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Certified Compensation and Rewards Management Professional- NEW

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Kuala Lumpur, Federal Territory of Kuala Lumpur

Malaysia

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Description

Certified Compensation and Rewards Management Professional- NEW, 5 days

Programme Overview

This Certified Compensation and Rewards Management Professional training course covers the key aspects of compensation and reward management, including grading structures, salary structures and payscales, allowances, pay reviews, bonus and incentive schemes, benefits and non-financial reward opportunities such as recognition and retention schemes.

The 5-day course will provide delegates with the information and practical guidance to ensure their salary and grading structure meets business needs, while allowing the company to attract and retain employees in an increasingly competitive market.

Who should attend

This training course is suitable for professionals who require an in-depth knowledge of working with, and managing, salary structures and reward issues, including all professionals who work in human resources at all career levels and all specialists who work in compensation and benefits.

By the end of this training course, participants will:

  • Increase business performance and employee effectiveness through implementing reward systems that attract, retain and motivate staff
  • Align basic salary structures, grades and reward systems to a business’ objectives and human resources strategy, and discover practical steps to implement a grading system with a basic salary structure and pay scheme or update existing structures
  • Find practical solutions to their own reward issues and challenges through analysis of case studies and interactive course and clinic discussions

Course Outline

Introduction to Total Rewards

  • The evolution of rewards
  • The total rewards model
  • External influences
  • Drivers of total rewards strategy
  • Elements of total rewards strategy
  • The total rewards strategy
  • The total rewards approach

Compensation

  • Compensation
  • Factors influencing compensation
  • Base pay structure design
  • Base pay structure
  • Base pay
  • Differential pay
  • Variable pay

Benefits

  • Benefits
  • Factors influencing benefits
  • Income protection programmes
  • Pay for time not worked programmes

Compensation and Benefits Environment

  • The environmental factors effecting compensation and benefits
  • Government regulation & social security in compensation
  • Social changes & demographics in compensation
  • Changes in compensation due to collective bargaining
  • Changes in the compensation administration due to outsourcing & globalization

Building Internal Equity

  • Job description
  • Establishing internal equity: job evaluation methods
  • Using job rankings
  • Creating job grading
  • Creating point plans
  • Hay plan overview

Building External Equity

  • Different aspects of establishing external equity
  • Salary survey
  • Designing salary surveys
  • Periodicity of salary surveys

Building Individual Equity

  • Performance pay options
  • Building performance pay systems
  • Steps in introducing pay for performance system
  • Pay for performance: the challenges

Benefit Plans & Total Reward Planning

  • Benefit plans
  • Mandated benefits
  • Security/Insurance benefits
  • Retirement benefits
  • Time off related benefits
  • Non-monetary perquisites
  • Monetary perquisites
  • Cafeteria plan/flexible benefit plans

Total Rewards — Putting It All Together

  • Revisiting the total rewards model
  • The total rewards design process
  • Total rewards design considerations
  • Communicating the value of a total rewards package

Methodology

To enhance learning effectiveness, hand on experience will be emphasised in this programme through role-plays in class presentation, group facilitation and class critique.

Case studies, group discussions and video support will also be used to enhance learning experience. Fun quizzes will be injected to provide formative assessment and a fun learning environment.

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Kuala Lumpur, Federal Territory of Kuala Lumpur

Malaysia

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