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Make Smart Decisions Using Statistics (and Excel)
Come
and participate in a dynamic workshop for compensation professionals. Learn
the most used and useful basic statistical and analytical tools using
Microsoft® Excel to help you make better decisions.
Participants will have a unique and very helpful "how to"
hands-on learning experience that combines statistical theory with
practical applications. The workshop is led by Dr. John H. Davis, CCP, an
internationally recognized consultant and teacher of statistics and
compensation.
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Who
this workshop is for
Any HR professional such as employee relations officer, compensation
professional, recruitment specialist, manpower planning analyst, and the
like who works with numbers, quantitative information, or qualitative data
that can be translated into numbers will find this workshop of value. If
your job entails understanding, describing, modeling, predicting, or
presenting quantitative information and relationships, this workshop is for
you.
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What
you will learn
This
workshop blends statistical theory with application using Excel. A good
portion of the content is learning various Excel "tricks."
At the end of the workshop, participants will have gained an understanding
of the most useful basic statistics used by compensation professionals and
an ability to apply those statistics using Excel. The major concepts
presented are
·Frequency distributions and histograms
·Measures of location - mode, median, means, percentiles
·Measures of variation - standard deviation, coefficient of variation,
P90/P10
·Simple linear regression
·Nonlinear regression - exponential and log-log
·The two major methods of salary survey analysis and pay structure
development
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Methodology
In
this workshop, the learning is in the doing. You will follow along with an easy-to-understand
workbook, and you will complete exercises in Excel that illustrate each
major statistical concept presented.
The workshop is a combination of lecture and exercises. Each participant
will be using a computer (or a laptop).
Some of the exercises are “follow along" exercises, where the
workshop leader will lead the participants through step-by-step procedures
with Excel. Others are designed for the participants to do themselves to
reinforce the learning.
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Pre-requisites
The
following prerequisites are necessary to gain the benefits of this
workshop.
·An eagerness to learn
·Comfort with new ideas
·Some familiarity with Excel (being a power user is not necessary)
·Your job entails working with and understanding quantitative information
How to get the most out of this workshop
·Review the material beforehand (Most people do not have time, but this
does help.)
·Ask questions if you don’t understand a concept or process
completely
·Give your total focus to the subject matter at hand (100% of yourself 100%
of the time)
·Listen to what others ask or say
·Participate in the discussions
·Challenge ideas you disagree with
·Complete all the exercises
·Think about where you can apply what is learned
·Get a good night’s sleep before each day of the workshop
·Have fun
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After
the workshop
Follow-up
At
the end of each of the five statistics chapters, you are asked to list
instances where you could apply what was presented in that chapter. For
each chapter, we want you to select one of the applications that you
could/would do right away.
Then, if you choose when you have finished your applications back on the
job, send them to the workshop leader, who will review them and make any
comments or suggestions.
Questions
If you have any questions on the material any time after the workshop,
please call the workshop leader.
Apply
what you learned
Finally,
just keep in mind that the knowledge you learn in this workshop will not do
any good unless you apply it. The more you apply it, the better decisions
you will make and the more useful you will be to your company.
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Course
Outline:
Introduction
Why
Do Statistical Analysis
Value Exchange Theory
The Four Absolutes of Compensation
The Role of Statistics
The Role of the Compensation Professional
Frequency Distributions and Histograms
Measures
of Location
Mode
Median
Simple Mean, Simple Average
Weighted Average and Unweighted Average
Percentile
Percentile Bars
Measures
of Variability
Standard
Deviation
Coefficient of Variation
P90/P10
Comparison and Summary
Simple
Linear Regression
Model
Building
Plotting Data
Straight Lines
Method of Least Squares
Regression
Cautions
More on Plotting Points
Glossary of Excel Regression Terms
Nonlinear
Regression
Logarithmic
Transformation Models
Power Model
Exponential Model
Logarithmic Model
Polynomial Models
Linear Model
Quadratic Model
Cubic Model
Spline Model
Survey
Analysis and Pay Structure
Integrated
Market Model Using Worksheet Function
Job Pricing Market Model Using Pivot Tables
Additional
Topics
Range
Spread Relationships
Salary Increase Budget and Administrative Pay Structure
Communication the Pay Structure
What to Present
Sample Presentation
Multiple Linear Regression Overview
Workshop
Leader
JOHN H. DAVIS, Ph.D., CCP
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