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Programme Details

Title

Developing an Equitable Compensation (Salary) Structure and Policy

Code

NHRM5303

Run#

Start Date

End Date

Closing Date

Published Title

Duration

14.0 Hrs

Course Fee	Fee (excludes GST)	Fee (includes GST)
Course Fee (After 80% funding from VCF)	$90.00	$96.30
Course Fee (Before Funding)	$450.00	$481.50

Target Participants

Administration managers, finance managers and HR personnel who are not trained in compensation management but are required to develop and maintain the pay system in the organisation

Learning Objective

Upon completion of the course, participants will be able to:

1) Describe the basic techniques of defining and valuing jobs

2) Demonstrate how to systematically determine annual increment

3) Explain pay decision rationale such as annual increment

4) Develop processes and policy of salary structure

Course Outline

1) What is a Compensation Package

- Components of a compensation package

2) Valuing Jobs

- Job Evaluation (JE) techniques
- Setting up the job structure
- Developing sub-grades

3) Setting Up The Salary Structure

- Setting up a salary structure
- Implementing a pay policy
- Performance related pay
- Conducting market survey
- Understanding key concepts
. Min-max ratio
. Point range
. Overlap
. Mid point
. Salary banding
. Policy & practice line
. Quartile

4) Market Survey

- How to use survey properly
- Interpreting survey data

5) Implementing Monthly Variable Component (MVC)

- How to implement MVC
- Sample letters and clauses

6) Salary Increment

- The various basis of increment
- Increment matrix versus performance grades
- Compa-ratio consideration
- How to deal with those at the top of the salary range
- How to deal with those outside the salary range

7) Setting Compensation Policy

- Sample policy statements

Trainer

Mr William Thien has worked in the human resource management, training and consultancy areas for more than 15 years. His work includes the development and implementation of strategies in recruitment, compensation and benefits, performance management and employee welfare.

Mr Thien is the author for 'The Hands On Guide - Human Resource Manager, Singapore', 'HR Letters, Forms and Policies, Singapore’, consultant reviewer of ‘Essential HR Solutions Singapore Letters, Forms & Policies’ and the co-author of the Singapore chapter of ‘Employment Law Asia’, renowned management reference books published by CCH Asia Pte Ltd. He has also been an editorial advisor for the publication People Strategies.

Mr Thien also conducts SSTI's "Conducting Positive Performance Appraisal Discussion", "Employee Performance Management System that Works!", "Employment Contracts for NPOs", and "Managing a Performance-Based Rewards System".

Fee Remarks

Applicable for registered charities and IPCs. Please refer to www.charities.gov.sg to check your eligibility

Enquiries

Rahayu Mokti / 62106699 / rahayu_mokti@ncss.gov.sg

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For further enquiries, please contact SSTI at = Tel: 6210 6667/8/9/0 = Email: ncss_ssti@ncss.gov.sg