and administration.
- Recognizing the four levels of measurement and the quantitative concepts in HR.
- Finding, collecting, analyzing and accurately displaying statistical data in the most effective way.
- Understanding the relevant application of various statistical tools.
- Introduction to increasingly used advanced statistics for decision making, including regression analysis.
This course is part of the CCP and GRP certifications. It is designed for the HR professional seeking a foundational understanding of statistics in compensation management with responsibility in the area of compensation design.
The course is also a helpful refresher for the experienced professional. Participants will need access to Microsoft Excel 2010 or later while completing the course. Specific areas covered include:
- Statistics: Data, Information and Levels of Management
Discover why HR professionals collect and use data and learn key questions to ask about the variable of interest. Learn about the levels of measurement.
- Percents and Related Issues
Dive into percents, individual compa-ratio, department compa-ratio, market index, percent difference, developing salary ranges and percents in compensation management.
- Time Value of Money
Understand how the time value of money is directly related to compensation, along with present and future value, compound interest and compound salary growth rate, constant midpoint progression and annuity payments.
- Statistics: Collecting, Organizing, Grouping and Displaying Data
Learn about populations and samples as well as frequency distributions, including how to organize group and display data.
- Statistics: Lying with Statistics, Graphs and Displays
Recognize distorted data and commonly used mistakes that distort data.
- Statistics: Measure of Central Tendency and/or Location
Gain insights on measures of central tendency, measures of location and percentile bars.
- Measure of Variability
Understand measure of variability including range, interquartile range and standard deviation. Also learn about z-scores, including 2-sigma and 3-sigma rules.
- Statistics: Shapes of Distributions
Interpret distributions of data and understand the application (both good and poor) of normal distribution.
- Regression Analysis
Learn about regression models within the compensation environment, how to develop a regression model, cautions in the interpretation of correlations and multiple regression.
Through this course, you will gain essential knowledge and skills in compensation statistics and analysis. Through hands-on Excel practice, you will collect and use data for problem solving and decision making that impacts your organization’s business goals and outcomes.