Rewards (Compensation & Benefits)

Programme Code: CRS-Q-0025764-HR | This module is part of HR Graduate Certification

Overview

Staff costs constitute the largest single expense item for most organisations. Faced with an increasingly competitive marketplace, shrinking margins and mounting budgetary pressures, one of the key challenges for organisations is: how do we extract maximum value, and achieve optimal effect, from every dollar spent on staff? A significant part of the answer lies in having a comprehensive Rewards framework, aligned to corporate goals and values, integrated with the wider HR platform, and effectively managed with the objectives of driving performance and strengthening employee engagement.

This module has twin goals: to provide a comprehensive understanding of the conceptual basis for effective Rewards frameworks and programmes (with emphasis on Compensation and Benefits), and impart an appreciation of the practical issues and considerations to be borne in mind when introducing Rewards interventions in real-world settings. Themes explored will include alignment, integration, engagement, ownership and communication.  The setting will be interactive and experiential, and participants will have the opportunity through hypothetical case studies to apply learning acquired.

Next Course Starts On18 Feb 2019 (Mon) See Full Schedule
Fee SGD1712.00* (as low as SGD113.60* after maximum funding) Learn more
Duration

2 days

Level
Basic
Venue

Singapore Management University

Learning Objectives

By the end of this 2-day module, participants will:

  • be able to demonstrate an understanding of key Rewards concepts and principles.
  • have acquired a practical approach for the design of Rewards frameworks and programmes.
  • understand how Rewards interventions can be integrated with other HR solutions to enhance employee engagement and ultimately impact business performance.
  • have acquired an appreciation of key success factors in Rewards practice.

Work towards a bigger goal

This module is part of:

HR Graduate Certification

Learn more

Topics/Structure

  • Rewards and the Employee Value Proposition
  • Components of an Effective Total Rewards Framework
  • Designing a Rewards Programme
  • Rewards in Practice – Common Pitfalls, Myths and Misconceptions about Compensation
  • Principles for Effective Rewards Practice

Who Should Attend

Pre-requisites

  • A degree from a recognised university
  • Minimum 1 to 2 years working experience
  • A HR practitioner in a private or public sector organisation or a business executive with formal training (degree) in OB/HR

Participants’ Profiles (Intake 1 to 9)

Assessment

There will be a variety of assessments for each module which include, but not limited to presentation, written assignment, class exercise, case studies analysis, peer evaluation and individual written assessment.  Every module will definitely come with an individual written assessment at the end of class.

Certification

For each module, participants have to meet a minimum attendance rate of 75% and are required to complete the assessments.  Only upon passing of the assessments and successful completion of each module, will participants be issued a Certificate of Completion.

In order to be awarded with the HR Graduate Certification, participants are required to complete all 6 modules within 2 years.

Learning Activities

Aside from the seminar styled teaching method used in class, there will also be extensive use of experiential learning methods to put into practice the theories that have been learned. Normally, such learning activities will be done in groups.  Every time that you are required to do work in a group, you will be randomly assigned so that opportunities will be created for you to know your fellow classmates for the purposes of networking plus observing their participation and contribution in class.

Participation is a central part of the learning process for all participants. When you contribute, you help others learn. Your participation mark reflects your contribution to your classmates’ learning. This includes attendance, being prepared with regards to the reading assignments, participation in all the learning activities and class discussions.   All participants will be expected to evaluate their classmates and contribute to the class participation assessment at the end of the module via way of peer assessment.

Fees and Funding

FULL FEE S$1,712.00* per person

For Singapore Citizens / Permanent Residents

Fee payable to SMU AFTER 70% SSG FUNDINGS$513.60* per person

FOR SINGAPORE CITIZENS AGED 40 YEARS & ABOVE

Fee payable to SMU after 70% SSG FUNDING & 20% SkillsFuture Mid-Career Enhanced SubsidyS$193.60* per person
For Singapore Citizens aged 35 years & above (13 years & above for Persons with Disabilities) earning a monthly income of not more than SGD2,000Fee payable to SMU after 70% SSG Funding & 25% Workfare Training Support SchemeS$113.60* per person
For SMEs* sponsoring their employees who are Singapore Citizens / Permanent ResidentsFee payable to SMU after 70% SSG Funding & 20% Enhanced Training Support for SMEs (Please refer to below for ETSS criteria)S$193.60* per person

*incl. 7% GST

The above mentioned fees and funding are applicable to intakes 10 and 11.
 

Fees include:

  • tuition
  • course materials
  • instructor's fee
  • 2 tea break refreshments per day (excl. lunch) during the module
  • 1 assessment per person for each module.

Re-assessment fee at SGD481.50 (incl. 7% GST) per attempt, up to a maximum of 2 re-assessments per person for each module. Please note that re-assessment fee is not supported by the SSG Funding.

The first re-assessment has to be taken within 2 weeks after the notification of result. The first re-assessment will be held on a weekday specified by SMU Academy and conducted from 6.30pm to 8.30pm.

SkillsFuture Credit

Singapore Citizens aged 25 and above, and self-funding may use their SkillsFuture Credit (up to SGD500) to defray part of the course fee.  With effect from 19 May 2017, SkillsFuture Credit claim will only be paid directly to the training provider from SkillsFuture Singapore.  Claim should be submitted via the Training Exchange (click here) and SMU Academy has to be informed on the Claim ID no. and claim amount in order for the correct payable course fee amount to be reflected on the invoice.  Please click here for the User Guide on how to claim for SkillsFuture Credit.

Absentee Payroll

Companies who sponsor their employees for the programme are eligible to apply for absentee payroll via the SkillsConnect system.  For more information, please visit SkillsConnect.

Enhanced Training Support for SMEs

SMEs must meet all of the following criteria:

  • Organisation must be registered or incorporated in Singapore
  • At least 30% local shareholding by Singapore Citizens or Singapore Permanent Residents
  • Employment size of not more than 200 (at group level) or with annual sales turnover (at group level) of not more than SGD100 million
  • Trainees must be hired in accordance with the Employment Act and fully sponsored by their employers for the course
  • Trainees must be Singapore Citizens or Singapore Permanent Residents
Union Training Assistance Programme (UTAP)

All NTUC union members and self-funding are eligible for UTAP funding (up to SGD250 per annum).  Please click here for more information on UTAP and application. 

Schedule

Start Date(s)
Intake Information
Intake 1013 to 14 August 2018 (Day 1: 9.00am – 5.00pm; Day 2: 9.00am – 6.00pm) Fully Subscribed
Intake 1118 to 19 February 2019 (Day 1: 9.00am – 5.00pm; Day 2: 9.00am – 6.00pm)Fully Subscribed

Speaker/Trainer Bio

LEE BOON CHUAN 
Senior Advisor, Transitions Advisory
Adjunct Faculty of OB & HR, Lee Kong Chian School of Business, SMU

Boon Chuan is a senior advisor at Transitions Advisory, a highly specialised provider of strategic HR services to clients within the region. Prior to this, Boon Chuan was the Senior Vice President for Executive Compensation at Fullerton Financial Holdings (FFH), a wholly-owned subsidiary of Temasek Holdings and a holding company for many of Temasek’s investments in the financial services sectors of developing markets. Apart from on-going development of FFH’s own rewards strategy, he served as an in-house advisor for the FFH group’s investee companies, comprised of both listed banks as well as start-up finance companies. In this role, he assisted in the establishment of compensation structures and advised the HR teams and boards on executive compensation matters including annual and long-term incentive programmes. His career includes almost 10 years with Deutsche Bank AG, where he last served as Director and Regional Head for Rewards for the Asia Pacific region during a period of significant growth. He led a regional team based in Singapore, Tokyo, Hong Kong and Sydney, supporting all business and enabling functions operating in 17 jurisdictions. Boon Chuan is a qualified lawyer by training and holds an LL.B (Hons) from the National University of Singapore and a Masters in Human Resource Management from Rutgers, the State University of New Jersey.

Additional Details

Singapore Workforce Skills Qualifications (WSQ) Accreditation

This module incorporates the Statements of Attainment (SOAs) awarded under the WSQ system for the following Human Resource WSQ modules:

  1. Develop and Implement Grading and Salary Structure (HR-PRB-401E-1)
  2. Implement and Evaluate Remuneration Processes (HR-PRB-402E-1)

WSQ Course Reference No.: CRS-Q-0025764-HR


Programme Registration

Registrants are required to submit the following supporting documents via the registration system at the point of registration:

  1. Degree certificate (scanned copy); and
  2. Updated Curriculum Vitae (stating HR work experience)
  3. Any other supporting documents e.g. company's recommendation letter


Waiting List: From time to time, seats in current or upcoming intakes may be opened up. Please email cps@smu.edu.sg your (i) full name, (ii) job designation, (iii) company name, (iv) contact no. and (v) intake (all modules) / selected module(s) & class dates, as well as all the following documents, to be registered on our waiting list.

  1. Degree certificate (scanned copy); and
  2. Updated Curriculum Vitae (indicating HR work experience)

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