About The Program
Organizations spend a significant proportion of their operating costs on pay, incentives and benefits. However, many of them do not have a reward strategy in place, potentially wasting much of this important investment. Through several case studies, you will explore the different processes needed to develop a robust reward strategy.
Course Objectives
- By the end of this course participants will be able to:
- Understand key components of Compensation and Benefits.
- Design a salary structure and related policies.
- Establish and maintain an organizations pay structure.
- Understand the impact of various options on the reward programs.
- Identify different job evaluation methodologies and decide when to apply them.
- Assess key business, organizational and HR issues that have to be taken into account when developing a reward strategy.
- Have a clear idea of motivation and economic reward.
Course Outline
- Module One
- Definition of Compensation.
- Pay structures and systems.
- Reward strategies and motivation impact.
- Conducting Job analysis.
- Evaluate jobs and who should be involved.
- Determine grades for each job.
- Establishing grade and determine appropriate salary structure in each grade.
- Job description.
- Module Two
- Managing compensation.
- Effective compensation plan and management system.
- Competency framework.
- Understanding benefits and managing an effective benefits program.
- Designing Pay for Performance Plan.
- 360 Appraisals.
- Module Three
- Increase employee engagement.
- Driving employee performance.
- Increase morale and what motivates employees.
- Employee participation.
- Employee retention.
- Encourage company loyalty.
- Career mapping.
- Module Four
- Benefits including vacation, leave, insurance and air ticket allowance.
- Commissions for sales employees, bonus and other rewards.
- Long term incentives.
- Flexible working hours.
- Monitor feedback.
- Make changes when required.
- Balancing internal and external pressures.
- Designing employee surveys.
- Interpret survey results and implementing an action plan.
Duration
12 hours (2 days, 6 hours each day)
Location
Online Live Classroom / Face to Face
Fees
Please submit above form to receive registration and fee information.
What is included?
Certificate of Completion
Training Material
Post Training Support
Lunch and Refreshments
Free Valet Parking
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