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GR2: Quantitative Methods
- Understand HR
Statistics
Course Overview
· Learn
basic quantitative concepts and the four levels of measurement
· Understand
how to define and compare percents, 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
This basic-level 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. On the
fourth morning, an optional certification exam is administered covering the
content of this course.
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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 GR1. It is assumed
that participants have had no formal exposure to statistics, but have had a
basic algebra course.
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What You Will Learn
Statistics - Data, Information and Levels of Measurement
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Why HR professionals collect and use data?
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Five key questions to ask about the variable of interest
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Levels of measurement
Percents and Related Issues
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Percents
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Individual compa-ratio
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Department compa-ratio
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Market Index
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Percent difference
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Range penetration
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Developing salary ranges
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Percents in benefits management
Time Value of Money
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Compound interest and compound salary growth rate
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Constant midpoint progression
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Annuity payments
Statistics - Collecting, Organizing, Grouping and Displaying
Data
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Populations and samples
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Frequency distributions
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Organize, group and display data
Statistics - Lying with Statistics, Graphs and Displays
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Recognizing distorted data
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Mistakes that distort data
Statistics - Measures of Central Tendency and/or Location
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Measures of central tendency
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Measures of location
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Percentile bars
Measures of Variability
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Range
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Interquartile range
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Standard Deviation
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Z-scores
Statistics - Shapes of Distributions
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Interpreting distributions
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Normal distribution
Regression Analysis
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Regression models in an HR environment
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Developing a regression model
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Cautions in the interpretation of correlations
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Multiple Regression
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Credits
GRP: Required;
Recertification: 2 course, .5 Exam
CEUs: 1.5 Course, .3 Exam;
CCP and CBP Equivalency: T3
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