Advance techniques in Benefits and Compensation #256004

Day 1: Strategic Foundations of Total Rewards

• Morning Session: Aligning Total Rewards with Business Strategy

  • Developing a Formal Total Rewards Philosophy and Statement

  • Conducting a Strategic Gap Analysis: Where are we vs. where we need to be?

  • The Financial Context: Understanding Labor Budgeting and Cost Modeling.

• Afternoon Session: Advanced Job Analysis and Architecture

  • Designing a Future-Proof Job Architecture and Leveling Framework.

  • Advanced Job Evaluation Techniques: Point Factor and Factor Comparison Methods.

  • Workshop: Evaluate and slot benchmark jobs into a new leveling structure.

Day 2: Advanced Compensation Design & Modeling

• Morning Session: Sophisticated Salary Structure Design

  • Designing and Implementing Broadbanding Structures.

  • Advanced Market Pricing: Using Multiple Surveys, Regression Analysis, and Aging Data.

  • Managing Compa-Ratios, Red-Circling, and Green-Circling.

• Afternoon Session: Variable Pay and Incentives

  • Designing Strategic Short-Term Incentive (STI) Plans: Bonus Structures, Gain-sharing, Profit-sharing.

  • Crafting Effective Sales Compensation Plans: Draws, Commissions, Accelerators, and Caps.

  • Case Study: Model the financial outcomes of different incentive plan designs for a sales team.

Day 3: Executive Compensation & Long-Term Incentives (LTIs)

• Morning Session: The Components of Executive Pay

  • The Executive Compensation Model: Base, STI, LTI, Perquisites, and Benefits.

  • Role of the Board’s Compensation Committee and Say-on-Pay Rules.

  • Regulatory Environment: Proxy Disclosures, IRC 162(m), and Clawback Policies.

• Afternoon Session: Equity-Based Compensation

  • Types of LTIs: Stock Options (NSO/ISO), Restricted Stock Units (RSUs), Performance Shares.

  • Accounting Basics: Understanding Black-Scholes and FASB ASC 718 (FAS 123R).

  • Workshop: Compare the value and vesting implications of different equity awards for executives.

Day 4: Strategic Benefits Management & Wellbeing

• Morning Session: Benefits Strategy and Cost Management

  • Advanced Health & Welfare Plan Design: Self-Funding, Stop-Loss Insurance, Pharmacy Benefits.

  • The Future of Benefits: Personalization, Flexibility, and Technology (Benefits Administration Platforms).

  • Conducting a Cost-Benefit Analysis for new benefits offerings.

• Afternoon Session: Integrating Wellbeing and Retirement

  • Building a Holistic Wellbeing Strategy: Financial, Mental, Physical, and Social.

  • Advanced Retirement Plan Management: 401(k) Non-Discrimination Testing (ADP/ACP), Safe Harbor Plans, and 403(b).

  • Activity: Design a flexible benefits package for a multi-generational workforce.

Day 5: Global Rewards and Communication

• Morning Session: Introduction to Global Compensation

  • Key Challenges in Managing International Compensation.

  • Developing Expatriate Compensation Packages: Balance Sheet vs. Localization Approaches.

  • Understanding the Impact of Local Tax, Social Security, and Legal Requirements.

• Afternoon Session: The Art of Communication and Implementation

  • Calculating and Communicating the Total Value of Employment.

  • Developing a Rollout Plan for a New Total Rewards Program.

  • Capstone Project: Participants present a strategic Total Rewards proposal for a given business scenario, incorporating elements from all five days.

  • Course Recap & Next Steps