HRSINGAPORE® Compensation and Benefits Management - Course Details
 
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Compensation and Benefits Management

Objectives

At the end of this two-day workshop, participants will be able to:

  • Understand the compensation philosophy and policy framework


  • Align the reward strategy with company's business strategy


  • Understand market pay practices & limited or ambiguous market data


  • Learn essential techniques to define and evaluate jobs


  • Identify the components in the rewards system such as direct, indirect & non-financial compensation, etc.


  • Make salary payment decisions considering performance appraisals


  • Practise the design of a salary structure taking into account of limited budgets for salary increment


    • Outline

    Day 1

  • Importance of Compensation Policy & Procedure in the organization


  • Linking reward strategy with the business


    • - Compensation Strategy

    - Compensation Reward Framework

    - Why Offer Employee Benefits?


  • Planning Compensation Survey - purpose, techniques, types, market practices and result compilation


    • - Types of Data

    - Use and Sources of Survey Data

    - Pay systems & strategy


  • Sales Compensation


    • - Importance of Sales Force

    - Eval Pay Levels

    - Basic Salary Vs Incentive Mix


  • Understanding & establishing the internal equity; work environment


    • - The Pay Policy

    - The Pay Model

    - Determinants of Pay

    - Paying the Performance

    - Impact on Work Enviroment


  • Job Analysis


    • Day 2

  • Job Evaluation

  • The salary structure & its challenges

    • - Choosing a Salary Structure

    - Pay structure

    - Guidelines to Base Salary


  • Fixed & Variable Compensation:

    • - Fixed Payment

    - Payment of Salary

    - Basic and Gross Rate of Pay

    - Salary Computation Formula

    - Types of Payment

    - Income Tax

    - Variable payments/benefits


  • Performance Management:

    • - Research on employee performance

    - Performance Planning Process

    - Appraisal & Feedback


  • Case Study on Employee Discipline & Improvement


    • Methodology

    Applicable industry examples, group discussions and sharing, exercises, role play and case study.


    Who Should Attend

    HR Managers, HR Executives, Finance Managers, Administrators, Payroll/Accounts Executives and anyone interested or has responsibilities in the area of Compensation & Benefits.

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    Compensation and Benefits Management

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