Course Details/Schedule

Day 1

• The four ingredients for successful remuneration design
• Pay Strategy
• Grade Structure
• Market Data
• Number of Months
• Salary Survey
• 4 forms of equity and how to address each
• Aim of conducting salary survey
• Formal and informal surveys
• Quartiles and percentiles
• What else should be surveyed?

Day 2

• Developing Grading and Basic Salary Structures
• Definition and types of basic pay structures
• Job Evaluation
• Identifying Compensable factors
• Determining the relative worth of jobs

Day 3

• Different job evaluation systems
• Job Ranking
• Job Classification
• Factor Comparison
• Point Method
• Pros and cons of each method, and when to use each?

Day 4

• Job Grading
• Grouping similar jobs into pay grades
• Job families
• Grading methodologies
• Broadbanding

Day 5

• Pricing pay grades
• Plotting the wage curve
• Market pricing of jobs
• Establishing a strategic pay plan

Day 6

• Fine Tune pay rates
• Developing pay ranges
• The minimum starting
• The mid-point
• The maximum
• Correcting out-of-line rates
• Managing red and green circles

Day 7

• Implementing New Grading and Salary Structures
• The role of management in implementation
• The role of the HR and reward specialist
• Guidance on how to make changes that ensure successful implementation
• Communicating the new structures to employees
• Managing progression through a pay range and managing compa-ratio
• Coping with employees who reach the maximum of their pay scale

Day 8

• Advanced Techniques for Managing Market Pay Premium
• Different options for managing “pay premium” for specialist roles
• Adjusted basic salary pay scale or specialist grades with dedicated pay scales
• Additional skills premium allowance or market allowance
• Using ranges-within-ranges or using restrictive compa-ratio ranges
• Advanced concepts for managing salary structures and advanced design of pay scales
• Managing “Narrow-Bands” and “Broad-Bands” and “Ranges-within-Range”
• The Role of Recognition Programs for Employees

Day 9

• Identifying the most appropriate schemes for your company
• Understanding the popularity of incentive schemes
• Some of the challenges of developing incentive schemes in Asia
• The case for recognition
• Types of recognition plans
• The Role of Retention Programs for Employees

Day 10

• What is a retention program in both a risk and non-risk context?
• Why have retention plans linked to talent management and key employee plans?
• Identifying the most appropriate retention schemes for your company
• Types of retention plans and the typical costs of retention schemes