Certificate In Compensation and Reward Management
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COURSE DATES AND LOCATIONS
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Duration
LOCATION
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INTRODUCTION
It’s known that Fundamental components of compensation and reward management and HR involve working with grade and basic salary structures often taken for granted. Rather than make changes. The course will cover all areas of compensation and reward management. This includes grading structures, salary structures, and pay scales, allowances, pay reviews.
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COURSE OBJECTIVES
By the end of the course, you‘ll be able to:
- Implement a grading system with a basic salary structure and pay scheme, or update your existing compensation structures
- Develop solutions for your own compensation and reward issues and challenges based on practical case studies, and interactive course and clinic discussions
- Network with your fellow course delegates and course tutor to discuss practical issues at your workplace
- Increase business performance and employee effectiveness by implementing compensation and reward systems that attract, retain and motivate staff
- Align your basic salary structures and grades, and compensation and reward systems to your business objectives and HR strategy
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COURSE AUDIENCE
This course is made for
- All specialists in HR who are involved in Performance Management and Appraisals
- All managers from any functional area who need to know about Rewards and Performance
- All managers, professionals, and specialists who work in any area of HR
- All specialists in HR who work in Compensation, Remuneration, and Rewards
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COURSE OUTLINE
Day One
The Context of Compensation, Benefits Administration, and Reward Management
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- Introduction to Compensation, Benefits Administration & Reward Management
- The psychological contract
- Total reward concepts and approaches
- Reward Strategy -Identifying what it looks like
- Human Resource Strategies and Policies
- Pay philosophy and compensation strategy
Day Two
Administration of Reward Equality and Inequality in Pay
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- The administration of reward
- Salary and pay surveys
- Job evaluation
- Equality in reward
- Inequality in reward– causes and solutions
- Executive pay & Executive pay gap recording
Day Three
Performance, Performance-Related Pay, and Motivation
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- Performance Management
- Development and training
- Performance related pay
- Current best practice examples
- Contribution related pay
- Case study of reward practice at Netflix
Day Four
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 Five
Total Remuneration Creating a Reward Strategy
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- Total Remuneration for the whole organization
- Improved performance of the organization and individual
- Developing a reward strategy
- CIPD Pay management survey
- Review of the Murlis and Wright model of Total rewards
- Personal action planning
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