Masterclass
Manage the Annual Salary Review
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The right budgets, allocated in the right amounts to the right people.
Maximize the Value of your Annual Increment exercise.
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Every compensation & benefits manager must know how to manage the annual salary review, and less experienced C&B specialists also must be able to support it. This course equips C&B professionals to competently perform their most important duty, the annual salary review.
Target Audience
This course is ideal for your HR and Compensation and Benefits team or staff involved in the yearly salary adjustment and reviews. This course is also ideal for your compensation and benefits managers, executives or specialists with direct responsibility for implementing the annual salary review. Designed as a skill-building class, with little theory. Participants are assumed to have some general working knowledge and familiarity with compensation fundamentals such as market pricing, pay structures and performance management.
Learning Outcomes
By the end of the session, participants should be able to:
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Apply effective project management for the salary review
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Recommend a salary budget for merit, promotion and other increase types
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Update salary ranges for the coming year
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Calculate compa-ratios for countries and employees
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Develop a salary increase guideline based on compa-ratio and performance rating
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Define and facilitate the manager input process using Excel or other HR technology
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Prepare and manage review data including consolidation and approvals
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Support effective communication of salary review outcomes
Course Outline
1. Describe the overall salary review process
2. Form and manage a salary review project team and assign roles
3. Develop project calendar
4. Establish file sharing protocols
5. Establish and Create communication plan
6. Explain types of salary budgets and their considerations
7. Recommend allocation of merit budgets
8. When and How to update salary ranges
9. Construct an Excel costing model to test salary guideline percentages within the available budget
10. Conduct a data validation phase
11. Design a manager pay review worksheet
12. Prepare and support effective communication of pay decisions
Thomas A. Farmer,
CCP, SPHR, ACTA
Consultant, Course Developer, Trainer, and Course Facilitator
Click here to read more about Tom Farmer
Thomas A. Farmer,
CCP, SPHR, ACTA
Live interview on Manila’s ANC Early Edition, with Mimi Ong: Why Total Rewards?
Click on picture above to view interview
Tom Farmer is a highly accomplished total rewards leader with a career spanning over 30 years, including 20 years in corporate roles and 10 years of consulting, most recently as owner and principal of Freelance Total Rewards Pte. Ltd. based in Singapore since 2013. Tom’s current and recent clients include CrimsonLogic, Toyota Tsusho Asia Pacific, NXP Semiconductors, The International Baccalaureate, Hempel, Armacell, Nexperia, InterContinental Hotels Group, Great Eastern Life Assurance, Jadestone Energy, Sanofi Aventis, Singapore Management University, QL Resources Sdn Bhd and Leighton Asia, India and Offshore. Before starting his own firm, Tom was with Mercer as Principal and Asia Pacific Leader for Global Mobility. Tom has been quoted by the U.S. Senate, CNN, The Washington Post, The Wall Street Journal, Business Week, and many other leading national media on new federal overtime rules and related reward topics, and has spoken at numerous conferences in the U.S., Europe and Asia.
Video about what he does, his observation of the changes taking place in workplace and his perspectives on what talent management professionals should think about rewards. Thomas also shared about how LAD helps him as provider reaching out to wider group of practitioners community.
Click on the picture below to view video.
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Promotional Course Fees Inclusive of 7% GST: $1284.00
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Price Includes: Course materials, Lunch, and 2 tea-breaks