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Quantitative Tools
for Human Resource
Practitioners (HRM103)
This
workshop does not only aim to equip you with the fundamental concepts
underpinning compensation and benefits management, but also the
quantitative tools that will help you translate concepts into practice.
Outline
Why is inflation a factor in the equation in managing compensation?
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What is Inflation?
- Consumer Price Index (CPI) as a measure of inflation
- Understanding and using CPI produced by Department of Statistics,
Singapore.
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What is Real Wage?
- Real wage as a measure of purchasing power
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Use of Index
Numbers (e.g. pegging fixed transport allowance to CPI)
How do you determine the Market Rate
of a Job?
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What do you mean by the market rate
of a job?
- Averages & Fractiles
- Reliability of average as an indicator of market rate
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How do you make sense of market
salary surveys published by survey providers such as SNEF, Hay, RDS
and Watson Wyatt?
Constructing Salary
Structure
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Types of salary
structure
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Understanding
common issues like range ratio or spread, midpoint, overlap, number
of pay grades, policy lines and their relevance to construction of
salary structure
- Broad banding and its implications
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Developing the pay
structure
- Job evaluation
- What is job worth?
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Impact of
flexi-wage system recommended by Singapore tripartite body
Administering Salary Structure
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Guide to pay
adjustment
- Profitability, liquidity, individual performance, compa-ratio,
market forces, etc
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Developing pay grid
to reflect criteria for pay adjustment and budgetary constraint
Benefits Administration
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Why would you want
to provide benefits in the first place?
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Useful formulae for
loan administration
- How do you determine employee's eligibility for loan (simple/
compound interest)?
- How to determine the repayment amount, repayment period etc
- Can the formulae help you to establish your loan policies?
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Why would companies
go into flexi-benefits (buffet) plan?
Methodology*
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Illustration complete with teasers to help you understand the
conceptual and technical aspects of the subject
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Dialogue/ exchange of real life problems
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Mini-case study
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User-friendly workshop materials
*Scientific
calculator required
Date
To be confirmed
Duration
2 days (9am-5pm)
Venue
SHRI,
The Verge, Level 6
Fees
|
SHRI Member |
S$890.00 |
|
SHRI Corporate
Friend* |
S$935.00 |
|
Non-Member |
S$995.00 |
All fees quoted exclude 7% GST. *Non-nominees
For further information, please contact Ms Canny Jeo via phone (65) 6438
0012, fax (65) 6299 4864, or email
canny@shri.org.sg
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