21 Nov - 19 Dec |COMPENSATION AND BENEFITS PROGRAM | BY MERITT LEARNING CENTER

PROGRAM AGENDA AND DETAILS

Session 1: 21st Nov | Session 2: 28th Nov |

Session 3: 5th Dec | Session 4: 12th Dec |

Session 5: 19th Dec

Time: 10:00 AM - 12:30 PM

LEARN HOW TO REWARD EMPLOYEES AND MANAGE THE COMPENSATION & BENEFITS CHALLENGES OF YOUR ORGANIZATION  

Session I: Compensation System and Reward Concepts 

• Introduction, Understanding of the Fundamentals of Compensation, Benefits, Rewards, Total Rewards, Components of Compensation Systems, Compensation Systems in the Indian Environment, Compensation Approach and Framework.
• Reward Philosophy, Reward Strategy, Total Reward Programs, Factors Affecting Rewards, Statutory Compliances, Environmental Factors, Impact of Globalization on Compensation Programs. 

• Job Evaluation, Aspects of Job Evaluation, Job Evaluation Methodologies, Job Design, Point Rating Method, Hay Guide Chart Profile, Job Evaluation and Pay Determination, Job Pricing, Broad Banding, Linking Job Points to Pay Points. 

• Compensation Surveys, Types of Surveys, Job Equivalence, Survey Data Analysis, Job Evaluation and Salary Data, Grade Point and Market Salary, Median Pay, Percentiles, Compensation Ratios, Salary Rates, Salary Equity, Market Parity. 

• Evolution of Compensation Structures, Types of Employee Rewards, Standard Reward Practices, Flexible Pay Programs, Developing Different Compensation Structures in a Global Environment, Communicating of Compensation and Benefits Structures as ‘Employee Value Proposition’.
• Variable Pays, Types of Variable Pays (STI, MTI, LTI), Trends in Variable Pays, Designing Variable Pays, Steps in Introducing Variable Pays, Rewarding Critical Roles and Hot Skills, Different Types of Variable Pay Programs. 

Session V: Linking Rewards to Performance and Reward Communication

• Defining Performance Parameters, Measuring Performance, Basic Guidelines for Rewarding, Typical Reward Models, Linking Rewards to Performance, Pay for Performance, Integrating Total Rewards with Job, Market and Performance.
• Communication of Reward Programs, Changing Approach to Reward Communications, Steps in Effective Reward Communication, Implementation Guidelines for Reward Programs in Organizations.