Compensation and reward is a controversial area, not only for the organizations but also for the employees. Establishing and managing a reward structure is one of the critical cornerstones of the human resource department. It is extremely important to design the right reward package that supports business goals.
The purpose of the course is to provide the participant with an in-depth understanding of employee compensation and reward management. It will enable participants to gain relevant, in-depth technical knowledge of various compensation and reward programs, how to design pay structures and implement compensation and reward strategies in an organization.
- HR generalist present and aspiring, who want to become more effective in compensation and reward management.
- Compensation practitioners and HR Managers who have to assess, review and design new schemes for their organization.
- Payroll officers, HR Admin Manager
- Total Reward System
- Designing incentive schemes
- Designing Pay Structures and Grade
- Compensation philosophy
- Formulating and implementing Compensation And Reward Strategy
- Understanding Total Remuneration and its importance
- Identify compensation categories and philosophy guiding compensation
- Articulate the goals of compensation and reward in the workplace
- Understand various types of compensations and rewards program
- How to build a base pay structure
- Understanding reward and its objectives
- Identify the various types of incentive schemes and plans
- Demonstrate knowledge and proper use of common and key compensation terminology and concepts
- Analyze scenarios and apply theoretical and practical approaches to address various compensation and benefits issues and opportunities;
- Develop basic skills in developing job evaluation, pay structures and performing job analysis;
- Understand the impact of compensation and reward on performance and outcomes;
- Learn the process of designing a successful compensation and rewards strategy
- Understand practical ways in designing, developing, implementing and managing employee’s salary, bonus and benefits packages?
- Gain practical knowledge and hands-on experience on how to devise compensation and reward policy? And be able to administer the pay system according to your organization’s policy?
- Learn how to calculate PAYE and ensure it complies with statutory and regulatory requirements, such as minimum salaries and tax liabilities?
- Master how to build an organization base pay structure that will ensure the firm is competitive with other similar firms (external competitiveness).
- Understand philosophy relating to compensation and reward for better management?
- Identify a variety of reward systems used to determine individual pay levels.
- Master the important principles that should always underline how you design incentives at your company with case studies
- Receive practical tips for analyzing data and the implementation of any Rewards project
- Certification awarded upon completion of course
- Free HR e-resources and templates
- Free online training