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When looking for the right new hire, how do you determine the right compensation?
Hint: Your company or department internal budget is not the answer.
When you’re looking for the perfect fit for your company, so are other businesses in that area. Therefore, you must be ready to compete with those businesses for the best candidate and to do that your salary offer must be in line with the market rate for the position.
Market rate is defined by WorldatWork as the market competitive salary for a job that represents the average prevailing pay rate for that job in a particular data set. Your organization’s internal equity should aid in determining salaries within departments but shouldn’t be a benchmark in the hiring process. Overall, internal equity is not a hiring issue, it is a compensation issue.
Use this in-depth on-demand webinar led by compensation expert John A. Rubino. Mr. Rubino will discuss strategies to help you determine the right balance between internal equity and market rate.
You’ll learn how to:
John A. Rubino
President & Founder
Rubino Consulting Services
John A. Rubino is president and founder of Rubino Consulting Services (RCS), a global human resources consulting company based in Pound Ridge, New York USA. His areas of expertise are in the design and implementation of corporate values/objectives and their linkage to human resources strategies, performance-driven incentive plans, sales compensation programs, performance management systems, management training programs, team dynamics, leadership skills, motivational training, and human resources communication programs. Prior to forming his own consulting company, Mr. Rubino was senior manager of human resources consulting services for Ernst & Young LLP and director of executive compensation for The Equitable Life Insurance Company. He has also provided a variety of human resources services to organizations in the financial services, high-tech, manufacturing, and public sectors.
An internationally acclaimed speaker, course developer and seminar leader for WorldatWork and the American Management Association, Mr. Rubino is the author of two books — Developing Compensation Programs: Job Analysis, Evaluation and Classification and Communicating Compensation Programs: An Approach to Providing Information to Employees.
Moreover, Mr. Rubino has written a number of articles on human resources and is frequently quoted in professional publications. A Certified Compensation Professional (CCP), Certified Benefits Professional (CBP), and Global Remuneration Professional (GRP), Senior Practioner of Human Resources (SPHR), and a Master Reward Specialist (South African designation), he holds a BA from Wagner College and an MBA from the Lubin Graduate School of Business, Pace University, as well as a Lifetime Achievement Award from WorldatWork and an Honorary Membership Award from the South African Reward Association (SARA). Mr. Rubino has been elected to Marquis Who’s Who in the World, Who’s Who in America, Who’s Who in the East and Who’s Who in Finance and Industry.