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.
Compensation, Benefit Administration & Reward Management training course will utilise detailed case studies and the latest research to explain reward strategies from an administrative, strategic and human perspective. Managing reward is directly linked to performance, productivity, turnover, attitude and the overall health of an organisation Compensation, pay, benefits, salary and even praise make up what is called ‘reward’. Reward is an integral and vitally important part of the fabric of any organisation, from small to large and from government to privat
Day1: 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
Day2: 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
Executive pay & Executive pay gap recording
Day3: 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
Day4: 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
Day5: Total Remuneration Creating a Reward Strategy
Total Remuneration for the whole organisation
Improved performance of the organisation and individual
Developing a reward strategy
CIPD Pay management survey
Review of the Murlis and Wright model of Total rewards
Personal action planning