Compensation, Benefit Administration and Reward Management

By the end of this training course, participants will be able to:

• Describe the economic, psychological and motivational concepts that influence reward
• Discuss the role of reward strategies and policies in an organisation
• Assess their own organisation for fairness and equality
• Defend the case for non-financial rewards in attracting, retaining and motivating people
• Design a strategic reward plan

CONTENT:

The Context of Compensation, Benefit Administration and Reward Management

• 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

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

Performance, Performance Related Pay and Motivation

• Performance Management
• Development and training
• Performance related pay
• Current best practice examples
• Contribution related pay

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

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

FOR WHOM:

Human Resources Managers, Admin Managers, Senior Managers, Directors, Admin Officers and others who perform related functions.   

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.