This course focuses on general quantitative concepts, basic statistical tools, the mathematics of total compensation design and administration, mathematical modeling and regression analysis. Participants learn to consider data from numerous sources, with an emphasis on problem solving and decision making. You will:
- Learn basic quantitative concepts and the four levels of measurement.
- Understand how to define and compare percentages, market index and compa-ratios.
- Study the time value of money—including compound interest and the compound salary growth rate.
- Find out how to collect, analyze and accurately display statistical data.
- Learn how to determine central tendency and measures of central location.
- Discuss measures of variability.
- Explore shapes of distribution.
- Gain an understanding of modeling and regression analysis
What you will learn:
Statistics—Data, Information and Levels of Measurement
- Why HR professionals collect and use data
- Five key questions to ask about the variable of interest
- Levels of measurement
Percentages and Related Issues
- Individual and department compa-ratio
- Market index
- Percent difference
- Developing salary ranges
Time Value of Money
- Compound interest and compound salary growth rate
- Constant midpoint progression
- Annuity payments
Statistics—Collecting, Organizing, Grouping and Displaying Data
- Populations and samples
- Frequency distributions
- Organize, group and display data
Statistics—Lying with Statistics, Graphs and Displays
- Recognizing distorted data
- Mistakes that distort data
Statistics—Measures of Central Tendency and/or Location
- Measures of central tendency
- Measures of location
- Percentile bars
Measures of Variability
- Interquartile range
- Standard deviation
- Z-scores
Statistics—Shapes of Distributions
- Interpreting distributions
- Normal distribution
Regression Analysis
- Regression models in an HR environment
- Developing a regression model
- Cautions in the interpretation of correlations
- Multiple regression
Who Should Attend?
This course is intended for those who seek knowledge in applying statistics in total compensation management. Participants will benefit most from this course if they are proficient in the concepts covered in course T1/GR1. It is assumed that participants have had no formal exposure to statistics, but have had a basic algebra course.
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As a member of NCRF, you may attend WorldatWork certification courses in Portland. We have a reciprocation agreement with Columbia Willamette Compensation Group and you may attend their classes at the NCRF member rate. Check out their website for upcoming classes: http://www.cwcg.org/
2018 Training Cost
Course and Exam: Includes tuition, course material and certification exam
• $1,350 NCRF and CWCG members (10% discount off W@W Member price!)
• $1,495 W@W members
• $2,200 non-members
Course Only - 2 day: Includes tuition and course material
• $1,255 NCRF and CWCG members (10% discount off W@W Member price!)
• $1,390 W@W membership only
• $2,085 non-members
Exams:
Exams for the certification courses are offered via computer based testing (CBT) through an external vendor. https://www.worldatwork.org/waw/cbt/faq.html
Register for a course:
To receive the NCRF member pricing; please login to the member only area or contact WorldatWork's Customer Relationship Services at 1-877-951-9191. (Please indicate that you are a current member of NCRF when registering for your course(s).)
