Upon completion of this workshop, participants will be able to:

• Establish a strategic pay plan to attract top notch talents
• Analyze a given salary survey
• Balance internal equity with external competitiveness
• Avoid and manage salary compression
• Design a proper effective performance-based incentive plan to motivate the current employees
• Propose a competitive tailor-made benefits and services plan to retain high calibers 
• Improve employee job satisfaction, engagement and retention

➤ Module 1: Establishing a Strategic Pay Plan

A) Salary Survey

- How to take a decision regarding which survey to use?

- Learn how to read salary surveys (quartiles, percentiles, deciles & average)

B) Job Evaluation

- The Job Evaluation committee

- Identifying Compensable factors

- How to use the popular Point Method to determine the relative job weight

C) Job Grading

- Grouping similar jobs into pay grades

- Grading methodologies

D) Pricing Pay Grades

- Plotting the wage curve (Linear Regression)

- Market pricing of jobs

E) Fine Tune Pay Rates

- Developing pay ranges

- Correcting out-of-line rates (Managing red and green circles)

➤ Module 2: Variable Pay Plans

- Pay for Performance and Financial Incentives

- Designing a performance

- Based incentive plan

- Motivation theories and incentive plans

➤ Module 3: Benefits & Services

- Pay for time not worked

- Insurance, Retirement and family friendly benefits

- Payroll Calculations:

• Income tax deductions (According to the latest update July 2020)

• Social Insurance deductions (According to law No. 148 year 2019)

- Cafeteria approach