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?
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Certificate of Completion
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Training Material
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Post Training Support
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Lunch and Refreshments
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Free Valet Parking
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