Description
Total Rewards Management System (TRS) | A Full Guide to TRS
Workshop Objectives:
- Define your total rewards philosophy and strategy
- Conduct a comprehensive compensation and benefits analysis
- Develop a competitive salary and benefits structure
- Design performance-based incentive programs
- Create your own compensable factors
- Use salary surveys to benchmark your compensation strategy
- Link performance to payment
MANAGING COMPENSATION AND BENEFITS
Compensation and benefits objectives.
Components of compensation and Benefits.
Establish Compensation and benefits cycle;
– Review and Analysis current practices.
– Total budget.
– Develop com & Ben Philosophy.
– Develop an Assimilation Policy.
Internal Vs. External Equity.
Moving into Total Rewards System
Components of Total Rewards Management
JOB ANALYSIS AND JOB DESCRIPTIONS
Uses of job descriptions
Job analysis explained
Carrying out the job analysis process
JOB EVALUATION
Job evaluation Methods
Designing Compensable Factors
Job Evaluation
Sources of error in the job evaluation process
COMPENSATION AND BENEFITS SYSTEMS
Types of Salary Structure
Benchmarking
Salary Survey
Designing Structures
COMPA RATIO Analysis
Assigning Pay Grades
Managing your compensation programs
Design Incentives
Evaluate effectiveness of existing incentives
Develop a broad-based corporate incentive plan
Develop a sales incentive or commission plan
TOTAL REWARDS SYSTEM
The performance cycles
Cascading organizational objectives
Performance metrics, key output & success criteria
Identifying Hi-potential top-talent employees
Mapping performance results
Workshop Duration: 4 days
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