Advance techniques in Benefits and Compensation #256004

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Total Rewards is a powerful lever for attracting, motivating, and retaining top talent in a competitive market. Moving beyond foundational concepts, this advanced course delves into the strategic design, implementation, and management of sophisticated compensation and benefits programs. Participants will explore the analytical frameworks, financial modeling, and regulatory nuances required to craft a Total Rewards strategy that aligns with business objectives, reinforces organizational culture, and maximizes return on investment.

This program is designed for practitioners ready to tackle complex challenges such as executive compensation, equity-based incentives, international benefits structures, and the integration of wellbeing into the benefits portfolio. Through case studies, hands-on exercises, and data analysis, attendees will gain the confidence and technical skills to act as strategic advisors to business leaders.

Upon successful completion of this course, participants will be able to:

Develop a comprehensive Total Rewards philosophy and strategy that is directly aligned with business goals and talent strategy.
Design and evaluate complex compensation structures, including broadbanding, variable pay plans, and sales compensation models.
Understand the intricacies of executive compensation, including long-term incentives (LTIs), stock options, and regulatory compliance (e.g., SEC rules, Clawbacks).
Analyze and select benefits programs with a focus on cost-containment, value to employees, and integrating health & wellbeing.
Apply advanced benchmarking and statistical techniques to conduct rigorous market pricing and salary analysis.
Navigate the global complexities of compensating a multinational workforce, including expatriate packages and local legal requirements.
Communicate the value of total rewards effectively to secure executive buy-in and enhance employee understanding and appreciation.

This advanced course is designed for experienced professionals who are responsible for shaping or managing compensation and benefits programs:

Compensation and Benefits Managers, Analysts, and Specialists
Total Rewards Directors and Managers
Senior HR Business Partners who advise business leaders on pay decisions
HR Directors and VPs with oversight of the Total Rewards function
Finance professionals involved in budgeting and approving compensation plans
Consultants in compensation, benefits, or human capital

Prerequisite: A foundational understanding of core compensation and benefits principles is strongly recommended.

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