Certified Benefits Professional

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CONTENTS

#1

Learning Promise

Quick Snapshot

Learning Experience

#2

Learning Anchors

Point of View

Program Snapshot

Evaluation Criteria

Module Details

Course Curriculum

#3

Commercials

Calendar

Connect with Us

Registration Details

#5 Learn from our Best Consultants

Architects

#4

Aon Hewitt Learning Center is on a mission to provide real learning to help HR impact business outcomes. We bring together our consulting insights and capability building expertise to create highly-specialized learning journeys for HR professionals

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LEARNING PROMISE

Effective Partnership

Technical Expertise

Business Acumen

Gain leaders’ trust to sharpen the human capital agenda

Understand business imperatives, connect people initiatives

Navigate across contexts to create tangible impact

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QUICK SNAPSHOT Alumni refer

someone for an AHLC course

40%

200

HR leaders are a part of our alumni community

8000

Is the median participant experience

Alumni feel empowered to drive business

results

10 years

80%

HR professionals have received training via our

courses

1

2

Flagship certificate courses for HR professionals

Bespoke HR capability journeys for organizations

Our Capabilities

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LEARNING EXPERIENCE

Registration

E-Learnings

Online Discussion

Learning Lab

Assignment

Comprehensive Assessment

Get your courseware

Connect with peers

Learn from our best consultants

Reinforce your learning

Certify your learning

Register

Point of View Our Learning Anchors

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UNCOVERING BENEFITS

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

Defining Benefits

Need for Benefits

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

Increase engagement 80% employees said flexible work affected retention positively

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

*Source: Aon Hewitt Benefits Study 2015 – Insights & Perception

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BENEFITS IN INDIA

• 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

• 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

• 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

1990s and earlier

2000 - 2010

2010 onwards

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TYPES OF BENEFITS

Benefits based on Employee Utilization

Traditional Approach

Retirement Health Insurance

Lifestyle Miscellaneous Paid time-off

In Rewards Framework

Health care Medical

Insurance

Retirement Pension

Savings Plans

Work/Life Time Off

Flexible Work

Wellness Health Assessments Wellness Screening

Com

pany

Personal

Experiential

Financial

Medical Allowances Conveyance Allowances Leave Travel Allowances Telephone Reimbursement Meal Allowances

Company Leased Vehicle Company Leased Accommodation Hard Furnishing Allowance

Insurance Benefits Health & Wellness Executive Education

Recognition platforms Childcare

Insurance Utilities Financial Assistance Concierge Service Gym Memberships

Travel / Holidays Medical Facilities Education Lo

w

Util

izat

ion

Hig

h

Util

izat

ion

Salary Benefits Formalized Benefits Corporate Tie Ups

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DRIVERS OF STRATEGY

Market prevalence and

competitiveness

Employee perceived value of benefits

Global atmosphere and strategy

Elements which will create the organization’s

‘brand’

Statutory regulations and

amendments

Plans to maximize tax

savings

Market Preference Differentiation

Tax Regulation Directives

Governance mechanism for stakeholders

Implementation

Financial value and cost for each benefit

Financial

COMMUNICATION

Employee Engagement

Total Rewards Communication

Customer Value Proposition (CVP)

Employee Value Proposition (EVP)

Align CVP and EVP

Embed differentiated EVP to

rewards strategy

Eva

luat

e im

pact

of C

VP

to re

fine

com

mun

icat

ion

Use targeted communication to increase engagement

Communication Governance

Information Strategy

Brand

Messaging

Communication Vehicles

Framework Parameters

Employee Preference

Survey

Input

Communication Framework

Communication Implementation

Employee Benefits Communication Framework Process

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GOVERNANCE

Effective Governance: Measures

Fixed Structure “Tax Efficent” Fixed Structure

Flexible Structure

Rigid employers

Evolved Employers

Tax Structures: Evolution

Trust Management: Considerations

Sufficiency of Funds

Target size of the Fund

Level of Contributions over time

Growth of the Fund

Organization’s Funding Principle

Availability of Information

Risk and Opportunity Assessment

Strategic Policies: Design

and Financial

Ongoing Reporting and

Monitoring

Formal Structure for

Execution

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FLEX BENEFITS Construct of Flex Benefits

Core Benefits • Required by law • Mitigate risk of poor selection

Optional Benefits • Selected by employee choices • Choices made annually

Core Benefits

Optional Benefits

Flex Credits

Flex Credits • Defined contributions approach • Differentiated fixed amount of Flex

Credits given

Disbursement of Flex Benefits

8-12 weeks Feasibility Study

8-10 weeks Plan

Design

6-8 weeks Communication

10-12 weeks Implementation

Assessment of organization’s readiness for Flex Benefits

Design decisions on benefits budget & cost impact projections

Configuration of system requirements and user testing

Defining target audience; communication plan and material

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DIFFERENTIATED BENEFITS

Build Awareness to highlight importance Education

Analyze current level of financial wellbeing Assessment

Design and launch support programs Action

Continuous support and communication Marketing

Type A: Financial Wellness Approach

Type B: National Pension Scheme Highlights

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2

3

4

Voluntary Defined

Contribution Plan

NPS: Highlights

Robust structure

Formidable governance

Wide Coverage

Flexible investment

options

Option to choose Fund

Manager

Course Curriculum Design and deploy your benefits strategy

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PROGRAM SNAPSHOT

Online Learning Modules* Online Discussion Boards*

Learning journey spanning across four contact classes and a comprehensive online assessment

Day 1 Day 2 Assessment

*Active for one year

Communication Design Strategy Flex Benefits Final Assessment Governance Differentiated

Benefits

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EVALUATION CRITERIA

40%

20%

20%

10%

10% E-Learnings

Online Discussion

Class Participation

Assignments

Final Assessment

• 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

MODULE DETAILS

Objectives

Outcomes

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• 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

• 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

1 Strategy Plan the benefits strategy of an organization

MODULE DETAILS

Objectives

Outcomes

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• 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

• 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

2 Design Calibrate different design considerations

MODULE DETAILS

Objectives

Outcomes

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• 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

• 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

3 Governance Manage taxation, trust fund and enablers

MODULE DETAILS

Objectives

Outcomes

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• 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

• 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

4 Communication Execute effective communication plans

MODULE DETAILS

Objectives

Outcomes

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• 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

• 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

5 Flexible Benefits Comprehend and implement flex benefits

MODULE DETAILS

Objectives

Outcomes

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• 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

• 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

6 Differentiated Benefits Build awareness on benefits disruptors

Architects Access the best minds in the industry: experiences, insights, growth. Delivered.

LEARN FROM OUR BEST CONSULTANTS

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Anandorup Ghose leads Aon Hewitt’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

LEARN FROM OUR BEST CONSULTANTS

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Chitra is the Practice Leader and the lead Actuary for the Retirement Practice of Aon Hewitt’s India business in Mumbai. She has been with Aon Hewitt for the last 9 months. She has 24+ years’ experience in Actuarial Valuations under Indian GAAP, IFRS and US GAAP for India, Sri Lanka, Pakistan, Bangladesh, Thailand & Turkey. She has also worked in the area of life reinsurance business costing, pricing, basis for terms of trade and experience analysis, Valuation of Liabilities under UK regulations, Embedded Value calculations, analysis of surplus, Economic Capital and Life underwriting.

In addition to providing financial results, Chitra also works on benefits projects which included developing a benefits philosophy, benefits design and reviewing benefits for multinational companies in India. She also works on Due Diligence and Trust Governance projects governing the private trusts in India. She is also responsible for conducting surveys of accounting assumptions and retirement benefit studies and produce appropriate reports on these studies.

Chitra has earned a B Sc. degree in statistics at the University of Madras. She is a Fellow of the Institute and Faculty of Actuaries, UK, Fellow of the Institute of Actuaries of India and Fellow of the Insurance Institute of India. She is also a member of the Advisory Group on Pension, Employee Benefits and Social Security Schemes of the Institute of Actuaries of India.

Chitra Jayasimha Actuary

India Practice Leader, Retirement and

Investment

Chitra’s Mantra If I asked people what

they wanted, they would have asked for a

faster horse. Henry Ford

LEARN FROM OUR BEST CONSULTANTS

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Poonam is a senior consultant in Aon Hewitt’s Talent and Rewards consulting practice. She leads the compensation business for the Consumer & Life Sciences Industry in India.

Poonam has been with the firm for over 9 years. She has rich experience in the area of compensation & benefits consulting across FMCG/D, Pharmaceutical, Engineering Manufacturing, and Retail industries. Her consulting experience spans across working with local and multinational clients in India and South East Asia.

Her areas of specialization include Job Evaluation, Compensation and Benefits Benchmarking, Compensation Structuring, Variable Pay Design, Sales Incentive Design & Audits, Rewards Philosophy Articulation, Pay Range Design and Compensation Implementation Support.

Poonam has played an pivotal role in institutionalizing flagship research studies for Aon Hewitt India, namely, Campus Compensation Study, Employee Preference Study, Salary Increase Survey, Workforce Analytics Study among others

She also leads the facilitation of Aon Hewitt Learning Centre programs for Compensation professionals in India.

Poonam did her graduation in Economic honors from the Delhi University and holds a degree in German language from Max Mueller Bhavan, Delhi.

Poonam Chopra Senior Consultant,

Rewards Consulting (General Industry),

India

Poonam's Mantra To do a common thing

uncommonly well brings success Henry J. Heinz

LEARN FROM OUR BEST CONSULTANTS

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Vishal is a Senior Consultant in the Retirement and Investment Practice at Aon Hewitt 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

Registration Details Take the leap: simple three step registration and welcome real learning

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COMMERCIALS, CALENDAR & CONNECT WITH US

Connect with us aonahlc@aohewitt.com

011 39585050 Course Fee (inclusive of taxes)

₹45,000* Participation will be confirmed post payment

Learning Center Classroom sessions

16 hours

Online Discussion Board Active for one year

Participant Handbook Pre-reads 10 hours

Certification Aon Hewitt Certified

Benefits Professional

Course Calendar Click to view

Terms & Conditions Click to view

CONTACT US Aon AHLC Inquiry Mailbox: aonahlc@aonhewitt.com Amit Kumar: amit.kumar.29@aonhewitt.com