Your annual salary review is approaching fast. It is the most stressful process you have to manage each year as a C&B manager or specialist. Give yourself an early Christmas present and attend the best and only course specifically designed to prepare you for this project, and make this your best salary review ever.
Are you ready to:
- Apply effective project management for the salary review?
- Recommend a salary budget for merit, promotion and other increase types?
- Update salary ranges for the coming year?
- Calculate compa-ratios for countries and employees?
- Develop a salary increase guideline based on compa-ratio and performance rating?
- Define/facilitate the manager input process using Excel or other HR technology?
- Prepare and manage review data including consolidation and approvals?
- Support effective communication of salary review outcomes?
All C&B managers must have competence in all eight areas. These are the learning objectives for this masterclass.
I invite all C&B managers or others involved in running the annual salary review / annual increment process, to attend Compensation 201: Manage the Annual Salary Review, on Thursday, 14 December, offered by Singapore National Employers Federation (SNEF). Consider this boot camp for first-timers, and a “mandatory refresher” for those of you who have done it before and probably have some room for improvement. (There is always room for improvement in this process!)
This class was packed in Hong Kong on 2 November, and some suggested the class be expanded to 2 days. But C&B people have so much work to do—preparing for salary review—it is my opinion few could take 2 days for a class this time of year.
I’ve been managing salary reviews since the 1990’s, and as recently as 2017 for a European MNC with 11,000 employees in 18 countries. In my last corporate role, I ran the global process for InterContinental Hotels group, involving 120 countries and 22,000 employees. I’ve used Excel as well as 3rd party software, as well as WorkDay. I will teach using Excel, and you will receive Excel templates for:
- merit matrix costing—you can fill in the %’s to see how much budget you will spend, based on your population, their salaries, performance ratings and compa-ratios). All the lookup formulas are built in.
- manager input—you can modify this for your organization, for use by managers to input their salary increment decisions, (or promotions or bonuses) and track their own budget consumption. Complete with lookups, multi-currency conversion and primary-currency budget summary.
You will also receive a sample salary budget summary template in PowerPoint, which you can use to present your salary budget recommendations, especially if you now have market data to support final tweaks to your preliminary budgets. We will discuss catch-up budgets: when and how to request them, and how to allocate and manage them.
To register, contact Darren Lim at SNEF, at darren_lim@snef.org.sg, or email me at tfarmer@freelancetotalrewards.com.
Disclaimer: I cannot guarantee you will be happy with your own salary adjustment…
Hope to see you on 14 December!