Designing an Equitable and Competitive Salary Structure

About this Course

In an increasingly competitive environment and talent scarce market, it is important to design a robust salary structure in order to attract, retain and motivate your best individual employees and top performers who will make your company successful.

How should your company position relative to what competitors are offering to ensure your company remains competitive and attract the best job fit candidates?

This program will cover the key steps to help you develop a salary structure that is aligned to your company’s compensation strategy and is perceived by employees to be fair, competitive in the market, motivating and easy to understand. This will enable your company to compete more effectively in the war for talent.

Objectives

This program aims to aid in your understanding and provide appropriate compensation tools in designing a salary structure that will enhance your company's effort to attract, develop and retain employees.

At the end of the workshop, participants will be able to:

Understand the key elements to consider when developing a salary survey

Understand how to use the survey data to design a salary structure and salary ranges

Determine salary market rates for specific positions

Construct salary ranges, a job grade structure program

Develop an effective Compensation Strategy

Programme Outline

Understanding the framework of compensation management

Analysing market salary data & job evaluation

Designing job level and salary structure

Understanding how to set position pay

Understanding how to communicate your compensation structure to your employees

Learning Process

Case studies and hands-on exercises to help participants better understand compensation and benefits.

Group sharing to clarify participants' questions for an impactful learning experience.

Who Should Attend

Business Owners of SMEs, HR Managers, HR Executives, HR Business Partners and Finance Administrators who possess prior basic knowledge in compensation.

What are the Benefits of Attending This Course

Participants will be provided with tools, techniques and key information you require to design a robust salary and benefits structure.

What questions this training program provides answers to:

How to establish a company's pay policy?

What is broad banding?

What formula is used to establish midpoint, range, overlap?

What size should the salary range be?

How often do we need to update the salary structure?

What is lump sum payment?

Trainer

Jude Teo has well over 20 years of extensive hands-on Human Resource experience in the Pharmaceutical, Petrochemical, Electronic and Medical Devices / Instruments and Aerospace Industry. Jude is experienced in all aspects of human resources including the setting up of new HR departments, the recruitment & selection process, compensation and benefits, performance management, development of effective HR policies, development of HR work flow processes and Organizational Development.

Jude has served as the Head of Human Resources for various multinational companies from the pharmaceutical, chemicals and medical instrument industry. He had also successfully led several new multinational start-up projects formulating HR & HRD Strategies and Policies to support new business needs of the Company and ensuring the Employment Act and relevant government regulatory requirements are met.

Jude conducts Teambuilding, Compensation & Benefits, Employment Laws, Interviewing and Communication Skills Workshop. He also facilitates workshop to help companies develop strategic & operational goals and objectives.

Jude holds a Bachelor of Business in Human Resource Management and a Graduate Diploma in Training & Development. He is a Certified Administrator/ Trainer in Myers-Briggs Type Indicator (MBTI) instruments.

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Course Info

Course Provider HRSINGAPORE PTE. LTD.
Course Category People
Course Price $680

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