Designing compensation and benefits schemes to attract, motivate and retain employees
An efficient Compensation and Benefits management system is necessary for every company to attract, motivate and retain employees. Yet companies are often challenged to maintain a compensation system that balances internal equity with external competitiveness and is also aligned to the total strategic intent of the organisation.
Upon completion, 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 question is “how much is too much”?
• 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 meet 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
• Benefits, a key element in the total rewards equation
I. Linking the rewards system to business strategy
• Total rewards objectives, elements and model.
• Aligning rewards strategies to business strategy.
II. Determining competitive pay practices while insuring internal equity
• Job Leveling.
• Survey Management.
• Market Pricing.
• Salary structuring.
• Interpreting and using market data to partner effectively.
III. Variable pay plans.
IV. Performance Management system.
V. Linking the Performance Management system to total rewards strategies
• Managing the annual salary planning budget.
• Optimizing pay-for-performance tools: merit, bonus, stock awards.
VI. Benefits, a key element in the total rewards equation.
• HR Business Partners.
• Finance Managers.
• Payroll/Accounts Executives.
• People Managers.
• Anyone interested or has responsibilities in the area of Compensation & Benefits.
Sarah is highly competent in base salary structuring & job leveling; benchmarking & job pricing; variable pay plans design from inception in bonus plan modeling to its funding, allocation & distribution; mobility management; and benefits review & integration. As an internal consultant with the organizations she has worked for, Sarah develops and conducts regular education, training and/or communication programs for Business leaders, internal HR and Line Managers.
Sarah has also lectured part-time the Compensation Modules for the Certificate, Diploma, Degree and Master HRM courses. She also conducts the Compensation Module for HRSINGAPORE’s Certified Human Resource Administrator (CHRA) and Certified Human Resource Manager (CHRM) Courses.
Sarah holds a Degree in Business Studies, Graduate Diploma in Personnel Management and professional qualification in Chartered Secretary.
• 24 & 25 July 2018 - 24th Run - Confirmed
• Two days
• 9 am to 5:30 pm
A Certificate of Attendance will be awarded at the end of the course.
• S$ 1250 for Community
• S$ 1280 for Non-Subscribers
• Skills Connect WDA Reference CRS-N-0013375.
• Skills Future Credit for Self-Sponsored Singaporeans aged 25 and above.
• UTAP Funding is available.
• Coffee & tea with snacks during the morning and afternoon breaks
• Buffet lunch with vegetarian & halal options
Past Participants' Comments
• "Examples/anecdotes cited were relevant and thought-provoking." - Phua Shyan-Hwei
• "Sarah was very experienced and very knowledgeable in her area of work. Overall a very good program and provided good basis for Compensation & Benefits Management."
• "Trainer has a very good understanding of the course and has given us a very clear & thorough walk through Compensation & Benefits management." – Jessica Wong, Meiji Seika (S) Pte Ltd
• "Everything that I learn during this 2-day course is useful, along with lots of practice!" - Patsy Lee, Pigeon Singapore Pte Ltd
• "Case studies are useful as it gives an idea of how salary structures are designed"
• "All of it are useful!" -Cheryl Tan, Solvay Specialty Chemicals Asia Pacific Pte Ltd
• "Salary range concept is useful" - Angie Soh, Singapore Technologies Marine Limited
• "It has helped me to frame my knowledge of Comp & Ben!"
• "Job grading; salary structure (spread between min & max) can be applied at work" - Callie Tan from DEUTZ Asia-Pacific (Pte) Ltd
Past Participant Organisations
• A.O. Smith Electrical Products (SEA) Pte Ltd, Adventus Singapore Pte Ltd, Allied Telesis Asia Pacific Pte Ltd, Alpha Analytical (S) Pte Ltd, Amplus Communication Pte Ltd, Arkema Pte Ltd, Ashok Leyland Ltd, Audex Pte Ltd, AvanStrate, A* Glasstech Pte Ltd
• BASF South East Asia Pte Ltd, Biomedical Sciences Institutes, BMW Asia Pte Ltd, Boehringer Ingelheim Singapore Pte Ltd, Boeing Singapore Training & Flight Services Pte Ltd, Building and Construction Authority, Blizzard Entertainment
• C.K. Tang, Caterpillar, Centenary Bank (Uganda), Central Label, Certis CISCO Security Pte Ltd, CEVA Asia Pacific Holdings Company Pte Ltd, CIBA Vision Asian Manufacturing & Logistics Pte Ltd, Citibank N.A., City Gas Pte Ltd, Civil Aviation Authority of Singapore, Competition Commission of Singapore, Confucius Institute - NTU, Convergys Singapore Pte Ltd, Copper Development Centre - Southeast Asia, Corrupt Practices Investigation Bureau, Credit Suisse (Singapore) Ltd, China Railway 11 Bureau Group Corporation (SG Branch), Casio Singapore Pte Ltd, Changi Airport Group (S) Pte Ltd, Cheang Bak Vanhong Jewelry Store
• Daimler South East Asia Pte Ltd, DBS Bank, Defence Science & Technology Agency, Deutsche Bank AG, DEUTZ Asia-Pacific Pte Ltd, DHI Water & Environment (S) Pte Ltd, DOCOMO interTouch Pte Ltd, DBL Group Pte Ltd
• Economic Development Board Singapore, Epsilon Telecommunications (SP) Pte Ltd, E-T-A Asia Pacific Pte Ltd, Europtronic (S) Pte Ltd
• Franklin Offshore International Pte Ltd, Fluke South East Asia Pte Ltd, Fabri-Tech Components (S) Pte Ltd
• Gemalto Pte Ltd, GEMS Education (East Asia) Pte Ltd, GlaxoSmithKline, Global Indian International School Pte Ltd, GMP Recruitment Services (S) Pte Ltd, Goldbell Leasing Pte Ltd, Groz Beckert East Asia LLP, GWC Holdings Pte Ltd, Goodrich Aerostructures Service Center - Asia Pte Ltd
• Health Promotion Board, Health Sciences Authority, Heatec Jietong Pte Ltd, Heng Long Leather Co. Pte Ltd, Hewitt HR Delivery Services Pte Ltd, Horizon Singapore Terminals Pte Ltd, HSBC Private Bank (Suisse) SA, Housing Development Corporation Ltd, H.I.S. International Travel Pte Ltd
• iFAST Financial Pte Ltd, iKnow Pte Ltd, Indonesia Deposit Insurance Corporation, International Baccalaureate Organisation, IE Singapore, IPC Information Systems (Singapore) Pte Ltd
• Jebsen & Jessen Technology (S) Pte Ltd, Jimmy Lea & Chartered Engineers Pte Ltd, Jurong Shipyard Pte Ltd
• K2 Specialist Services Pte Ltd, Keppel Fels Ltd, Keppel Shipyard Ltd, Knowledge Universe Singapore Pte Ltd, Kumon Asia & Oceania Pte Ltd, Kyowa Singapore Pte Ltd, Kemin Industries (Asia) Pte Ltd
• Lam Research Singapore Pte Ltd, Leica Geosystems Technologies Pte Ltd, Lloyd Wise Ltd
• MacGREGOR Plimsoll Pte Ltd, Manulife Singapore, Mastercard, McDonald's Restaurants, Mediatek Singapore Pte Ltd, Ministry of Culture, Community and Youth, Ministry of Finance, Ministry of Home Affairs, Mitsubishi Elevator (S) Pte Ltd, Mitsui & Co. (Asia Pacific) Pte Ltd
• National Environment Agency, National University of Singapore, Nature Environment Products (S) Pte Ltd, Newcruz Shipbuilding & Engineering Pte Ltd, NTUC Fairprice Co-operative, NTUC Healthcare Co-operative, Nanyang Technological University, Netatech Engineering Pte Ltd, Navig8 Asia Pte Ltd
• Olympus Technologies Singapore Pte Ltd, Omega Integration Pte Ltd, Optibelt Asia Pacific Pte Ltd, ONI Global Pte Ltd, Orbium Pte Ltd
• PSA International, Palsgaard Asia Pacific Pte Ltd, Pertamina Energy Services Pte Ltd, Pigeon Singapore Pte Ltd, Philip Morris Singapore Pte Ltd, PPL Shipyard Pte Ltd, PT.Asih Eka Abadi, Public Service Division, Prime Minister’s Office, Panasonic Healthcare Singapore Pte Ltd, Pizza Hut Singapore Pte Ltd
• RH Petrogas Limited, RichLand Logistics Services Pte Ltd, Razer (Asia-Pacific) Pte Ltd, RF360 Sinagpore Pte Ltd
• Samsung Asia Pte Ltd, Science & Engineering Institutes, Sembawang Country Club, Siltronic Samsung Wafer Pte Ltd, Singapore Centre on Environmental Life Sciences Engineering (NTU), Singapore Management University, Singapore Polytechnic, Singapore Prison Service, Singapore Sports School, Singapore Technologies Marine Ltd, Singapore Tourism Board, Singapore Zoological Gardens, Singapore-MIT Alliance for Research & Technology, SK Energy International Pte Ltd, SL Ponie Pte Ltd, Solenoid Singapore te Ltd, Solvay Specialty Chemicals Asia Pacific Pte Ltd, Spa Esprit Group Pte Ltd, ST Education & Training Pte Ltd, St Joseph's Home, ST Logistics Pte Ltd, Standard Chartered Bank, Standard Form, STT Communications Ltd, Suki Sushi, Swire Pacific Offshore Operations Pte Ltd, Systemed Pte Ltd, ST Electronics (Training & Simulation Systems) Pte Ltd, Samsung Electro-Mechanics Pte Ltd
• Taiyo Technology (S) Pte Ltd, Tampines Gas Centre Pte Ltd, Tanah Merah Country Club, Technic Asia-Pacific Pte Ltd, Telekom Brunei Berhad, Tetra Pak South East Asia Pte Ltd, The Great Eastern Life Assurance Company Limited, TJS Pte Ltd, TNT Express Worldwide (Singapore) Pte Ltd, Tokio Marine Asia Training Vision, TTJ Design & Engineering Pte Ltd, Tat Chuan Acoustic Pte Ltd, TUV Rheinland Singapore Pte Ltd
• UBTS Pte Ltd, UniCredit Bank AG, Ultratech SE Asia Pte Ltd, Up Your Service! Global, Ultra Clean Asia Pacific Pte Ltd
• V.Ships Asia Group Pte Ltd
• Watkins Syndicate Singapore Pte Ltd, Woh Hup (Private) Limited, World Courier Singapore Pte Ltd, Yinson Production Pte Ltd