Advanced Skills in Building Compensation, Benefits, and Incentive Systems

Program Description:

Many organizations face challenges in determining their grading systems and salary scales. This leads to various challenges, such as employees demanding pay equity. These organizations need a clear and direct method for continuously measuring and evaluating jobs, which can create transparency and generally increase employee productivity. Through a blend of theoretical information and practical applications, this program will address the latest trends in the field, with a focus on how to balance market competitiveness with financial cost. Innovative tools and methods for performance evaluation will also be reviewed, linking them to incentive systems to ensure fairness and transparency.

Main Topics:

Introduction to Benefits and Perks:

• Concept of benefits and perks.
• Types of benefits and perks.
• Relationship between compensation and the company’s overall strategy.
• Foundations of building an ideal benefits and perks system for employees.
• Internal and external factors influencing benefits and perks.
• Motivation theories and their impact on system design.

Understanding Job Evaluation Model:

• Introduction to job evaluation.
• Four basic methods of job evaluation.
• Job evaluation steps.
• Job classification requirements.
• Job weighting criteria.
• Determinants of annual salary increases.
• Promotion and transfer conditions.

Creating a Salary Structure:

• Salary surveys.
• Job analysis.
• Calculating the average, upper, and lower limits for each grade.
• Internal and external factors affecting salaries.
• Determining annual increases.
• Determining salary ranges for each grade.
• Compa-Ratio equation.
• Linking organizational goals with employee performance.

Detailed Objectives:

• Introducing participants to the importance of job evaluation.
• Equipping participants with the necessary tools to review the salary and benefits structure in the organization.
• Introducing participants to how job evaluation methods can be linked to the salary and benefits structure.
• Introducing participants to fixed and variable benefits and ways to design employee incentives.

Target Audience:

• HR Managers
• Compensation and benefits managers in organizations
• Supervisors and personnel in HR and/or compensation and benefits roles