COMPENSATION AND PAYROLL MANAGEMENT

“I learn to be content. But the doctrine of compensation is not the doctrine of indifference.” Ralph Waldo Emerson

RATIONALE

Compensation is the remuneration received by an employee in exchange for his or her labour or contribution to the organization’s goal attainment. Compensation is a valuable tool in the hand of the employer to engender performance, productivity, and even discipline. However, if not properly managed, the company’s payroll could escalate and eat up into revenue in such a way that there won’t be any profit to declare.

LEARNING OBJECTIVE

To espouse strategies that will make compensation a motivational tool and ensure that all payroll incidences are managed in such a way that profit and performance will not be compromised.

TRAINING OUTLINE

PAYROLL STRUCTURE, DESIGN, AND MANAGEMENT

  • How to structure payroll and remuneration package
  • How to achieve job role, salary structure, and position differential
  • E-payment major issues and consideration
  • Payroll outsourcing and management

UNDERSTANDING THE IMPACT OF COMPENSATION ON TAXATION

  • The Impact of minimum wage Acts on the organization’s pay structure and tax
  • Compliance and standardization of wages
  • Salary determination and tax consideration
  • Payroll restructuring, employment contract, and accounting

HOW TO USE COMPENSATION AS A MOTIVATIONAL TOOL

  • Linking pay to performance
  • Pay and performance improvement strategy
  • How to use Incentive pay, bonuses and profit sharing in achieving a higher level of performance
  • Understanding the position of the Nigerian Labour Law on Salary deduction and pay cut

HOW TO ACHIEVE A STRATEGIC PAY STRUCTURE

  • How to determine a competitive pay structure
  • How to carry out an industry salary survey
  • How to determine and structure entry level and all scale pay structure
  • Management and executive pay structure

BENEFITS

  • How to structure the payroll without falling short of the statutory provision and tax regimes
  • How to use compensation as a tool for workforce performance and motivation
  • How to manage escalating salary demand without infringing on wage law
  • A proper understanding of the minimum wage law and its implementation

LEARNING METHOD

  • Expert knowledge in wages and salary management
  • Rich examples and references to best practices
  • Classroom participation and interaction

WHO SHOULD ATTEND?

Human resource managers, payroll administrator, accountants, outsourcing companies, tax consultants and anyone who desires to know more about compensation and payroll management.

DURATION:                 2 Days (9 am – 4 pm each day)

OTHER DETAILS:     See page 1 of this brochure for information on dates, venue, and fee.