Position yourself for a successful future in FM.
Enroll in Estidama FM Training Center’s FMP® Course
Estidama FM Training Center now offers the IFMA FMP Credential Program™ course(s) to help early to mid-career and transitioning facility management professionals gain the knowledge and skills demanded by today’s employers and earn the FMP credential.
Instructor-led Courses
Estidama FM Training Center is offering a series of four FMP courses, based on the IFMA FMP Credential Program, over one week from 25-29 September 2016.
Snapshot of FMP- Facility Management Professional MasterClass in Saudi Arabia:
Course Duration: 5 Days.
Class Time: 8:30 am to 5:00 pm
Venue: Holiday In Meydan Hotel, King Fahd Road, Riyadh, Saudi Arabia
Introduction1but the focus in this chapter is pay. they al.docxmariuse18nolet
Introduction
1
but the focus in this chapter is pay.
they all help maintain employee commitment
There are many work motivators, including
promotions
desirable work assignments
peer recognition
work freedom
Rewards Review
2
bonuses
piecework
commission
incentive
plans
merit pay
plans
cost of living
increase
labor market
adjustment
profit sharing
time-in-rank
increase
protection
Program
pay for time
not worked
services/
perks
assigned
parking space
preferred
assignments
business
cards
own
secretary
impressive
title
participation in
decision making
greater job
freedom
more
responsibility
opportunities
for growth
diversity
of activities
Financial
Non-financial
Extrinsic
Implied
membership-based
Performance
based
Explicit
membership-based
Intrinsic
Types of Reward Plans
3
intrinsic rewards (personal satisfactions) come from the job itself, such as:
pride in one’s work
feelings of accomplishment
being part of a work team
extrinsic rewards come from a source outside the job, mainly by management:
money
promotions
benefits
Intrinsic versus Extrinsic Rewards
Types of Reward Plans
4
financial rewards:
Financial versus Nonfinancial Rewards
nonfinancial rewards:
wages
bonuses
profit sharing
pension plans
paid leaves
purchase discounts
make life on the job more attractive; employees vary greatly on what types they like
Types of Reward Plans
5
performance-based rewards are tied to specific job performance criteria
commissions
piecework pay plans
incentive systems
group bonuses
merit pay
membership-based rewards such as cost-of-living increases, benefits, and salary increases are offered to all employees
Performance-based versus Membership-Based
Compensation Administration
6
An effective, fair compensation program:
Companies derive their compensation programs from job evaluation, which defines the appropriate worth of each job.
Both employees and employers
can research compensation
facts and issues at
www.salary.com
http://salary.nytimes.com/
http://www.salaryexpert.com/
attracts
motivates
Retains competent employees
Compensation Administration
7
The Fair Labor Standards Act requires:
minimum wage
overtime pay
record-keeping
child labor restrictions
exempt employees
include professional and
managerial employees
not covered under
FLSA overtime provisions
nonexempt employees
eligible for premium pay
(time and one-half)
when they work more than
40 hours in a week
Compensation Administration
8
Civil Rights Act:
broader than Equal Pay Act
prohibits discrimination on the basis of gender
used to support comparable worth concept
salaries established based on skill, responsibility, effort, and working conditions
Equal Pay Act of 1963 requires that men and women hired for the same job be paid the same.
Job Evaluation and the Pay Structure
9
Job analysis information determines the relative value, or rank, of each job in the organization.
Research wage information at
the Bureau of Labor Statistics
http://.
Position yourself for a successful future in FM.
Enroll in Estidama FM Training Center’s FMP® Course
Estidama FM Training Center now offers the IFMA FMP Credential Program™ course(s) to help early to mid-career and transitioning facility management professionals gain the knowledge and skills demanded by today’s employers and earn the FMP credential.
Instructor-led Courses
Estidama FM Training Center is offering a series of four FMP courses, based on the IFMA FMP Credential Program, over one week from 25-29 September 2016.
Snapshot of FMP- Facility Management Professional MasterClass in Saudi Arabia:
Course Duration: 5 Days.
Class Time: 8:30 am to 5:00 pm
Venue: Holiday In Meydan Hotel, King Fahd Road, Riyadh, Saudi Arabia
Introduction1but the focus in this chapter is pay. they al.docxmariuse18nolet
Introduction
1
but the focus in this chapter is pay.
they all help maintain employee commitment
There are many work motivators, including
promotions
desirable work assignments
peer recognition
work freedom
Rewards Review
2
bonuses
piecework
commission
incentive
plans
merit pay
plans
cost of living
increase
labor market
adjustment
profit sharing
time-in-rank
increase
protection
Program
pay for time
not worked
services/
perks
assigned
parking space
preferred
assignments
business
cards
own
secretary
impressive
title
participation in
decision making
greater job
freedom
more
responsibility
opportunities
for growth
diversity
of activities
Financial
Non-financial
Extrinsic
Implied
membership-based
Performance
based
Explicit
membership-based
Intrinsic
Types of Reward Plans
3
intrinsic rewards (personal satisfactions) come from the job itself, such as:
pride in one’s work
feelings of accomplishment
being part of a work team
extrinsic rewards come from a source outside the job, mainly by management:
money
promotions
benefits
Intrinsic versus Extrinsic Rewards
Types of Reward Plans
4
financial rewards:
Financial versus Nonfinancial Rewards
nonfinancial rewards:
wages
bonuses
profit sharing
pension plans
paid leaves
purchase discounts
make life on the job more attractive; employees vary greatly on what types they like
Types of Reward Plans
5
performance-based rewards are tied to specific job performance criteria
commissions
piecework pay plans
incentive systems
group bonuses
merit pay
membership-based rewards such as cost-of-living increases, benefits, and salary increases are offered to all employees
Performance-based versus Membership-Based
Compensation Administration
6
An effective, fair compensation program:
Companies derive their compensation programs from job evaluation, which defines the appropriate worth of each job.
Both employees and employers
can research compensation
facts and issues at
www.salary.com
http://salary.nytimes.com/
http://www.salaryexpert.com/
attracts
motivates
Retains competent employees
Compensation Administration
7
The Fair Labor Standards Act requires:
minimum wage
overtime pay
record-keeping
child labor restrictions
exempt employees
include professional and
managerial employees
not covered under
FLSA overtime provisions
nonexempt employees
eligible for premium pay
(time and one-half)
when they work more than
40 hours in a week
Compensation Administration
8
Civil Rights Act:
broader than Equal Pay Act
prohibits discrimination on the basis of gender
used to support comparable worth concept
salaries established based on skill, responsibility, effort, and working conditions
Equal Pay Act of 1963 requires that men and women hired for the same job be paid the same.
Job Evaluation and the Pay Structure
9
Job analysis information determines the relative value, or rank, of each job in the organization.
Research wage information at
the Bureau of Labor Statistics
http://.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
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Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
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Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
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LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
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This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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Gmb 6070 session 6 - june 13th (fil eminimizer)
1. Session 6 Strategic Reward and Compensation Systems 13th June '11 1 GMB6070 - SHRM FRANKFURTCLASS
2. Presentation Plan Deference between reward and compensation Strategic importance of compensation system Employee benefits and benefit programs Job evaluation Class group discussion tasks 13th June '11 2 GMB6070 - SHRM FRANKFURTCLASS
3. Remuneration System Compensation Reward Usually money Incentive to drive achievement Given for special service A satisfying return, result or profit Gratify It could also be something not given in retribution for inferior/evil activities Is a money value given in exchange for work performed Used to: Attract and retain talent Maintain morale or level of satisfaction Encourage peak performance Achieve equity – Internal/External Encourage loyalty Modify practices 13th June '11 3 GMB6070 - SHRM FRANKFURTCLASS
7. Strategic thinkingCommunication Team work Problem solving Coaching/mentoring Customer care Integrity/Honesty ICT Application Leveraging diversity Employee Benefits Labour Relations Job Evaluation Searching, attracting and recruitment
8. Strategic importance of compensation System Recruit and retain qualifies employees. Employer may need to adjust and respond to market forces. Morale and job satisfaction are affected by compensation levels. There has to be a balance between what the employer is willing to pay and what the employee feels she/he is worth and is indeed the market value worth. Use it to recognize exceptional performance – bonus pay, commission, stock, profit sharing, gain sharing 13th June '11 5 GMB6070 - SHRM FRANKFURTCLASS
9. Ensuring balance and stability in reward and compensation HRM should ensure: Development of job descriptions for every job holder Analysis of all jobs Evaluation of all benchmark jobs Banding, ranking and grading of all jobs Frequent salary surveys Development of policies, guidelines and other SOPs. 13th June '11 6 GMB6070 - SHRM FRANKFURTCLASS
11. Job evaluation Determine relative worth of jobs in the organization Verify by comparing with industry market data and adjust as may become necessary Prepare a matrix organizational review Prepare ranking Prepare a matrix organizational review 13th June '11 8 GMB6070 - SHRM FRANKFURTCLASS
12. Establish jobs that cross lines and departments (matrix reporting) Compare the matrix with data from both the company structure and the industry market realities Prepare flow charts of all ranks for each department for ease of interpretation and assessment. 13th June '11 9 GMB6070 - SHRM FRANKFURTCLASS
13. Present data and charts to the compensation committee for review and adjustment Determine grades Establish the number of levels, junior, intermediate and beginner for each job family and assign a grade to each level Determine the number of pay grades, or monetary range of a position at a particular level, within each department. 13th June '11 10 GMB6070 - SHRM FRANKFURTCLASS
14. Establish grade pricing and salary range Establish benchmark/key jobs Review the market price of benchmark jobs within the industry Establish a trend line in accordance with company philosophy – where the organization wants to be in relation to salary ranges in the industry 13th June '11 11 GMB6070 - SHRM FRANKFURTCLASS
15. Salary structure determination Determine the difference between each salary step. Determine a minimum and a maximum percent spread. Slot the remaining jobs. 13th June '11 12 GMB6070 - SHRM FRANKFURTCLASS
16. Salary administration policy Review job descriptions. Verify the purpose, necessity for maintaining the position. Review with the compensation committee for adjustment and mandate to roll out. 13th June '11 13 GMB6070 - SHRM FRANKFURTCLASS
17. Develop, document and communicate the general policy and execute Develop and document specific policies for selected groups Develop and document a strategy for merit raises and other pay increases, such as cost-of-living adjustment, bonuses, annual review, promotions Develop and document procedures to justify the policy - performance appraisal forms, merit raise schedule 13th June '11 14 GMB6070 - SHRM FRANKFURTCLASS
18. Executive approval for salary structure and roll out Develop and present cost impact studies that project the expense of bringing the present staff up to the proposed levels Present data to the compensation committee for discussion and approval Present data to the senior executive for buy-in 13th June '11 15 GMB6070 - SHRM FRANKFURTCLASS
19. Communicate the final program to employees and managers Present the plan to the compensation committee for feedback, adjustment, review and approval Make a presentation to the executive team and managers for approval or change, and incorporate necessary changes 13th June '11 16 GMB6070 - SHRM FRANKFURTCLASS
20. Develop a plan for communicating the new program to employees, using slide shows or movies, literature, handouts Make presentations to managers and employees then execute the program 13th June '11 17 GMB6070 - SHRM FRANKFURTCLASS
21. Design and develop detailed systems, procedures, and forms Work with HR information systems staff to establish effective implementation procedures, to develop appropriate data input forms, and to create effective monitoring report for senior managers. 13th June '11 18 GMB6070 - SHRM FRANKFURTCLASS
22. Have the necessary forms printed Develop and determine format specification for all reports Execute test runs on the human resources information system Execute the program 13th June '11 19 GMB6070 - SHRM FRANKFURTCLASS
23. Monitor the program Monitor feed back Adjust as necessary Identify challenges in the program and adjust accordingly 13th June '11 20 GMB6070 - SHRM FRANKFURTCLASS
24. Class group discussion tasks Eagles Synergy3 Team-Six Is job evaluation a value adding exercise or a academic waste of time indulgence. Critically review the question from strategic HR perspective. In an organization where there is an effective compensation structure, review why SHR people should concern themselves with developing rewards and benefits systems? Many SHR Directors benchmark best practices in developing compensation a compensation system. Develop a case for benchmarking HR best practices. 13th June '11 21 GMB6070 - SHRM FRANKFURTCLASS