Compensation Strategy. Main principles and Components. Map of the Area.
- Business context. Defining a compensation strategy. Pay costs management
- The 4 Principles of a compensation system
- The 4 Components of a compensation system
- Roles & Responsibilities. Compensation management tools and diagnostics
Internal Equity and External Competitiveness principles explained in detail.
- Job Description
- Job Evaluation methods. Detail look at the analytical methods (Hay, Mercer)
- Grading structures
- Market surveys
Pay Policy Design. Base Salary Management. Annual Salary Increase.
- Defining the right market reference level
- Pay policy design (Range Setting)
- Base Salary management. Entry base salary. Promotions and lateral moves.
- Annual salary review (Merit round)
Incentives and Variable Pay. Performance Management. Reward & Recognition.
- Performance management fundamentals
- Incentive schemes: Sales Incentives. Management Incetives. STI / LTI plans, profit sharing, gainsharing
- Deferred bonuses. Stock option plans
- Reward and Recognition programmes
Employee Benefits. Strategy and Portfolio. Total Compensation Communication.
- Benefits strategy and design
- Portfolio guide (incl. Car Policy and other trending perks)
- Fix vs flexible systems, overview of cafeteria solutions
- Communication strategies and tools. Total Remuneration Statements
HR Controlling, HRIS, Pay Costs and Budgeting Process
- The „New HR Controlling“, Return on Investment
- Measuring business success: suggested KPI´s to be monitored by HR and presented to CEO
- HR Information Systems, overview and implementation hints
- Pay costs management and budgeting process