Professional Development Information
Compensation Design & Planning
Ensure your organization is competitive by learning how to evaluate and design compensation plans and assess compensation needs to attract and retain the best talent.
Compensation directly impacts an organizations recruitment and retention strategies. In this seminar, participants examine the role of compensation in the organizations strategic HR plan, key elements and practices of putting together a compensation plan to meet organizational objectives and pitfalls that occur and how these can be addressed.
Participants will learn how to design pay scales, perform compensation reviews on hard to fill roles, and benchmark to stay market competitive. The seminar discusses how to determine if an organization needs to lead, lag, or meet market average in terms of its compensation strategy, what total compensation includes and areas of flexibility, internal and external equity and how compensation maps to all areas of human resource management.
Learning techniques used in this session include listening, discussion, visual, group activities, and partner activities.
Compensation Planning Overview
- Purpose and impact of compensation plans
- Alignment with organizational strategy
- Compensation Pitfalls
Compensation Practices and Analysis
- Compensation related policies
- Internal and external equity
- Benchmarking and market analysis
- Designing and adjusting pay scales
- Adjusting for hard to fill positions or economic climate
- Job analysis and evaluation
- Variable pay and incentives
- Link to engagement, employee development , succession
- Generational impacts
- Determine key organizational compensation gaps and areas of consideration
- Key compensation dos and dont's
This is a module in the Human Resource Professional Program.
- Examine current compensation practices for achieving organizational effectiveness
- Gain a better understanding of how compensation strategy and practice needs to align with all areas of human resource management including overall employee engagement, employee development, and succession efforts
- Learn how to compare a total compensation package to relevant market comparators
- Know if an organization needs to lead, lag, or meet market average in terms of its compensation strategy
- Identify key areas to include in an organizations compensation plan
- Analyze key aspects of your organizations compensation practices and plan
- Identify compensable factors that your organization requires in its positions through job analysis
- Identify a compensation strategy and plan to attract and retain key talent
- Understand how to determine if your organizations compensation plan is market competitive based on your industry and size
Who Should Attend
HR professionals, leaders, people managers, small business owners from any industry sector.
Heather Peters is a Senior Consultant and the NL Practice Lead for Leadership, HR and Career Solutions at Knightsbridge Robertson Surrette. An insightful leadership coach, solutions-driven human resources consultant and energetic and engaging facilitator, Heather has helped hundreds of leaders and professionals engage teams and organizations in Canada and beyond.
As a Senior Consultant and Coach, Heather can easily switch hats to deliver distinctive employee, team, leadership, career and HR solutions. She attributes this ability to over 20 years in leadership, entrepreneurial and strategic HR roles in the insurance, IT, human resources, healthcare and financial industries. Heather's hands-on business and organizational experience helps her connect with her clients and create long standing relationships based on trust and exceptional service. Heather works mainly in the areas of Performance Management, Organizational Development, Compensation, and Policy, Leadership and Team Development, Succession Planning, Change Management and Career Transition.
Heather is passionate about learning and has completed her Master of Employment Relations (MER) from Memorial University, a Bachelor of Commerce (B. Comm.) from the University of Ottawa, is a Certified Coach (ACC) with the International Coach Federation (ICF), and is an Advanced Certified HR Professional with IPMA (IPMA-ACP). This commitment to life-long learning, coupled with in the trenches experience, allows her to translate academic theory into relevant, impact driven solutions for her clients and also her students as a part-time instructor with the Faculty of Business at Memorial University.