Program Overview:

This two half-day learning session will provide the participants the different techniques of measurements and how these are applied in the context of compensation management design and administration.

Program Outline:

I. Fundamental Concepts and Principles

• 1. Introductory Concepts
• 2. Compensation Management Framework
• 3. Principles of Compenation Management
• 4. Compensation Metrics and Analytics

II. Measurement and Analysis of the Compensation Structures and Processes

• 1. Job Analysis and Design
• 2. Developing the Job Description
• 3. Job Evaluation
• 4. Point Rating Plans
• 5. Job Rating Process

III. Job Structures

• 1. Job Levels and Grading System

IV. Salary Market Survey

• 1. Average or Mean
• 2. Weighted Average
• 3. Low or Minimum
• 4. Percentiles
• 5. High or Maximum

V. Philosophy and Strategy: Salary Structures

• 1. Types of Salary Structures
• 2. Salary Range and Spread
• 3. Validating the Salary Structure

VI. Salary Review Process

VII. Variable Pay Program

VIII. Developing and Administering the Compensation Management Dashboard

• Formulating the Compensation Metrics
• Developing the Spreadsheet Calculator
• Developing the Tracking and Monitoring System
• Linking Historical Data to HR Analytics

Methodology:

This program will consist of series of lectures, group discussions, group-work and self-test.

Facilitator: