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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
Planning Compensation Survey - purpose, techniques, types, market practices and result compilation
Understanding & establishing the internal equity; work environment
Job analysis & job evaluation
Day 2
The salary structure & its challenges
Fixed & Variable Compensation:
- Salary Payment and Benefits
- Flexible Wage System
- Monthly Variable Components
- Performance Incentives
- Recognition and Rewards
Performance appraisals & process:
- Purpose of Performance Appraisals in making compensation decisions
- The SMART Plan Process
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
Compensation and Benefits Management
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