Compensation Management training

Compensation Management

Compensation Management from Solomon People Solutions allows you to attract, engage, and retain top talent through competitive compensation plans that align with the company budget, corresponding job market, and government regulations.

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Medium of Instruction: English
Duration of the program: 16 hours

Program Overview

The Change Management course takes a comprehensive approach to understanding and executing change in a business. Participants will learn how to successfully manage change, overcome opposition, and ensure smooth transitions. The course combines academic principles with practical applications to provide students with the skills needed to lead and support change projects. 

 

Learning Objectives

  • Understand Change Management Principles: Learn about fundamental ideas and approaches of change management.  
  • Develop Change Strategies: Discover how to create and implement successful change strategies.  
  • Address Resistance: Identify typical sources of change resistance and strategies for dealing with and overcoming it.  
  • Communicate Change Effectively: Develop effective communication techniques to promote stakeholder clarity and buy-in.  
  • Evaluate Change Outcomes: Discover how to analyze the impact of change initiatives and determine success. 

Target Audience

  • Managers and Supervisors: Individuals responsible for leading or managing change initiatives within their teams or departments. 
  • HR Professionals: Those involved in organizational development and change processes. 
  • Project Managers: Professionals who oversee projects that involve significant organizational change. 
  • Team Leaders: Leaders who need to support their teams through periods of transition. 
  • Anyone Interested in Change Management: Individuals seeking to understand and apply change management principles in their roles. 

Program Outline

Fundamentals and Design 

  1. Introduction to Compensation Management 
  • Definition and Importance 
  • Key Components of Compensation 
  • Role in Organizational Strategy 
  1. Compensation Structures and Plans 
  • Job Analysis and Evaluation 
  • Pay Structures (e.g., salary ranges, grades) 
  • Designing Compensation Plans 
  1. Market Analysis and Benchmarking 
  • Conducting Market Research 
  • Benchmarking Against Industry Standards 
  • Salary Surveys and Data Interpretation 
  1. Breakout Session: Designing a Compensation Plan 
  • Group Exercise: Develop a Compensation Plan for a Case Study 
  1. Legal and Regulatory Considerations 
  • Overview of Compensation Laws and Regulations 
  • Compliance with Fair Labor Standards Act (FLSA) 
  • Addressing Equal Pay and Non-Discrimination 

Implementation, Evaluation, and Best Practices 

  1. Implementing Compensation Plans 
  • Communication Strategies 
  • Managing Pay Structures and Adjustments 
  • Handling Employee Queries and Negotiations 
  1. Evaluating Compensation Programs 
  • Measuring Effectiveness and ROI 
  • Collecting and Analyzing Feedback 
  • Adjusting Compensation Plans Based on Evaluation 
  1. Best Practices in Compensation Management 
  • Trends and Innovations in Compensation 
  • Strategies for Effective Compensation Management 
  • Case Studies and Success Stories 
  1. Breakout Session: Evaluating and Improving a Compensation Plan 
  • Group Exercise: Evaluate and Revise a Compensation Plan Based on Feedback 
  1. Wrap-Up and Q&A 
  • Summary of Key Learnings 
  • Open Discussion and Q&A Session 

Program Benefits

How you benefit attending this program?

  • Skill Development: Learn practical change management skills that may be implemented immediately in their positions.  
  • Enhanced Leadership Capabilities: Learn how to lead change initiatives and manage teams through transitions.  
  • Improved Communication: Learn effective ways for communicating change and managing stakeholder expectations.  
  • Career Development: Increase professional abilities and value inside their organization. 

How your company benefits by sponsoring you to this program?
By sponsoring you to this program, your organization will be able to:

  • Improved Change Implementation: Increased capacity to organize and carry out change initiatives efficiently and effectively.  
  • Increased Employee Engagement: Better tactics for including and engaging staff during transitions, resulting in greater morale and productivity.  
  • Reduced Resistance: Tools and approaches for reducing resistance and developing a more flexible workforce.  
  • Enhanced Organizational Agility: Increased capacity to respond to market changes and internal transformations while preserving a competitive advantage. 

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    Here is what some of the previous participants of this program had to say:

    “We learnt a lot of new techniques which will help us to implement in our organisation”

    “It was brought across to us in a such a way that we have go back and implement”

    Beginning of the program:

    Each participant has to fill in a pre-training need form to ascertain their expectations that can be catered to by the facilitator.

    At the end  of the program

    Each participant has to submit a Post Training Action plan for implementation and to ascertain the Return on Investment.