DESIGNING A COMPETETIVE SALARY STRUCTURE

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Training Program Description:

Designing competitive pay practices to attract and retain top talent is a key strategic priority for HR and compensation professionals and one that can greatly affect employee behavior
Through the trainer’s expertise and practical knowledge, you will be able to define the key concepts associated with designing a salary structure and you will be able to:

  • Implement Job Analysis and Write a job description
  • Use a Qualitative & Quantitative methods in conducting a job evaluation & its contribution in developing an effective salary structure
  • Analyze market pay survey data in comparison with benchmark jobs
  • Conduct a simple regression analysis through using Excel to create a market pay line
  • Create pay grades and pay ranges
  • Implement the Pay Structure

This Training Program is designed for:

HR & Compensation Professionals who are interested in getting a constructive approach in
designing and implementing salary structures that work. in addition to the non-HR professionals who are responsible for HR activities.

The Learning Model

The trainer uses up-to-date training techniques and a variety of training methods, to give all participants the best opportunities for learning, including:

  • Class Session
  • Group Discussions
  • Simulations exercises
  • Case studies and Problem Solving Exercises
  • Individual assignments
  • Templates and tools

Training Program Outline:

Managing Compensation

  • Overview of Concept, Objectives, Components and Principles of Compensation
  • Building Compensation Philosophy and Strategy aligned with Business Goals
  • Factors affecting in designing Compensation plan

Job Analysis & Classification review

  • Carrying out the effective Job Analysis Process
  • Components of a Job Description
  • Job Description Writing

Job Evaluation

  • Job Evaluation Define
  • Job Evaluation Methods
  • Job Evaluation Guidelines
  • Job Evaluation process

Market benchmarking

  • Pay policy identification
  • Market Survey Analysis and Establish market definition
  • Compare benchmark jobs to market
  • Assesses competitiveness of pay practices

Design Pay Structure

  • Linear Regression and Correlation Analysis in designing a Pay model and policy line identification (Excel Spreadsheet Applications)
  • Pay Structure Model Creation. (Grades, pay scale, Pay Ranges, Midpoint, Spread and Overlap) Implementation of salary structure.

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