Course Overview

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

Course Objectives

• 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

Course Outline

Rewards Strategy

– Formulating a human resource strategy
– Formulating a total reward strategy
– Determining the mix of rewards components
– Establishing a competitive total rewards posture
– Implementing a process for continuous evaluation of strategy

Performance Management

– Defining performance at the organization, unit and individual levels
– Developing performance criteria, measures and standards
– Establishing the link between performance and rewards

Role Of HR and Management

– Determining who will develop and execute strategies
– Defining the role HR and management in developing programs
– Defining the role of HR and management in administering programs

Base Pay Management

– Designing and documenting employee roles (jobs)
– Developing a relative internal value hierarchy (job evaluation)
– Determining the market value of jobs (job pricing)
– Developing a pay structure
– Administering individual pay rates
– Program administration and evaluation

Variable Pay Management

– Role of variable compensation in direct compensation
– Types of variable compensation programs
– Program design and administration
– Administering variable compensation awards
– Program administration and evaluation

Direct Compensation Programs For Different Employee Categories

– Executives
– Professionals
– Support Personnel
– Sales Personnel
– Teams
– Public/Not For Profit Sector Employees
– Global/Diverse Workforces

– Developing Policies And Ensuring They Guide Manager Decision-making
– Communicating Rewards Strategy And Programs
– Training All Parties At Interest
– Doing Environmental Scanning And Scenario Planning
– Evaluating Strategy Effectiveness
– Evaluating Individual Program Effectiveness
– Managing Change To Strategies And Programs