Workshop on Compensation and Benefit

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Event Details

Workshop on Compensation and Benefit - Aug 22, 2019

Date & Time: August 22nd - 23rd, 2019, 10:00 am- 5:00pm

An effective compensation strategy motivates current employees and is used as a tool to attract new ones. ... This includes the cost of health benefits, retirement benefits, tuition reimbursement, bonuses or any other non-salary benefit that is considered part of a total compensation package.


Objective :

  • The workshop is to understand the following:

  • The role of government regulation with regards to Compliance and employee benefit.

  • The components of a compensation system.

  • How to build effective variable pay systems.

  • How to build job grading system to create internal equity.

  • How to create different levels of salary benchmarks.

  • How to create various benefit systems for employee & how reward planning can be used to cut compensation costs.

  • How to build high impact compensation systems.

DAY: 1
Session I: Introduction, History of Compensation, Understanding of the Fundamentals of Compensation, Benefits, Rewards, Total Rewards, Components of Compensation Systems, Statutory Compliances and Government regulations, Compensation Systems in the Indian Environment, Compensation Approach and Framework.
 
Session II: Reward Philosophy, Reward Strategy, Total Reward Programs, Factors Affecting Rewards, Impact of Globalization on Compensation Programs.
 
Session III: Job Evaluation, Aspects of Job Evaluation, Point Rating Method, Hay Guide Chart Profile, Job Pricing, Broad Banding, Linking Job Points to Pay Points. 
 
Session IV: Compensation Surveys, Types of Surveys, Job Equivalence, Survey Data Analysis, Job Evaluation and Salary Data, Grade Point and Market Salary, Median Pay, Percentiles, Compensation Ratios, Salary Rates, Salary Equity, Market Parity. 
 
DAY: 2
Session I: Evolution of Compensation Structures, Types of Employee Rewards, Standard Reward Practices, Flexible Pay Programs, Developing Different Compensation Structures in a Global Environment, Communicating of Compensation and Benefits Structures as ‘Employee Value Proposition’. 
 
Session II: Variable Pays, Types of Variable Pays (STI, MTI, LTI), Trends in Variable Pays, Designing Variable Pays, Steps in Introducing Variable Pays, Rewarding Critical Roles and Hot Skills, Different Types of Variable Pay Programs. 
 
Session III: Defining Performance Parameters, Measuring Performance, Basic Guidelines for Rewarding, Typical Reward Models, Linking Rewards to Performance, Pay for Performance, Integrating Total Rewards with Job, Market and Performance. 
 
Session IV: Communication of Reward Programs, Changing Approach to Reward Communications, Steps in Effective Reward Communication, Implementation Guidelines for Reward Programs in Organizations.

For Whom :

Managers, Executives and Senior Officials at the Corporate as well as the establishment level in HR/Administration, Accounts and Line Functionaries.

Sheena Rajan, Founder & Partner, Aanvikshiki HR Solutions

MBA in HR, Masters Degree in Leadership Science and PG in Psychological Counselling, Certified Practitioner in Neuro Linguistic Programming with 24 years of work experience. She has worked in Human Resource Management functions in various roles starting from Basic payroll, then P&A role to Strategic & Business HR person’s role in various organizations. Her major associations in Corporate were Boots Piramal Healthcare Limited, Shell India, Travel Food Service, Gajanan Oil Pvt Ltd.  Self-Retired as Director HR for International Operation and started her entrepreneurial journey. She is specialised in management, development, restructuring, evolving and stabilizing performance management system, setting HR policies and procedures in line with organizational vision. She has seen takeovers and mergers and has worked for amalgamation of cultures for such companies. She is also involved and is invited for sessions/ lectures/ presentations in different forums, institutions and colleges.

Board Room, Bombay Chamber, The Ruby, NW-4th Floor, Dadar (W), Mumbai – 400028

Chetna Surti
Tel - 49100228, 98926 86418
 
Supriya Pandey
Tel - 61200250, 9820202236
Participation Fee :   
Members  Rs. 3500 + 18% GST (Per day)
Non-Members  Rs. 4000 + 18% GST (Per day)

Bank Details for NEFT

Account No.

02422418061924

IFSC CODE

DCBL0000024

Bank Name

DCB Bank

Branch Address

Mahim (024), Mumbai

Cheque /Demand Draft should be drawn in favor of “BOMBAY CHAMBER OF COMMERCE AND INDUSTRY”.

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