Advanced Strategies & Modern Methodologies in Compensation Management

PIK760-0625 SNGP-1

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COURSE OVERVIEW

This training program explores advanced strategies and modern methodologies in compensation management, equipping professionals with the essential tools to navigate today's dynamic work environment. By understanding contemporary practices, participants are prepared to develop comprehensive compensation packages that align with organisational goals and employee expectations. This knowledge not only fosters a competitive edge but also enhances the ability to attract and retain top talent in a rapidly evolving marketplace.

Furthermore, the program emphasises the importance of effective compensation practices in driving organisational success. Participants will learn to implement equitable salary structures that promote fairness and transparency within the workplace.

By applying these advanced approaches, professionals can ensure that their compensation strategies contribute to overall employee satisfaction and engagement, ultimately leading to improved performance and productivity within their organisations.

DAY 1: Basics of Compensation Packages

  1. Introduction to compensation and benefits.
  2. Elements of an all-inclusive compensation package.
  3. Legal and regulatory factors in compensation.
  4. Comprehending the employee value proposition.
  5. Developing a compensation strategy.

 

DAY 2: Creating Salary Structures

  1. Key principles of salary structure creation.
  2. Methods for job evaluation.
  3. Pay grades and ranges.
  4. Market pricing and benchmarking practices.
  5. Implementing salary structures.

 

DAY 3: Compensation Strategies and Practices

  1. Formulating competitive compensation strategies.
  2. Systems for performance-based pay.
  3. Plans for incentives and bonuses.
  4. Equity compensation and long-term incentives.
  5. Balancing internal equity with external competitiveness.

 

DAY 4: Market Analysis and Salary Adjustments

  1. Executing compensation surveys.
  2. Evaluating market data and compensation trends.
  3. Modifying salary structures based on market analysis.
  4. Tackling pay compression and salary inversion issues.
  5. Communicating adjustments in compensation.

 

DAY 5: Aligning Compensation with Organizational Objectives

  1. Connecting compensation to business strategies.
  2. Assessing the impact of compensation on performance.
  3. Governance and oversight in compensation.
  4. Managing compensation during organizational transitions.
  5. Recommended practices in compensation management.

Price Details

  • Location Singapore
  • Languages English
  • Date 02-06-2025 - 06-06-2025
  • Duration 1 Week
  • Price £4,950.00

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