A meaningful C&B strategy that helps motivate staff to go the “extra mile” is essential for organisation success. This workshop will equip participants with knowledge and field-proven techniques to design a compensation system that helps align staff performance with corporate business strategies and advocate the “pay-for-extra” culture.
Outlines
- Definition of compensation
- Common types of compensation, benefits and non-financial rewards in the market
- Aligning compensation strategies with business directives and corporate values
- 5 factors to consider when developing compensation strategies
- Introduction to strategic compensation management
- Writing effective job descriptions for various positions
- Conducting job evaluation step-by-step
- Developing grade & salary structure
- Analysing market pay trend data
- How economic trend influences compensation design
- Designing long-term and short-term incentive schemes
- Linking the incentive scheme with performance measurement results




