Compensation Benchmarking
Is your compensation strategy enabling you to attract & retain the best talent in this competitive market. How do you decide the quantum & structure of compensation?
Course Description
To hire and retain the best talent, competitive compensation matters. It should niether be too less to lose the talent nor too high that it impacts the the budget. You do not want talent to stay just for money. While it may look like simply “how much we are paying”, it is much more than that. Compensation benchmarking helps in making data-driven decisions. Strategic compensation decisions backed by scientific compensation benchmarking help you get the best return on your investment and gain a competitive advantage. Our practitioner-based program is designed to equip participants to acquire a better understanding & skills for compensation benchmarking. This facilitator-led course will enable you to align your compensation practices with industry standards.
Most Suitable For
HR professionals with core compensation knowledge.
Key Learning Outcomes
- Gain deeper understanding of overall compensation philosophy and management
- Learn fundamentals of compensation benchmarking process
- Understand techniques to help analyse market salary & benefits data
- Learn approach to take strategic compensation decisions based on benchmarking insights
- Tips for making compensation benchmarking process more efficient
Coverage
- Compensation & total rewards
- Compensation philosophy & compensation structure
- Terminologies in compensation
- Why compensation benchmarking
- The benchmarking process
- Defining the scope, comparator basket, roles for benchmarking
- Compensation analysis methodology
- Taking strategic compensation decisions based on benchmark insights
- Factors influencing placement of individual in a certain range
- Understanding data anomalies and interpretation
Andragogy
- Case studies, self-reflections & assessment, individual & group exercises, role plays, quizzes, chat, videos, App based activities, Q&A. (Need based pre & post program assessment )
Offerings
- F2F, Live Virtual Class & Webinar mode
- X’CEL approach for highly experiential, contextualised to the client’s business context for learner delight
- Optional Customization - Duration of Programs
- Training needs analysis prior to design and delivery for maximum program value & impact
- Pick & choose from a ready list or we can create one for you
- Facilitators with 15+ yrs. experience with deep subject knowledge & specialization
What Participants Say
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