A Comprehensive Guide to Understanding, Designing and Managing Compensation Systems
In many organisations, compensation represents a significant portion of the business' budget and it plays an essential role in attracting and retaining employees. In this regard, how to compensate your people is one of the most important strategic decisions you will make, whether you are implementing a new strategy or adjusting an existing system. In many ways, it can give your organisation a significant competitive advantage, while supporting (or hindering) the culture and drive of the business, and the behaviours needed to grow and expand.
The topics were carefully chosen to provide participants with the information, methodologies and tools to understand better the language and concepts of compensation within the overall HR function, and how to correctly design an effective compensation system.
TOPICS TO BE COVERED
Establishing a baseline for understanding compensation in the context of Human Resources functionality.
- What is compensation?
- Basic objectives of compensation and benefits
- External influences
- The compensation philosophy as a baseline
- Aligning compensation with the mission, vision and strategy
- Effective compensation management system
Understanding the competitive landscape for compensation, and designing effective base pay programs.
- Factors influencing compensation
- Job analysis and job documentation
- How to design and conduct an external market study
- Salary design and structure
- Base pay policies, procedures and implementation
- Optimising pay for performance tools
- Activity: Develop a compensation system and analyse data
WHO SHOULD ATTEND?
This session is ideal for persons directly involved in the development, management or administration of compensation systems, and persons preparing for or engaged in collective bargaining negotiations. Business Owners, CEOs, HR and IR Professionals, Finance Professionals, Administrators and other professionals have all benefitted from this programme in the past.
Date: January 25th, 26th and 27, 2023 | Time: 8:30 a.m. - 12:15 p.m.
Cost (per person): $3,500.00 plus vat (ECA Members) | $4,900.00 plus vat (Non-Members)
FACILITATOR
Mr. Gaston Harrison
HR/IR Consultant
Gaston has over thirty (30) years of considerable experience in a wide range of Industrial Relations and Human Resource activities, including benefits and compensation administration, grievance management, mediation, collective bargaining, discipline, change management, training and development and performance management, among others. He also possesses specific experience in representation at the Ministry of Labour and the Industrial Court.
Gaston is a former Senior Human Resource Advisor to the Chief Personnel Officer - Government of Trinidad & Tobago, and a former Manager IR, Compensation and Benefits - Central Bank of T&T.
Event Information
| Event Date | 25/01/2023 8:30 am |
| Event End Date | 27/01/2023 12:15 pm |
| Individual Price | Members: $3,500.00, Non-Members: $4,900.00 (plus vat per person) |
| Location | Online - ZOOM Meeting |