Webinars

  July 8, 2009 at 02:00PM ET

Market pricing and compensation for hot or critical skills has always presented a special challenge to HR and compensation professionals—a challenge that has only intensified in today’s shaky economy.

Many employers are coping with limited or no salary increase budgets, and some may even assume that because the economy is suffering, that there is no need to be proactive with traditional concerns about market competitiveness, retention and motivation—even for in-demand roles and top performers.

Apathy, or a lack of attention to maintaining your compensation program puts your company’s competitive edge at risk—and will likely come back to haunt employers who choose to stay on the sidelines, assuming there is no need to stay on top of these issues.

Today’s “hot” labor markets include:

• Healthcare: nursing, lab technologists/technicians, other specialized roles
• Technology: software engineers, computer security specialists and social media strategists (Twitter anyone?)
• Corporate Finance: (believe it or not!) such as controllers
• Engineering: There is a shortage of engineers of all types. New grads are snapped up, and there is a shortage of visas while the salary scene for engineers is looking bright

The Recession is old news. The issue at hand now is how employers can best position themselves to lead—rather than follow—as the New Economy emerges.

Join IOMA and Doug Sayed, SPHR, CCP on July 8 at 2PM ET for this intense 90-minute webinar and you will learn:

• How to define and classify critical versus hot skills
• How to identify and collect quality and timely data for hot and critical skills/jobs
• If a skill set is critical or hot, how should the company pay up—base pay or use alternative compensation approaches to attracting and retaining?
• Should critical/hot-pay premiums be used and if so how do you estimate the premium?
• If a skill is critical but not hot should it be treated differently?
• How do you handle the consequences of pay for hot or critical skills that occur as a result – these include internal pay equity, pay compression, and possible loss of status if not a hot skill
• What are the various alternatives to base pay for hot or critical skills – hiring bonuses, premium skill pay, lump-sum skill pay, lump-sum skill bonuses, higher bonus targets, use training to get the hot or critical skills

Your single paid registration entitles you to as many participants as you wish in a conference room setting.

Register today for just $275. IOMA subscribers pay only $245!

FEATURED FACULTY

Doug Sayed, SPHR, CCP
Founder,
Applied HR Strategies

Doug Sayed is founder of Applied Strategies, a strategic compensation consultancy based in the Seattle area. Doug earned a Master's degree in HR management from the Ohio State University in a different era, and now has 25 years of professional and management-level experience in human resource and compensation management - 15 years "in-house" corporate experience, followed by 10 years of consulting.

Doug is the developer of the new "do it yourself" compensation series: The StrategicPay Series, and lead author of the "Base Pay Toolkit".

While originally trained as an HR manager and director, Doug's most substantial experience is in the compensation area. He is an instructor for WorldatWork (the largest professional association for compensation professionals), and has been published nationally in the WorldatWork publication, "WorkSpan" in 2004 and 2009. His most recent article, "Overcoming the Obstacles: Market Pricing and Compensating "Hot" and Critical Skilss" provides the basis for this webinar.