As employers it is necessary to design attractive employment packages which can improve employees' quality of life, reward continued employment, promote loyalty and even distribute financial rewards. This is not always an easy task, as the reward system sought after is one which is equitable for both organisation and employee. Indirect compensation allows us to strike that balance and is therefore a crucial component of any good benefits package. There are many types of indirect compensation, such as: educational reimbursement, travel or transportation, health and wellness, recreation, family, savings etc. Compensation and benefits affect the productivity and happiness of employees, as well as the ability of an organisation to effectively execute its business plan.
This workshop focuses on indirect compensation of employees in an organisation; more specifically referred to as Pension and Benefits, and will introduce you to the key pieces of legislation governing pension and mandatory benefits in Trinidad and Tobago.
This workshop would be beneficial to:
- Human Resource Professionals (Managers/Executives/Practitioners/Consultants)
- Labour Relations Professionals
- Business Owners
On completion of this workshop, participants should be able to do the following:
- Describe and explain the impact of demographics on retirement funding.
- Advise individuals and organizations on the critical issues regarding retirement funding options.
- Explain the design considerations regarding benefit plans and programmes
- Discern factors that drive costs in benefits and mitigate against those costs
- Create simple benefits plans that satisfy individual and organizational needs.
- Evaluate the effectiveness of benefits programmes
- Analyse an individual's financial status
- Execute the financial planning process
- Analyse the risk and return of investments
- Advise individuals on planning their estates.
The topics to be covered during the 2 day workshop include:
- Demographic transitions
- Types of pension plans
- Types of pension plans and other retirement financing instruments.
- Pension plan design and operation
- Ratio analysis
- Origin of benefits
- Benefits needs assessment
- Benefit cost containment
- Rationale for various types of benefits
- Benefit in Kind taxation
- Personal money management
- Government mandated benefits in Trinidad and Tobago
Facilitator: Mr. Stephen Sheppard
Mr. Stephen Sheppard is currently completing a second Masters Degree, after already completing the Executive Masters in Business Administration, and Advanced Diploma in Human Resource Management (Distinction) both at the Arthur Lok Jack Graduate School of Business. He is a Senior Professional in Human Resources (SPHR) in the internationally recognised Society for Human Resource Management (SHRM), Human Resource Certification Institute. He has successfully lectured the elective Pension and Benefits Planning in the Master Human Resource Management programme at the Arthur Lok Jack Graduate School of Business for the past 8 years, and is a consultant for various public and private sector organisations in the area of Compensation and Benefits. Previous positions at organisations include Manager, Compensation Administration at TSTT; as well as being a member of the Management Committee of the TELCO, TEXTEL and TSTT Pension Plans.
|Date||View Event Calendar|
|Time||8:30 pm – 4:30 pm|
|Cost||TT $4,000.00 (inclusive of training materials, refreshments and Certificate of Participation)
Please note that prices are subject to change without notice.
|Venue||Arthur Lok Jack Graduate School of Business
Max Richards Drive,
Uriah Butler Highway, North West,
Tamara Edwards - ext. 157
Certificates will only be issued to participants who have attained a minimum attendance rate of 75% for the duration of the course.
Course Cancellation/ Reschedule Policy
Arthur Lok Jack GSB (ALJGSB) reserves the right to cancel training at any time. If ALJGSB cancels the training due to unforeseen circumstances beyond the control of ALJGSB, you are entitled to a full refund of the course fee, or your course fee can be credited toward a future training, based upon availability (providing payments have been made before original advertised date).
ALJGSB reserves the right to reschedule training at any time. If ALJGSB reschedules training due to unforeseen circumstances beyond the control of ALJGSB, the training will take place at the next available time. Participants will be informed via phone and/or e-mails.