Speaker: Mark Chen
Date: October 25, 2017 Time: 8:30am - 10:30am Location: Hawaii Employers Council
Compensation plays a critical role in organizations’ ongoing efforts to attract, retain and motivate a talented workforce. Properly understanding external market pay perspectives is vital to offering a meaningful total rewards program. The pay benchmarking process allows an organization to gather market information that can be utilized to develop cost-effect and market-competitive pay designs.
During the workshop, the following steps of the benchmarking process will be covered:
Understanding the audience, context, and inputs to the analysis
Select jobs to be benchmarked and gather job documentation
Determine/confirm relevant talent market(s)
Identify data sources
Gather and interpret compensation data
Adjust and finalize market rates
Develop and present findings
The workshop will walk through both the art and science of benchmarking, which ultimately provide organizations with information to support decisions around “how much” and “how to” pay its most vital asset: its people. This session will help equip professionals with the insights and flexibility they need to address their unique business needs and circumstances.
About our Speaker
Mark Chen is a Senior Consultant in Willis Towers Watson’s Executive Compensation practice. Based in the Los Angeles office, he performs financial and competitive benchmarking assessments in support of client assignments in executive compensation and outside director compensation.
In his 13 years of Executive Compensation consulting experience, Mark has assisted national and Hawaii clients in a wide range of industries, including airlines, casino gaming and leisure, media, medical devices, manufacturing, real estate and supply chain logistics.
Mark was appointed to Willis Towers Watson’s Executive Compensation Guiding Principles initiative, which is focused on clarifying and affirming our executive compensation practice’s perspectives, approaches, guidelines and key considerations in support of effective design, governance, management and administration of executive pay programs. Mark has also participated in the development and delivery of multiple training programs for our national executive compensation analyst team.
Mark earned a B.S. in Economics from the University of California, Irvine.