Course Description

INTRODUCTION

Your organizations growth and success depend on the talent you attract, retain, and develop. This exciting and innovative course will use detailed case studies and the latest research to explain compensation and benefits strategies from an administrative, strategic, and human perspective.

Compensation, pay, benefits, salary and even praise makeup what is called ‘reward’. Compensation and benefits are an integral and vitally important part of the fabric of any organization, from small to large and from the government to private sector bodies.

Objectives

By the end of this Advanced Compensation and Benefits training course, participants will learn to:

Describe best practices in compensation and benefits

Explain the critical economic, psychological, and motivational concepts that influence reward

Discuss the role of reward strategies and policies in an organization

Differentiate between the factors that influence employee satisfaction with the compensation and benefits system

Defend the case for non-financial rewards in attracting, retaining and motivating people

Practical methodologies that can help improve compensation and benefits

Staff promoting best practices in reward

Improved employee engagement

Implementation of reward best-practices

Pay efficiencies improved, leading to better organizational performanceThe benefit of this course

Enhanced skills in compensation and benefits

Improved practical knowledge of compensation

The ability to understand reward strategy

Increased understanding of human motivation

Course Outline

Day 1

Compensation and Benefits in Context

Business Contexts for Compensation and Benefits

Long-term Compensation Trends

Composition of the Pay-package

Compensation and Benefits Strategy

Total Reward Concepts

Day 2

Reward in Action

The Administration of Compensation and Benefits

The Global Perspective

Executive Compensation and Benefits

Public-Sector and Private-sector Contrasts

Salary and Pay Surveys

Day 3

Performance and Motivation Issues

Pay and Motivation

Performance Management

Appraisal and Reward

Performance-based Pay

Bonuses and Incentives

Day 4

Compensation and Benefits Strategy

Understanding the Principles of Strategy

Compensation and Benefits Strategies

Reward Strategy as a Process

Step-by-step Guide to Developing a Reward Strategy

Job Evaluation Explained

Day 5

Compensation Best Practices

Developments in Compensation and Benefits

Flexible Benefits

Pensions

Pay Inequality

Personal Action Planning