Introduction:

This workshop covers the basics of compensation. Included are basic considerations in determining pay rates, establishing pay rates, current trends in compensation, pricing managerial and professional jobs, and current issues in compensation management.

It also lists and discusses many current and controversial issues in compensation management. You may want to incorporate a discussion of the current issues described

There is tension between the concept of providing employees with a secure, stable income (which some feel allows them the ability to be entrepreneurial and take appropriate risks for the company), and the idea of linking pay directly to performance. A good discussion may be developed from this tension in the workshop

Objectives:

  • List the basic factors in determining pay rates
  • Explain in detail how to establish pay rates
  • Discuss current trends in compensation
  • Establish a pay plan
  • Pay must be linked to performance
  • If not, employees look for raises in good times or bad
  • discuss incentive plans and compensation packages
  • Demonestrate the pros and cons of incentives for salespeople

Apply the above skills in exercises ,working groups ,case studies etc..

Using IDB real examples

Proposed Topics:

Part I

  • Strategic Overview
  • Determining Pay Rates
  • Legal Considerations in Compensation
  • Corporate Policies and Competitive Strategy
  • Equity and Its Impact on Pay Rates
  • Establishing Pay Rates
  • Step 1. The Salary Survey
  • Step 2. Job Evaluation
  • Step 3. Group Similar Jobs into Pay Grades
  • Step 4. Price Each Pay Grade—Wage Curves
  • Step 5. Fine-Tune Pay Rates

Part II

  • Pricing Managerial and Professional Jobs
  • Compensating Managers
  • Compensating Professional Employees
  • Compensation Trends
  • Skill-Based Pay
  • Broadbanding
  • Strategic HR
  • Compensation Plans in Practice
  • Money and Motivation
  • Performance and Pay
  • Types of Incentive Plans
  • Incentives for Operations Employees
  • Piecework Plans
  • Team or Group Variable Pay Incentive Plans
  • Incentives for Managers and Executives
  • Short-Term Incentives: The Annual Bonus
  • Long-Term Incentives

Part III

  • Incentives for Salespeople
  • Salary Plan
  • Commission Plan
  • Combination Plan
  • The New Workplace
  • Setting Sales Quotas
  • Strategic Sales Incentives
  • Incentives for Other Professionals and Nonmanagerial Employees
  • Merit Pay as an Incentive
  • Merit Pay Options
  • Incentives for Professional Employees
  • Organizationwide Variable Pay Plans
  • Profit-Sharing Plans
  • Employee Stock Ownership Plan (ESOP)
  • Developing More Effective Incentive Plans
  • Why Incentive Plans Don’t Work
  • How to Implement Incentive Plans

Who should attend?

This workshop is specially designed for HR professionals, managers with responsibility for developing the pay plan and compensation policy .

Also for HR generalists who wish to develop their skills in compensation and benefits

They are a regional established certified LTD company Main office in Cairo, expanding its services to the ME countries. They are Currently in the process of Establishing our new office in the United States. 

Our activities are focused in 8 main directions: 

  1. Learning and Development. 
  2. Harvest Business Academy "HBA". 
  3. Recruitment and Interviewing Process. 
  4. Harvest Center for Performance Assessment. 
  5. HR, Marketing and Management Consultancy. 
  6. Loyalty Programs. 
  7. Societal activities Harvest Scholarships etc...
  8. Data Integration

In addition to our main activities They are working in: 

  • Marketing of pharmaceutical and Para-pharmaceutical products. 
  • Integrated Marketing Services (Designs, promotional materials printing, Theyb design, event management, gimmicks etc…in collaboration with Infinity Group. 
  • Vocational and technical pharmaceutical & medical issues (New expansion). 
  • Data integration through virtualization and automation
See all Harvest Consultancy courses

Contact information not available.

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