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Improving Your Existing or Designing a New Wage & Salary Administration Plan


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OVERVIEW

Whether you are interested in creating a wage and salary administration plan or considering redesigning your current plan, this webinar will show you how to implement the steps to create a well-structured plan. 

Well-structured wage and salary administration plans in addition to facilitating the retention and recruitment of top-performing employees:

  • Contribute to an Organization’s being able to execute its Business Strategy and maximize its profitability.
  • Provide Leaders control over and maximize the payback from compensation expense – a significant budget item for any Business
  • Enable an Organization to appropriately compensate Employees relative to the market rate for their positions and their job performance.

WHY SHOULD YOU ATTEND

Wise employers know that keeping quality employees requires providing the right compensation package in the form of wages, salaries, bonuses, commission plans, stock options, profit-sharing, etc.

AREAS COVERED

I. Identifying your objectives for your compensation program: desired employee behaviours& performance outcomes your organization needs

  • Project’s rationale, goals & objectives
  • Performance outcomes your organization needs in order to execute its business strategy

II. Establishing external equity - in alignment with your organization's compensation philosophy

  • Determining your compensation philosophy
  • Identifying the employers you compete with when recruiting and retaining employees

III. Developing a wage & salary administration structure - that facilitates performance-based wage and salary increases

  • Developing competitive employee grade and salary structure with the appropriate minimum, mid point and maximums – including adequate room for salary growth

IV. Basing your wage and salary increases on desired employee performance & accomplishments

Working with each manager to assist them in:

  • Defining & being able to distinguish for each unique job – above average,  average and below average performance
  • Being able to match those performance levels to the proper performance appraisal rating

V. Developing the policies and procedures needed to properly administer your compensation program

Determining how your organization will:

  • Update your salary ranges and hourly pay grades
  • Administer promotions and demotions

VI. Utilizing multiple forms of communication - so employees understand & buy-in to the compensation plan 

  • Initiating a phased-in communication plan
  • Having a means of addressing employees’ questions on an ongoing basis

VII. Training your supervisors and managers in their compensation roles

  • The rationale for the compensation changes
  • How the plan was developed
  • How to administer the various policies

VIII. Implementing the new compensation plan 

  • Developing and adhering to a project plan – with a step-by-step, ‘best practice’ phased-in process, with accountabilities and due dates

LEARNING OBJECTIVES

The cost of compensation for most organizations is usually 20-80% of the cost of running the business. Since compensation is such a significant budget item, it's only logical for organizations to want to have a wage & salary administration plans that:

  • Contributes to the Organizations' ability to execute its Business Strategy
  • Attracts and Retains Top Performing Employees 
  • Enables the Organization to Compensate Employees according to their Performance
  • Causes Employees to trust the Compensation Plan and focus their attention on and be motivated to perform their jobs to the best of their ability.

WHO WILL BENEFIT

HR Professionals New to the Field - seeking a comprehensive view of the topic of Wage and Salary Administration.

Experienced HR Professionals - seeking a refresher on the Topic.

Line Manager - who want to participate in enhancing their current Wage and Salary Administration Plan.

For more detail please click on this below link:

https://bit.ly/2LNXjlM

Email: support@trainingdoyens.com

Toll Free: +1-888-300-8494

Tel: +1-720-996-1616

Fax: +1-888-909-1882

 

Prices

Live Session for one participant $199 Corporate Live Session Group – Max 10 Participants from one location. $549 Recorded Session Get unlimited access to the link for six months. $219 Training DVD or USB Flash Drive MP3 files, PDF presentation and reference manual will be delivered on a CD $399 Super Combo Offer 1 Live and Recorded webinar $329 Super Combo Offer 2 Live and Training CD $479

Contact

Training Doyens
support@trainingdoyens.com

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