This practical two-day workshop will provide you with an opportunity to learn how to ensuring that your pay structures support your organizational goals. Furthermore, it will teach you how to structure packages and remain tax compliant.
Key highlights of the workshop
- Defining Total Guaranteed Packages
- Providing you with package structuring options
- Looking at executive remuneration packages
- Discussing changes to Tax laws effective from 1 March 2010
- Learning how to calculate and structure pay packages in a legal and tax efficient manner
- Selecting Suitable Fringe Benefits – what is appropriate and reasonable
- Knowing what tax penalties SARS could impose for non-compliance
WORKSHOP OUTLINE
ALIGNING YOUR REMUNERATION POLICY AND STRATEGY WITH BUSINESS STRATEGY
- Looking at how remuneration policy fits into business strategy
- Understanding the “gap” between current practice and desired strategy
- Providing you with tools to position your remuneration policy in such a way that it supports business strategy
- Measuring and ensuring that contributions are rewarded when they realize business goals
- Modifying your remuneration policy during periods of growth and development
TOTAL GUARANTEED PACKAGE
- Understanding how total guaranteed packages work
- Looking at what falls within the definitions of total guaranteed packages
- Understanding the risks and costs associated with it
- Looking at the latest trends and advantages
IDENTIFYING WHAT PACKAGE STRUCTURING OPTIONS ARE AVAILABLE
- Looking at available fringe benefits and the tax implications thereof
- Selecting suitable benefits that are appropriate and reasonable
- Understanding tax risk implications associated with adopting unsuited salary structures
- Ensuring that your remuneration packages legally compliant with SARS rules
- Maintaining these structures in a continuously changing business and tax environment
SARS AND PAY STRUCTURING
- Looking at how SARS views “salary” structuring
- Providing an overview of the legal components of a total pay package
- The Don’ts of Salary Structuring
- Knowing the tax penalties are imposed for non compliance
TAX CHANGES EFFECTIVE FROM MARCH 1 2010
- Looking at the Tax changes
- Examining the impact of these changes on the Employer and Employee
- Touching on the current rules of Travel and Medical Aid Allowances
- Discussing the reasons to these amendments
JOB MATCHING
- Understanding the aim of job matching
- Knowing the advantages associated with job matching with reference to external competiveness, internal equity and turnover costs
- Discussing the process of job matching
SETTING PAY LEVELS – UNDERSTANDING REMUNERATION SURVEYS
- Why use market surveys
- Statistics and definitions
- Club and surveys
- Published surveys
- Other sources of pay data
- Example layout of surveys – club and published
SETTING EXECUTIVE PAY STRUCTURES
- Linking Executive performance to pay
- Looking at tools available in formulating executive salary structures
- Examining the corporate governance aspects of executive remuneration
- Considerations in setting CEO pay
About your expert presenter
Hennie Gildenhuys
Executive Consultant
21st Century Pay Solutions Group
Hennie has a B. Com. (Accountancy) from UP as well as an Honours. B.Compt and a Certificate in the Theory of Accounting from UNISA. He obtained a Post-graduate Certificate in Management from the Graduate Institute of Management and Technology, with distinction.
He started his career in Finance and gained valuable experience in the Audit profession and in the corporate world. During his career Hennie has worked for large and small organisations across various industries. Later in his career he switched to Remuneration management and managed the remuneration function, including payroll for several large organisations.
During his consulting career Hennie has developed and implemented reward strategies and monitored labour market trends for many years. He has obtained a wealth of experience across various industries in the Private- and Public Sector and has made valuable contributions to a number of organizations ranging from large to small.