In this compensation management training course, participants will learn and share experiences on the importance of the need to maintain strong principles in Compensation Management and the impact of internal and external influences that could shift your ideal state. The training program outline is up to date and pertinent to marketplace requirements, thus catering well to all analytical prediction of training needs in the specified area. A customised proposal can also be arranged, to suit the training requirement of your team.
At the end of this compensation management workshop, participants will be able to:
- Understand the total rewards philosophy and policy framework
- Align the reward strategy with company’s business strategy
- Identify the components in the rewards system such as direct, indirect & non-financial compensation, etc.
- Learn survey management techniques that meets the organization’s needs
- Understand market pay practices & limited or ambiguous market data
- Acquire basic skills in developing job levels and pay structures
- Define rewards tools or strategies that link pay to performance within given budgets
1 Linking the rewards system to business strategy
- Total rewards objectives, elements and model
- Aligning rewards strategies to business strategy
2 Determining competitive pay practices while insuring internal equity
- Job levelling
- Survey Management
- Market pricing
- Salary structuring
- Interpreting and using market data to partner effectively
3 Variable pay plans
4 Performance Management system
5 Linking the Performance Management system to total rewards strategies
- Managing the annual salary planning budget
- Optimizing pay-for-performance tools: merit, bonus, stock awards
6 Benefits – a key element in the total rewards equation Methodology
- Applicable industry examples, group discussions and sharing, exercises, role play and case study The workshop will also incorporate relevant industry literature/extracts as published by 3rd parties for relevant group discussions
Who Should Attend?
HR Business Partners, Finance Managers, Administrators, Payroll/Accounts Executives, People Managers and anyone interested or has responsibilities in the area of Compensation & Benefits.
- All our courses can be facilitated as Customized In-House Training course.
- Course duration is flexible and the contents can be modified to fit any number of days.
- As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
- The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
- FREE Consultation and Coaching provided during and after the course.