Advanced Compensation & Pay-for-Performance (P4P) Masterclass
Pay Strategy, Pay Benchmarking, Compensation Design and Managing Salary Structures as part of Total Reward Management to Meet Business Needs and Drive Employee Performance
Course Fee SGD2,195
Robert Mosley was awarded the “Global HR Leadership Award” in 2017 by the World HR Congress to recognize his iconic contribution to the global C&B community over the past decade. He is truely one of the leading HR trainers in the world today, and is in the “Global Guru #500 List”.
Robert is widely recognised in many industries and many countries as one of the leading global experts on compensation and benefits, and is also a leading expert in the more general field of human resources and performance management. His main areas of expertise and specialism are in the fields of job analysis, job descriptions, job evaluation, grading schemes, pay structures, allowances, bonuses and incentives, industrial relations and collective agreements, e-HR systems, performance management, performance appraisals, and all issues on compensation and benefits globally, especially in the GCC and Asia having worked in these regions for over 25 years.
Robert was born and educated in London (in UK) and he graduated with a MA masters degree in Mathematics from Oxford University (in UK) in 1983, and then obtained his MBA masters degree in business studies from London Business School (in the UK) and Chicago Business School (in the USA) in 1985. He then became a member of the Chartered Institute of Personnel and Development (in UK) with an FCIPD qualification, after deciding to focus on HR.
Who Should Attend
This course is designed for everyone who requires an appreciation or an in-depth knowledge of pay strategy, pay benchmarking, designing payscales and compensation structures, and managing salaries of employees as part of a Total Reward framework. This includes anyone who needs to be involved in compensation and salary structures, including all employees in HR at all levels of Vps/ Directors/ Managers/ Specialists/ Analysts/ Generalists, and this course is designed for the all of the following participants:
The module on “Advanced Pay Benchmarking and Remuneration Design” (Sessions 1-6 inclusive) will provide a detailed understanding of the latest advanced best-practice approaches for designing the total remuneration packages for each grade, and benchmarking the remuneration design against an external pay market strategy and market data. This course will give practical guidance to enable you to design and implement your own plans using advanced excel spreadsheets for building a total remuneration benchmark, and achieving better business results through a more effective approach to pay benchmarking and designing compensation plans.
The module on “Pay-for-Performance” (Sessions 7-10 inclusive) will provide a detailed knowledge of how to equip yourself with the key C&B skills to motivate employees and reward their performance, and get a better understanding of the latest best-practice approaches for key compensation and reward practices geared towards pay-for-performance. The module will explain how to manage performance ratings and how to analyse the distribution curve of performance ratings, and if necessary how to use the new approach of “snap-ratio” to manage a forced distribution curve of performance ratings. The module will explain in practical detail how to link pay with performance, especially through the annual pay review process and using merit-pay awards.
Key Benefits Of Attending
Increase your business performance and employee effectiveness through implementing compensation and reward systems that attract, retain and motivate staff.
Align your basic salary structures and grades and compensation and reward systems to your business objectives and human resources strategy.
Discover practical steps for implementing a grading system with a pay strategy and a basic salary structure and pay scheme, or how to update your existing compensation structures.
Develop solutions for your own compensation and reward issues and challenges based upon practical case studies and interactive course and clinic discussions.
Opportunities for networking in the breaks with your fellow course delegates and course tutor to discuss practical issues that will help you in your workplace.
You will be provided with the information you need to make changes to your grading and salary structure. You will have an opportunity to test various ideas and to establish what may work for you. You will also be given access to various tools and techniques, as well as information on the latest trends and developments both in the region and indeed globally. This course will involve working on practical case studies to gain detailed hands-on experience using the various tools and techniques that will be discussed throughout the course.
This course is designed as an “intermediate and advanced” course in compensation, and delegates should already have practical knowledge and working experience of working with the main “fundamentals” of managing compensation including knowledge about Pay Strategy, Grade Structures, Market Pay Levels and Benchmarking, Designing Payscales and Salary Structures, Calculating Compa-Ratios, and simple Payscale Formulae (such as the single-step approach of 80%-120% for min-max pay ranges and the double-step approach of 70%-130% for min-max pay ranges).
Course Case Studies
This course is designed for companies from all countries in Asia will and include the following case studies designed around best-practice companies based in Asia:
- Determining a reward policy as part of the HR strategy and business mission and vision
- Establishing a reward strategy linked to business strategy
- Designing and selecting the most appropriate grading/salary structure
- The debate of single bands versus broad-banding
- The business benefits of single bands versus broad banding in managing jobs and grades
- Establishing pay ranges that are externally competitive with market pay surveys
- Managing base salary progression and management of compa-ratios
- Key features of performance management and appraisal systems if C&B is to be successful
- Learn how to adopt traditional pay review plans to be more selective on pay-for-performance
- Learn how to manage the costs of the annual pay reviews whilst rewarding top-performers
- Explore the compensation tools that can be used to retain and motivate top-performers
- Using retention schemes and recognition plans as a strategic component of reward