Employee remuneration is one of the most vital components of organizational effectiveness (citation). Remuneration costs are a substantial amount of most companies’ cost based and are continuously rising. According to a research by UK accountant UHY Hacker Young, employers across the world pay other employment costs worth nearly 25% of employee salaries (on average). At the same time, most companies do not have an effective compensation scheme. This causes employees to lack motivation and to do the bare minimum in performing their responsibilities (citation).
On the other hand, some businesses also face the challenge of keeping total costs down in their organizations. For example, in Indonesia, a forecast inflation of around 4.2% – 4.3% in 2017 (per Trading Economics and Statista), will result in increasing costs in the coming year.
This means that organizations need to urgently transform their businesses specifically in two key areas: i) employee motivation & compensation and ii) business costs.
In the first of five Corporate Refresher Series, titled “Business Transformation, Effective Compensation, and Cost Management, we will explore three specific topics that are integral to ensuring business agility and competitiveness, motivating employees to work hard and work smart, and keeping business costs under sustainable control.
We will discuss in detail each topic and the key takeaways for each topic that we explore in this series:
BUSINESS TRANSFORMATION Description
This course provides insights to business leaders on the importance of Business Transformation for a company’s strategy and vision. We will look at the benefits and risks of changing business and operating models. This will be followed by an overview of managing business transformation projects for companies.
- Identify when your business needs transformation
- Learn how to initiate change and transformation
- Manage the transformation process and achieve desirable outcomes andsuccess
EFFECTIVE COMPENSATION Description
Together we will explore the various forms of employee remuneration schemes that are commonly used by organizations globally. The goal is to ensure that compensation acts as a motivating tool to drive job performance and organizational outcomes. Specifically, we will analyse base salary pay, stock options, performance related pay, bonuses and commission, and perks and benefits.
- Know all the different forms and schemes of employee compensation
- Analyse which form of remuneration best fits your organization
- Create, implement, and manage effective pay systems for employees
As mentioned in the introduction, costs are a big part of most businesses and managing it will be key to long term success. We will cover areas where leaders can focus on reducing costs, which will be useful especially in a competitive business environment. It is crucial to execute cost management in a controlled manner to ensure the future growth of the business.Key Takeaways
- Benefits of cost management
- Planning for long term cost management
- Mitigating any negative impacts of cost reduction
$ 500,- Course only
$ 700,- Course with stay package (1 night stay)
Early Bird (Register dan Paid before 03 Aug 2017)
$ 800,- for two people (course only)
$ 1.200,- for two people (course and stay package)
participant get : certificate, seminar kit, module (soft copy dan hard copy), coffee break, and lunch. (For full stay package get additional 1 breakfast and 1 dinner)
Registration closing on 7 Aug 2017, Payment should transfer to (one of these Bank) :
- Bank BTN, Cabang Cikini Rekening: 00054 01 30 0000 595; Atas Nama: Pusat Pengembangan Hukum dan Bisnis Indonesia.
- Bank UOB, Cabang Mangga Dua Rekening: 412 300 508 7; Atas Nama: PT PPHBI Indonesia
- Bank BCA, Cabang Sentral Cikini Rekening: 878 020 2298; Atas Nama: PT PPHBI Indonesia
*Course will running if the participant more than 25 people at 2 weeks before the course day.
What is Cognitio
Cognitio was incorporated in the United Kingdom (under the trading name “Cognitio Entreprise Ltd”) in early 2017. Cognitio comprises a faculty of business experts with the aim of giving our corporate clients valuable training programmes that are not only useful on paper, but practical in a real-world setting.
Cognitio was created on the premise that knowledge and experience are key to sustainable business success. Its founders (Dr Timothy Astandu and Adrian Chung ACA) met while studying at the London School of Economics. They are now working closely together to serve clients in United Kingdom and South East Asia.
After graduating from LSE, Timothy continued his education at Oxford and then Cambridge, where he graduated with a PhD in Leadership and Management Studies. He has taught in Cambridge at MBA and EMBA levels, and is currently an external lecturer at the Chair of Leadership and Human Management at WHU Otto Beisheim Business School in Germany. Timothy also sits as a member of the Board of Directors of a pulp and paper company based in Jakarta and is the co-founder of several start-ups.
On the other hand, Adrian entered the business world upon graduating and worked for various listed companies such as Barclays Bank and Deloitte, honing his skills in finance and business transformation/restructuring. In Deloitte, he ran training courses for the consulting team. Recently, he has been working for USA based advisory firms, advising clients including banks and private equity companies. He is also a chartered accountant with the Institute of Chartered Accountant in England and Wales.