Outcomes
By the end of this training course, trainees will be able to :
- Describe global best practices in reward systems and benefits.
- Explain the elements financial, psychological, and motivational concepts that influence reward systems and strategies
- Describe the process of designing and building the reward system in an organization
- Discuss the role that reward strategies and policies play in an organization
- Differentiate between the various factors that influence employee satisfaction in relation to compensation and benefits system
- Identify the case for non-financial rewards in attracting, retaining and motivating people.
Target Group
- Human resource professionals working on reward systems.
Contents
- Introduction:
- Definitions.
- Factors that affect reward systems.
- What is the Pay-package?
- Reward strategy and links to overall company strategy.
- Total reward Concept.
- Reward in Action:
- The administration of the reward systems.
- The process of designing and developing the reward system.
- Job evaluation methodologies.
- Designing and analyzing salary surveys.
- Performance and Motivation Issues :
- Pay and motivation.
- Performance mmanagement.
- Appraisal and reward.
- Performance-based Pay.
- Bonuses and Incentives.
- Compensation and Benefits Strategy:
- Basic principles of strategy.
- reward strategies.
- Reward strategy as a process.
- Developing a reward strategy.