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.
• 30 & 31 January 2018 - 23rd 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
• "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), Adventus Singapore, Allied Telesis Asia Pacific, Alpha Analytical, Amplus Communication, Arkema, Ashok Leyland, Audex, AvanStrate, A* Glasstech.
• BASF South East Asia, Biomedical Sciences Institutes, BMW, Boehringer Ingelheim Singapore, Boeing Singapore Training & Flight Services, Building and Construction Authority, Blizzard Entertainment.
• C.K. Tang, Caterpillar, Centenary Bank (Uganda), Central Label, Certis CISCO Security, CEVA Asia Pacific Holdings Company, Ciba Vision Asian Manufacturing & Logistics, Citibank N.A., City Gas, Civil Aviation Authority of Singapore, Competition Commission of Singapore, Confucius Institute, NTU, Convergys Singapore, Copper Development Centre - Southeast Asia, Corrupt Practices Investigation Bureau, Credit Suisse, China Railway 11 Bureau Group Corporation (SG Branch).
• Daimler South East Asia, DBS Bank, Defence Science & Technology Agency, Deutsche Bank AG, DEUTZ Asia-Pacific, DHI Water & Environment, DOCOMO interTouch, DBL Group.
• EDB, Epsilon Telecommunications, E-T-A Asia Pacific, Europtronic.
• Franklin Offshore International, Fluke South East Asia.
• Gemalto, GEMS Education (East Asia), GlaxoSmithKline, Global Indian International School, GMP Recruitment Services, Goldbell Leasing, Groz Beckert East Asia LLP, GWC Holdings.
• Health Promotion Board, Health Sciences Authority, Heatec Jietong, Heng Long Leather Co., Hewitt HR Delivery Services, Horizon Singapore Terminals, HSBC Private Bank (Suisse) SA, Housing Development Corporation.
• iFAST Financial, iKnow, Indonesia Deposit Insurance Corporation, International Baccalaureate Organisation, IE Singapore, IPC Information Systems (Singapore).
• Jebsen & Jessen Technology (S), Jimmy Lea & Chartered Engineers, Jurong Shipyard.
• K2 Specialist Services, Keppel Fels, Keppel Shipyard, Knowledge Universe Singapore, Kumon Asia & Oceania, Kyowa Singapore, Kemin Industries (Asia).
• Lam Research Singapore, Leica Geosystems Technologies, Lloyd Wise.
• MacGREGOR Plimsoll, Manulife Singapore, Mastercard, McDonald's Restaurants, Mediatek Singapore, Ministry of Culture, Community and Youth, Ministry of Finance, Ministry of Home Affairs, Mitsubishi Elevator, Mitsui & Co. (Asia Pacific).
• National Environment Agency, National University of Singapore, Nature Environment Products, Newcruz Shipbuilding & Engineering, NTUC Fairprice Co-operative, NTUC Healthcare Co-operative, Nanyang Technological University, Netatech Engineering.
• Olympus Technologies Singapore, Omega Integration, Optibelt Asia Pacific, ONI Global, Orbium.
• PSA International, Palsgaard Asia Pacific, Pertamina Energy Services, Pigeon Singapore, Philip Morris Singapore Pte Ltd, PPL Shipyard, PT.Asih Eka Abadi, Public Service Division, Prime Minister’s Office.
• RH Petrogas, RichLand Logistics Services, Razer (Asia-Pacific).
• Samsung Asia, Science & Engineering Institutes, Sembawang Country Club, Siltronic Samsung Wafer, Singapore Centre on Environmental Life Sciences Engineering, NTU, Singapore Management University, Singapore Polytechnic, Singapore Prison Service, Singapore Sports School, Singapore Technologies Marine, Singapore Tourism Board, Singapore Zoological Gardens, Singapore-MIT Alliance for Research & Technology, SK Energy International, SL Ponie, Solenoid Singapore, Solvay Specialty Chemicals Asia Pacific, Spa Esprit Group, ST Education & Training, St Joseph's Home, ST Logistics, Standard Chartered Bank, Standard Form, STT Communications, Suki Sushi, Swire Pacific Offshore Operations, Systemed, ST Electronics (Training & Simulation Systems).
• Taiyo Technology (S), Tampines Gas Centre, Tanah Merah Country Club, Technic Asia-Pacific, Telekom Brunei Berhad, Tetra Pak South East Asia, The Great Eastern Life Assurance Co, TJS, TNT Express Worldwide, Tokyo Marine Asia Training Vision, TTJ Design & Engineering, Tat Chuan Acoustic, TUV Rheinland Singapore.
• UBTS, UniCredit Bank AG, Ultratech SE Asia, Up Your Service! Global.
• V.Ships Asia Group.
• Watkins Syndicate Singapore, Woh Hup, World Courier Singapore, Yinson Production.