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Developing an Effective Compensation Policy
Your compensation policy needs to be clear, consistent and connected to business challenges. Structure your criteria, assess the balance and prepare reasoned choices. Strengthen your ability to discuss recognition, fairness and cost control with stakeholders.
- Duration
- 4 days 28 hours
- Code
- RH005FR Code
Presentation
An effective compensation policy rests on a balance between staff needs and company objectives. It must ensure transparency, align with the organisation's overall strategy and encourage employees to achieve their objectives. The policy must also remain competitive in the market to attract and retain talent while taking individual and collective performance into account.
This course examines the challenges and strategic objectives of a compensation policy in detail, emphasising alignment with the company's overall strategy. It explores the integration of salary classification systems, collective agreements and pay scales into compensation management. Lessons then cover the practical implementation of an internal system, calculation of variable pay, creation of a balanced and attractive compensation programme, and more.
Through this HR course, you will have the opportunity to understand compensation challenges and strategies through a case study and conduct a company assessment to put this knowledge into practice.
Objectives
The objectives are:
- Understand the challenges of job evaluation.
- Learn to evaluate jobs and build a classification framework.
- Learn to conduct a compensation assessment.
- Learn to optimise a compensation policy.
Program
Understand the challenges of a compensation policy
- The strategic objectives of compensation policy.
- The role of compensation in the company's HR offering.
- Aligning compensation policy with company strategy.
Retain talent and compete with other employers
- Developing a plan (target groups, arrangements and objectives).
- Examining the current context and strategic challenges.
- Analysing the market and competition.
Take salary classification systems into account
- Compensation management in relation to classification systems.
- The collective agreement framework, job classification and pay scales.
- Industry agreements and pay agreements.
- Market research.
Implement an internal system
- Building a staff reference file.
- Developing a jobs and skills framework.
- Matching compensation to skills levels.
- Setting intermediate salaries and their lower and upper limits.
Calculate variable pay and plan benefits
- Fixed and variable compensation (collective or individual).
- Employee benefits.
- Indirect benefits.
- Creating a balanced and attractive package.
Case study:
- define compensation challenges and strategy;
- company assessment.
Audience
HR directors, HR managers and executives in human resources departments.
Prerequisites
None
Teaching and assessment methods
- Initial skills assessment
- Training materials provided to participants
- Continuous assessment throughout the course
- End-of-course feedback questionnaire
- Combination of theory and practical application
- Attendance records
- Post-course follow-up evaluation
- Case study
Dates and sessions
Choose the date and delivery format that suit you.
No upcoming sessions are currently available.