Advance Reward Management Program

Start Date End Date Venue Fees (US $)

Advance Reward Management Program

Introduction

Learn what is required to formulate a rewards program that has the power to attract, motivate and retain—total rewards. Participants are introduced to the total rewards model and each of its components. Emphasis is given to the five elements of total rewards: compensation, benefits, work-life, performance and recognition, and development and career opportunities.

  • Gain an understanding of total rewards management
  • Discover the five elements of total rewards
  • Understand the critical role of the main drivers — organizational culture, business strategy and human resources strategy
  • Learn the process of designing a successful total rewards strategy

Objectives

    At the end of this training course, participants will learn to:

    • Increase your business performance and employee effectiveness by implementing advanced compensation and reward systems that attract, retain and motivate staff
    • Discover practical steps to implement advanced compensation techniques for market pay to benchmark, managing pay-for-performance and SIPs (Sales Incentive Plans)
    • Develop solutions for your compensation and reward issues and challenges based on practical case studies and interactive course and clinic discussions
    • Network with your fellow delegates and Course Director to discuss practical issues of compensation and reward management

Training Methodology

This is an interactive course. There will be open question and answer sessions, regular group exercises and activities, videos, case studies, and presentations on best practices. Participants will have the opportunity to share with the facilitator and other participants what works well and not so well for them, as well as work on issues from their own organizations. The online course is conducted online using MS-Teams/ClickMeeting.

Who Should Attend?

This course is designed for professionals who want a overview of the components that can create an effective balance in employee rewards tools. This includes professionals new to human resources, HR generalists and line managers.

Course Outline

Introduction to Total Rewards

  • The evolution of rewards
  • The total rewards model
  • The total rewards approach
  • The total rewards strategy

Compensation

  • Elements of compensation
  • Building a job worth hierarchy
  • Components of a base pay structure
  • Types of base pay
  • Types of pay adjustments
  • Variable pay

Benefits

  • Elements of benefits
  • Factors influencing benefits
  • Income protection programs
  • Pay for time not worked programs

Work-Life

  • The work-life professional
  • The work-life portfolio

Performance and Recognition

  • Performance management
  • Performance management process Phases 1 through 4
  • Recognition program

Development and Career Opportunities

  • Conduct annual development and career opportunities discussion
  • Learning opportunities
  • Types of development and career opportunities

Total Rewards – Putting It All Together

  • Revisiting the total rewards model
  • Drivers of the total rewards strategy
  • The total rewards strategy
  • The total rewards design process
  • Total rewards design considerations

Accreditation

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