Compensation Design & Pay-for-Performance Masterclass Virtual Masterclass, London

This 2-day Masterclass will provide you with the information you need to make changes to your grading and salary structure. You will have an opportunity to test various ideas and to establish what may work for you. You will also be given access to various tools and techniques, as well as information on the latest trends and developments both in the region and indeed globally. This course will involve working on practical case studies to gain detailed hands-on experience using the various tools and techniques that will be discussed throughout the course.

The module on “Advanced Pay Benchmarking and Remuneration Design” (Day 1) will provide a detailed understanding of the latest advanced best practice approaches for designing the total remuneration packages for each grade, and benchmarking the remuneration design against an external pay market strategy and market data. This course will give practical guidance to enable you to design and implement your own plans using advanced excel spreadsheets for building a total remuneration benchmark, and achieving better business results through a more effective approach to pay benchmarking and designing compensation plans.
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The module on “Pay-for-Performance” (Day 2) will provide a detailed knowledge on how to equip yourself with the key C&B skills to motivate employees and reward their performance, and get a better understanding of the latest best-practice approaches for key compensation and reward practices geared towards pay-for-performance. The module will explain how to manage performance ratings and how to analyze the distribution curve of performance ratings, and if necessary, how to use the new approach of “snap-ratio” to manage a forced distribution curve of performance ratings. The module will explain in practical detail how to link pay with performance, especially through the annual pay review process and using merit-pay awards.
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You will work on the main approaches for establishing a pay strategy, conducting pay benchmarking (external competitiveness), and designing pay scales and salary structures and learning how to manage the salaries of employees (internal equity).