Compensation, Benefit Administration & Reward Management
Training & Human Resources
Introduction
Smart employers know that keeping quality employees requires providing the right compensation and benefits package. Compensation includes wages, salaries, bonuses and commission structures. Properly compensating employees shows you value them as workers
and as human beings. When people feel valued, they feel better about coming in to work.
Overall company morale increases and people are motivated to
come to work and do a good job. Additionally, when employees know there are
bonuses or commissions, they are increasingly motivated to deliver grander
results. Bonus and commission compensation plans become a focal point for
success.
By the end of the course, participants will be
able to:
- Describe the key economic, psychological and motivational concepts that influence reward
- Discuss the role of reward strategies and policies in an organisation
- Contribute to the administration of employee-reward policies and processes
- Differentiate between the factors that influence employee satisfaction with the reward system
- Defend the case for non-financial rewards in attracting, retaining and motivating people
- Design a strategic reward plan.
Training Methodology
A highly interactive combination of lecture and discussion sessions will be managed to maximize the amount and quality of information, knowledge and experience transfer. The sessions will start by raising the most relevant questions, and motivate everybody finding the right answers. The attendants will also be encouraged to raise more of their own questions and to share developing the right answers using their own analysis and experience.
Course Outline
Day 1:
Performance, Performance Related Pay and Motivation
- Performance
Management.
- Development and training.
- Performance related pay.
- Current best practice examples.
- Contribution-related pay.
- Case study of reward practice at Netflix.
Day 2:
Administration of Reward Equality and Inequality in Pay
- The administration of reward.
- Salary and pay surveys.
- Job evaluation.
- Equality in reward.
- Inequality in reward– causes and solutions.
- Executives’ pay & Executive pay gap
recording.
Day 3:
Payroll And Frauds
- The fraud tree.
- The HR 4C's policies.
- Personnel behavior and commitment.
- Acceptable and Unacceptable Behavior.
Day 4:
Non-financial Rewards and Empowerment Employee Benefits
- Non-financial rewards.
- Employee Participation.
- Employee Engagement.
- Employee Benefits.
- Flexible benefit systems and Cafeteria rewards.
- The role of Pensions.
Day 5:
Total Remuneration Creating a Reward Strategy
- Total Remuneration for the whole organization.
- Improved performance of the organisation and
individual.
- Developing a reward strategy.
- CIPD Pay management survey.
- Review of the Murli’s and Wright model of
Total rewards.
- Personal action planning.
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