This technical course provides participants with the skills to design fair, competitive, and transparent pay structures. It covers the methodologies for evaluating the relative value of jobs and translating that value into salary scales and benefit packages that attract and retain top talent.

Course Objectives:

• Understand the principles of Internal Equity and External Competitiveness.
• Apply various Job Evaluation methods (Ranking, Point Factor, Hay Group).
• Design and grade salary structures and pay scales.
• Analyze market data using salary surveys.
• Develop incentive and bonus schemes that drive performance.

Target Audience:

• Compensation and Benefits (C&B) Professionals.
• HR Managers and Analysts.
• Finance and Payroll Managers.

Course Outline:

Day 1: Fundamentals of Total Rewards

• The Total Rewards Model: Pay, Benefits, Development, and Environment.
• Aligning Compensation with Business Strategy.
• Legal frameworks and Equal Pay considerations.
• Introduction to Job Analysis and Documentation.

Day 2: Job Evaluation Methodologies

• Non-analytical Methods: Job Ranking and Classification.
• Analytical Methods: Point Factor System.
• Selecting and Weighting Compensable Factors.
• Practical Exercise: Evaluating a set of Benchmark Jobs.

Day 3: Market Pricing and Salary Surveys

• Designing and Participating in Salary Surveys.
• Data Cleaning and Statistical Analysis of Market Data (Medians, Percentiles).
• Benchmarking and Market Positioning Strategies.
• Aging and Leveling Survey Data.

Day 4: Designing Base Pay Structures

• Creating Job Grades and Salary Bands.
• Calculating Midpoints, Min/Max ranges, and Compa-ratios.
• Broadbanding vs. Traditional Structures.
• Managing Pay Progressions and Promotions.

Day 5: Variable Pay and Benefits Design

• Designing Short-Term Incentives (STI) and Bonuses.
• Long-Term Incentives (LTI) and Equity-based Pay.
• Strategic Benefits Design (Insurance, Pension, Wellness).
• Communicating Compensation changes to employees.