Reward Benchmarking Training
This 1-day training is for all HR professionals that wish to build a good understanding of salary surveys, on how to work with them and on how to draw the right conclusions from a remuneration benchmark. The typical participant is someone that has limited experience with benchmarking and is accountable for analyzing salary surveys and benchmark data. (e.g. compensation and benefit professional, HR Manager, …).
The training is available to employees of organizations that already use the Korn Ferry salary surveys or are planning to start working with salary surveys in the future.
Experienced Korn Ferry experts will share valuable insights on how we organize our annual salary surveys, what a reward policy is and isn’t, what elements can (and should) be included in a reward policy, how you define salary increase mechanisms and many other topics. Exercises on assessing fairness of your reward systems and on building a correct benchmark will be coordinated in group so participants will feel confident afterwards to start analyzing internal practices and policies themselves.
This training will provide an answer to the following questions:
- What are the different stages of a salary survey and how is a remuneration market calculated?
- How does Korn Ferry deal with confidentiality?
- What are the different remuneration concepts and when to use which one?
- How to successfully execute a benchmark? Internal Equity Analyses, External Competitiveness Analyses including Base Salary and bonuses, Drawing the right conclusions on Total Cash benchmarks
- How to deal with Salary Movements & Forecast data (Budgeting)?
- How to choose the “right” reference markets?
- How to make cross country comparisons?
- How to deal with volatility & inconsistencies in market data?
- How to manage the salary review process?, Salary Increase Matrix and mechanisms
Note on cancellation
- Korn Ferry reserves the right to reprogram or cancel this training, in consultation with registered participants. Participants will be informed no later than one week before the training.
- Registered participants can cancel their participation up to one week before the training without costs. Full training fee will be invoiced for cancellations later than one week before the training.