Certification Seminar T3
Quantitative Methods

Course Overview
This intermediate-level, two-day course is one of the CCP/CBP common core courses offered by WorldatWork. It focuses on general quantitative concepts, basic statistical tools, the mathematics of total rewards 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. On the third morning, an optional certification exam covers the content of this course.

Who Should Attend
This course is intended for those individuals who are relatively new to the field as well as experienced practitioners who seek a basic treatment for applying statistics in total rewards management. Participants will benefit most from this course if they are proficient in the concepts covered in course T1. It is assumed that participants have had no formal exposure to statistics, but have had a basic algebra course.

What You Will Learn
Qualitative and Quantitative Data

• Types and levels of data/information 
• Why do we collect and use data?

Percents and Related Issues

• Calculating and displaying percents 
• Compa-ratios: individual and department 
• Compa-ratio vs. market index 
• Percent difference 
• Developing salary ranges

Developing and Evaluating the Cost of a Corporate-Sponsored Retirement Program

• Employer-sponsored retirement plans 
• Evaluating the costs/savings of a 401(k) plan
• Determining employer costs 
• Total employee contributions

Time Value of Money

• Calculating compound interest and present and future values
• Compound salary growth rate 
• Constant midpoint progression

Actuarial Issues

• Actuarial responsibilities 
• Funding a defined benefit plan 
• Realities of actuarial science

Organizing and Analyzing Data (Statistics)

• Data in compensation and benefits
• Population vs. sample data
• Sampling methods 
• Statistical tools: frequency distributions, measures of central tendency, measures of location, measures of variability, graphs and shapes of distributions

Displaying Relationships Between Data

• Plotting points for two-variable data

Modeling and Regression Analysis

• Model building 
• Mathematical models: straight-line equations, two-variable linear models, multiple linear regression 
• Correlation coefficient 
• Data in remuneration

Developing a Salary Budget Recommendation

• Components of a market-based salary increase budget 
• Required data for a salary increase budget

Guidelines for Individual Salary Increases

• Strategies for determining payout 
• Mathematical structure to guidelines

PEBA members: $810

WorldatWork members: $860

Nonmembers: $1025

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