GRP – GR4: Base Pay Administration and Pay for Performance
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Learn how to design a pay for performance base pay programme that supports your organisation’s compensation strategy and attracts, retains and motivates your organisation’s talent. This in-depth course will provide you with the skills and knowledge to design, implement and evaluate employee base pay programmes.
Key concepts you will learn and assimilate include:
Identifying the relationship between the organisation’s business strategy and the total rewards programme.
Understanding key considerations when designing base pay programmes.
Learning what it takes to implement and deliver base pay programmes, including monitoring and evaluation.
Examining pay for performance merit pay systems, including development, utilisation and costing.
Discerning how and when human resources should be involved in mergers and acquisitions.
This course is ideal for the emerging human resources compensation professional who is getting started with developing pay structures. Knowledge of basic mathematrical cencepts is recommended, including: mean, median, weighted average, compa-ratio, percentiles and calculating percents.
What you will learn
The Role of Base Pay in Total Rewards: Learn the elements of compensation, the total rewards design process, the fundamentals of base pay, job evaluation methods and job worth hierarchy.
Designing Base Pay Structures: Gain the skills to design base pay structures, including understanding pay structure design and broadbands.
Practical Applications of Base Pay Structure Design: Develop experience in the market-pricing approach, point factor approcah and integrating market data into point factor through hands-on exercises and discussion.
Base Pay Implementation and Delivery: Learn about pay approached, job-based pay, differentials, pay actions, communicating pay actions and new hire pay rates.
Pay for Performance and Salary Budgeting: Understanding pay for performance, compensation strategy and philosophy, principles of merit-pay programmes, base pay investment, merit increase guidelines and components of market-based salary budget.
Administering and Evaluating Base Pay Programmes: Be prepared to monitor pay levels, maintain pay structures and review and audit base pay programmes as well as understand compression.
Mergers, Acquisitions and Base Compensation: Acquire the skills to integrate compensation plans and communicate compensation changes during mergers and acquisitions as well as understand the role of HR and key HR priorities during these events.
Upon completing this course, you will have acquired in-depth knowledge of base pay programmes to design, implement and evaluate compensation strategy that attracts and retains your organisation’s talent.
Fee:
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E-learning plus e-binder & online exam |
Member HK$9,000; Non-member HK$11,000 |
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E-binder & online exam |
Member HK$8,000; |
Remarks:
All materials and binder will be in electronic format.
- For e-learning arrangement, participant will receive an email invitation to activate a Learner Dashboard (WorldatWork platform) account for accessing educational contents and pre-recorded videos.Click here for flyer