|AC 140-01||20-Aug - 24-Aug-2017||dubai||$ 4450||english|
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|AC 140-06||19-Aug - 23-Aug-2018||doha||$4450||english||Register Now|
|AC 140-07||18-Nov - 22-Nov-2018||dubai||$4450||english||Register Now|
|AC 140-08||09-Dec - 13-Dec-2018||london||$5200||english||Register Now|
Who should attend:
Compensation and Benefits analysts and HR Professionals Payroll Manager who want to know about the functionality?
Day 1-REWARD STRATEGY
- Relationship of HR with business strategy
- What is meant by a reward strategy?
- Performance Related Pay
- Competence Related Pay
- Skill Based Pay
- Team Pay
- Broad banding
- Salary & Benefit Benchmarking
- Conducting effective Salary & Benefit Benchmarking exercises for organizations
- Recognized salary surveys and other data sources, including bespoke surveys.
- Process of how to carry out effective benchmarking exercises
Day 2-Pay & Reward Review
Reviewing how effective an organization’s current pay and reward systems
- How they compare with the organization’s competitors and the general market. Are they fair?
- Are they being operated consistently? Are they subjecting the organization to any risks? E.g. Equal Pay Claim? Are they competitive?
- Advantages and disadvantages of each.
Day 3-Pay Structures / Salary Structures:
- What are Pay Structures or Salary Structures?
- Their relative internal value, as established by job evaluation
- External relativities, via market rate surveys
- Where appropriate, negotiated rates for the job
- What are the main characteristics of Pay Structures?
- Indicate rates of pay for different jobs
- Provide scope for pay progression via performance, competence, contribution, skill or service
- Contain pay ranges for jobs grouped into grades, individual jobs or job families.
- Why do organizations need Pay structures?
- Establish a logically-designed framework within which equitable, fair and consistent reward policies can be implemented
- Determine levels of pay for jobs and people
- Basis for the effective management of relativities
- Help monitor and control the implementation of pay practices
- Communicate the pay opportunities available to employees.
The most important types of pay structure, or salary structure, are:
Day 4 Graded structures
Job Family Structures
JOB EVALUATION SCHEME
- What is Job Evaluation?
- Equal Pay for Equal Value – the Legal Position
- Types of Job Evaluation Schemes
- Analytical Schemes
- Types of Non-Analytical Schemes
4 types of non-analytical job evaluation scheme.
- Job Ranking
- Paired Comparisons
- Internal Benchmarking or Job Matching
- Job Classification
TYPES OF ANALYTICAL JOB EVALUATION SCHEMES
- Points Ratin
- Factor Comparison
Day 4-Performance Management-Part 2
PERFORMANCE PAY SYSTEM – CONTRIBUTION PAY
- Choosing a Performance Pay Syste
- Principle : Pay Increase or Actual Salary is Reward
- Principle : Performance Pay or Contribution Pay
- Principle : Behavioral Competencies Options for competencies
- Under performing
- Achieving most
- Achieving all
PERFORMANCE MANAGEMENT DEVELOPMENT & RATINGS
- New – New to the role and at the beginning of their development
- Developing – Progressing in the role but not yet fully competent
- Fully Competent – Fully developed and meeting all requirements
- Advancing – Developed beyond requirements of the role
- Expert – Demonstrates mastery of the role
Principle: Enforced or non-enforced distribution of ratings
Principle: Budget Allocation
Principle : Degree of devolvement of pay decisions to Managers
Principle :Other factors to include
Internal transfer and promotions guidelines
Six Month Reviews
Mid Year Reviews
- BONUS SCHEME OPTIONS
- Feature 1 Operating level
- Feature 2 Factors
- Productivity and output
- Cost Management
- Financial performance/profits
- Customer Service/satisfaction
- HR-Related measures
- Project Work Targets
- Team working
- Individual Performance
- Feature 3 Distribution of the Bonus Pool
- Feature 4 Frequency of Payments
- Feature 5 Hurdles
Day 5-INCENTIVE AND RECOGNITION SCHEMES
- Why introduce a Recognition Scheme? Something to remember Open to all
- Day 5-Case Studies
- Pay & Reward Design
- Compensation and Benefit
- Hay Group PayNet. Overview
- Survey Methodology and Statistical Definitions
- Internal Equity
- Benchmarking Pay / External Competitiveness
- Cost Impact Analysis