Course Overview
This basic-level 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 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.
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 compensation management.
Participants will benefit most from this course if they
are proficient in the concepts covered in Course T1 –
Total Rewards Management. It is assumed that
participants have had no formal exposure to statistics,
but have had a basic algebra course.
What You
Will Learn
Statistics — Data, Information and Levels of Measurement
Introduces basic quantitative concepts and the four
levels of measurement.
- Why HR
professionals collect and use data
- Five key
questions to ask about the variable of interest
- Levels
of measurement
Percents
and Related Issues
Defines and compares percents, market index and compa-ratios.
- Percents
-
Individual compa-ratio
-
Department compa-ratio
- Market
index
- Percent
difference
-
Developing salary ranges
- Percents
in benefits management
Time
Value of Money
Addresses the time value of money, including compound
interest and the compound salary growth rate.
- Time
value of money
- Compound
interest and compound salary growth rate
- Constant
midpoint progression
- Annuity
payments
Statistics — Collecting, Organizing, Grouping and
Displaying Data
Introduces statistical analysis.
-
Populations and samples
-
Frequency distributions
-
Organize, group and display data
Statistics — Lying with Statistics, Graphs and Displays
Explains how to accurately display data.
-
Recognizing distorted data
- Mistakes
that distort data
Statistics — Measures of Central Tendency and/or
Location
Addresses measures of central tendency and measures
of central location.
- Measures
of central tendency
- Measures
of location
-
Percentile bars
Measures
of Variability
Discusses measures of variability.
- Measures
of variability
- Range
-
Interquartile range
-
Standard deviation
- z-scores
Statistics — Shapes of Distributions
Addresses shapes of distributions.
-
Interpreting distributions
- Normal
distribution
Regression Analysis
Introduces modeling and regression analysis.
-
Regression models in an HR environment
-
Developing a regression model
- Cautions
in the interpretation of correlations
- Multiple
regression
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