Gain leaders trust to sharpen the human capital agenda. Navigate across contexts to create tangible impact

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Cynthia Houston
5 years ago
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4 Gain leaders trust to sharpen the human capital agenda Navigate across contexts to create tangible impact Understand business imperatives, connect people initiatives

5 Alumni refer someone for an AHLC course Flagship certificate courses for HR professionals Is the median participant experience Bespoke HR capability journeys for organizations Alumni feel empowered to drive business results HR leaders are a part of our alumni community HR professionals have received training via our courses

6 Comprehensive Assessment Assignment Learning Lab Online Discussion E-Learnings Registration

8 Benefits are forms of indirect or non-wage compensation, conceptualizations that are principally useful for accounting and tax purposes. They promote job satisfaction and increase organizational commitment Become an employer of choice 43% employees picked an employer offering extra benefits Reduce attrition 55% employees are likely to look for other work if benefits are reduced Tax benefits 27% tax rebate can be attributed to pension schemes Reduce fixed costs 76% have been able to revise their total cost based on employee benefits Employee Morale 66% employees said benefits reduce worry of future unplanned expenditure Increase engagement 80% employees said flexible work affected retention positively *Source: Aon Hewitt Benefits Study 2015 Insights & Perception

9 Insurance liberalization leads to group health and accidental plans Cost constraints end defined benefits pension schemes Increased focus on compensation causes rapid salary increases Car and housing benefits heavy on administration, replaced with HRA and car allowances Inclusion of traditional benefit like gratuity and provident fund Supplementary schemes like defined pensions offered Large organizations move towards car and housing facilities No significant differentiation in benefits High benefits costs puts focus on optimization, employee perception, outsourcing benefits Limited flexibility introduced in insurance schemes Innovative policies around time-off, health and wellness introduced The National Pension Scheme evolves for retirement savings

Low Utilization High Utilization Company Experiential Retirement Health Insurance Paid time-off Lifestyle Miscellaneous Health care Medical Insurance Retirement Pension

Allowances Telephone Reimbursement Meal Allowances Insurance Benefits Health & Wellness Executive Education Insurance Utilities Financial Assistance Concierge Service

10 Low Utilization High Utilization Company Experiential Retirement Health Insurance Paid time-off Lifestyle Miscellaneous Health care Medical Insurance Retirement Pension Savings Plans Wellness Health Assessments Wellness Screening Work/Life Time Off Flexible Work Personal Financial Medical Allowances Conveyance Allowances Leave Travel Allowances Telephone Reimbursement Meal Allowances Insurance Benefits Health & Wellness Executive Education Insurance Utilities Financial Assistance Concierge Service Gym Memberships Company Leased Vehicle Company Leased Accommodation Hard Furnishing Allowance Recognition platforms Childcare Travel / Holidays Medical Facilities Education

11 Governance mechanism for stakeholders Market prevalence and competitiveness Employee perceived value of benefits Elements which will create the organization s brand Financial value and cost for each benefit Plans to maximize tax savings Statutory regulations and amendments Global atmosphere and strategy

12 Evaluate impact of CVP to refine communication Communication Governance Input Align CVP and EVP Information Strategy Customer Value Proposition (CVP) Employee Engagement Employee Value Proposition (EVP) Total Rewards Communication Embed differentiated EVP to rewards strategy Brand Communication Vehicles Use targeted communication to increase engagement Messaging

13 Fixed Structure Tax Efficent Fixed Structure Flexible Structure Rigid employers Evolved Employers Organization s Funding Principle Sufficiency of Funds Target size of the Fund Level of Contributions over time Growth of the Fund

14 8-12 weeks Assessment of organization s readiness for Flex Benefits 8-10 weeks Design decisions on benefits budget & cost impact projections Core Benefits Required by law Mitigate risk of poor selection Optional Benefits Selected by employee choices Choices made annually Flex Credits Defined contributions approach Differentiated fixed amount of Flex Credits given 6-8 weeks weeks Configuration of system requirements and user testing Defining target audience; communication plan and material

15 Build Awareness to highlight importance Analyze current level of financial wellbeing Option to choose Fund Manager Voluntary Defined Contribution Plan Wide Coverage Formidable governance Design and launch support programs Flexible investment options Robust structure Continuous support and communication

17 Strategy Design Governance Communication Flex Benefits Differentiated Benefits Final Assessment Day 1 Day 2 Assessment Learning journey spanning across four contact classes and a comprehensive online assessment Online Learning Modules* Online Discussion Boards* *Active for one year

18 Final Assessment Assignments Class Participation E-Learnings Online Discussion Final Assessment can only be taken after attending all six modules Minimum 50% is required in the final assessment At least 50% aggregate score is required to complete the certification

19 Strategy Plan the benefits strategy of an organization Objectives Integrate and articulate benefits into the total rewards strategy Explore the bucketing of different types of benefits: health, insurance, retirement, paid time-off and lifestyle Articulate the organizational perspective towards employee benefits Understand the drivers of a benefits strategy in an organization Outcomes Appreciate the linkages of the benefits strategy with other tenets of total rewards Comprehend the business considerations while deploying benefits Understand the classification of benefits, associated legislation and market approach to each Calibrate drivers to influence the benefits strategy of an organization

20 Design Calibrate different design considerations Objectives Deep dive into design considerations while planning a benefits strategy Analyze benefits to focus on organization philosophy, talent strategy and market prevalence Understand cost escalation drivers and cost control measures while implementing various benefits Outcomes Develop review mechanism for benefits strategy Calibrate benefits strategy to suit organization s talent priorities Conduct market benchmarking exercise for benefits: choose appropriate comparators Compute financial implications of instituting a benefits policy Design a benefits policy aligned with employee preference

21 Governance Manage taxation, trust fund and enablers Objectives Understand tax implications and impact of statutory regulations in the benefits policy Understand the policies of trust governance and fund management Explore technology as an enabler in the benefits implementation strategy Manage service partners and outsourcing options to broker a benefits plan Outcomes Design benefits plans to maximize tax savings for employees and organization Identify key considerations and legal intricacies in managing trusts Update disbursement plans through impact of technology in benefits implementation

22 Communication Execute effective communication plans Objectives Evaluate the characteristics of effective communication: listening and communicating to employees Understand mechanisms to develop listening strategy Plan communication campaign, key focus areas and considerations Conduct employee preference surveys on benefits offered and analyze the perceived value of benefits offered Increase awareness and utilization through improved total rewards statements Outcomes Calibrate effective frequency of benefits communication to employees Investigate effective mix of different communication channels Educate employees on benefits offerings to improve the perceived value of benefits Cascade demographic specific benefits communication Implement effective total rewards statements

23 Flexible Benefits Comprehend and implement flex benefits Objectives Explore the design features needed to implement a flexible benefits plan Understand expectations of different employee demographics from a flexible benefits plans Analyze the feasibility of implementing flexible benefits Determine the plan type for your organization: traditional, modular or full flexible Optimize plan costs and employee preferences to increase ROI Examine the opportunity to flex different sub types of benefits Outcomes Build capability to execute a flexible benefits plan Design the flexible benefits approach: feasibility study, plan phase, implementation, communication Assess organization s readiness to implement flexible benefits Design ongoing administration strategy for a flexible benefits plan

24 Differentiated Benefits Build awareness on benefits disruptors Objectives Understand the need, utilization and design of financial wellness plans Analyze the impact of the National Pension Scheme on retirement benefits Build awareness on new practices in health, retirement and lifestyle benefits in different organizations Outcomes Design and implement financial wellness plans Anchor the shift from gratuity and superannuation to NPS Design differentiated benefits plans to build on the employee value proposition of the organization

26 Anandorup Ghose leads Aon s Rewards practice for South Asia. Prior to this role, he managed several client relationships in the Middle East, Asia Pacific and India in the areas of executive compensation design and benchmarking, long term incentive plan design, sales incentive plan design, governance structure definition, remuneration committee advisory etc. Moreover, he has also worked on some large scale merger integration projects with clients in the region, primarily in the field of telecom, financial services and oil and gas. His key clients include the Aditya Birla Group, Mahindra, Genpact and Tata Consultancy Services. Anandorup is a regular speaker at several executive compensation forums in industry associations such as All India Management Association, FICCI, and Anchorage Society for Human Resource Management. He is ardent reader of The Economist and whenever time permits he loves to travel and experience new cultures. Anandorup Ghosh Dean, Aon Hewitt Learning Center Anandorup's Mantra Culture eats strategy over breakfast Peter Drucker

Vishal has also advised Indian clients on wider employee benefits issues covering benefit designs, market benchmarking, DB to DC conversions, vendor selection, employee benefits perception surveys,

27 Vishal is a Senior Consultant in the Retirement and Investment Practice at Aon India based in Mumbai. He has more than 9 years of experience within the Retirement and Employee Benefits consulting space. Vishal has also advised Indian clients on wider employee benefits issues covering benefit designs, market benchmarking, DB to DC conversions, vendor selection, employee benefits perception surveys, flexible benefits, total reward statements and has also assisted newly formed companies in India set up their benefit plans and their overall benefits strategy. Vishal has worked on large projects related to the designing of Pension and other long term employee benefits plans covering areas such as liabilities and risk assessment, impact of changes with related financial, compliance, administrative and employee implications and conducted HR due diligence and participated in the harmonization of employee benefit plans for mergers and acquisitions in India and South Asia Vishal has completed his B Com (H) from Shri Ram College of Commerce, Delhi University. He is also a fully regulated member of the Institute of Actuaries of India and the UK and is close to attaining Fellowship qualification. Vishal Grover Senior Consultant, Retirement and Investment Vishal s Mantra Price is what you pay, value is what you get Warren Buffet

He also leads the technical side of share based compensation for Aon in India and works extensively in the areas like fair value calculation for share based compensation programs for grant size and

28 Anubhav leads Aon s Executive Compensation and Governance practice in South Asia. He has been working in this area for more than 12 years and specializes in designing long term stock and cash based incentive programs, executive pay benchmarking and structuring. He also leads the technical side of share based compensation for Aon in India and works extensively in the areas like fair value calculation for share based compensation programs for grant size and expense determination under Indian GAAP, US GAAP and IFRS. Anubhav has worked extensively in the area of Executive Compensation across industries like manufacturing, BFSI, IT/ITES, Pharmaceuticals and FMCG. He works closely as a consultant to Nomination and Remuneration Committee of the Board for number of companies and advise them specifically on executive compensation and long term incentives matters Anubhav also works with Nomination and Remuneration Committees on defining the evaluation process for the Board, Committees and Directors, articulation of remuneration philosophy for Directors, Key Managerial Personnel and Senior Management Anubhav Gupta Director, Executive Compensation and Governance Anubhav's Mantra Keep it simple

30 Learning Center Classroom sessions 16 hours Course Calendar Click to view Terms & Conditions Click to view Online Discussion Board Active for one year Participant Handbook Pre-reads 10 hours Certification Aon Hewitt Certified Benefits Professional Connect with us Course Fee (inclusive of taxes) 45,000 Participation will be confirmed post payment

31 Aon AHLC Inquiry Mailbox: Amit Kumar:

Certified Benefits Professional

Certified Benefits Professional CONTENTS #1 Point of View Learning Anchors #3 Architects Learn from our Best Consultants #5 Learning Promise Quick Snapshot Learning Experience #2 Course Curriculum Program