Introduction

This exciting course looks at the basic building blocks of effective compensation and benefits administration and then goes on to explore the strategic dimensions - how the whole process can add real ‘value for money’ and help the organisation achieve its strategic objectives. In all organisations it is important that the administration and management of compensation and benefits is of the highest quality.

This course will feature:

• An analysis of the current strategic issues facing organisations today
• The strategic impact of pay and motivation
• How organisations can encourage participation & engagement &achieve organisational objectives & profitability
• How to design compensation to cope with change in both societal & organisational context
• A toolkit of useful practices that will allow participants to scrutinize existing practices

Objectives

• Develop a clear understanding of reward philosophy and strategy
• Demonstrate how the component parts of reward strategy fit together
• Explore issues surrounding the effective management of the human resource
• Describe why staff are the most expensive resource of the organisation
• Evaluate new practices that might benefit their organization

Content

Day One

Compensation and Benefits - Good Organizational Practice

• Philosophy of reward
• Pay structures and systems
• Reward strategies and the psychological contract
• Job grades and Career mapping
• Job evaluation
• Pay surveys

Day Two

Compensation and Benefits - in Context

• Motivation models, money and motivation
• Performance management and performance related pay
• Competency frameworks
• Team rewards
• Upward and 360 appraisals
• Contingent pay

Day Three

The International Perspective

• International and multinational perspectives
• The labour market and Human Resource planning
• Equality and diversity
• Job analysis
• Dynamic organisations and change management strategies
• The changing context and nature of the employment relationship

Day Four

Employee Involvement

• Employee engagement
• Employee participation
• Trades Unions and Employee Representatives
• Consultation
• Involvement in and support of change
• Practical activities

Day Five

Current Good Practice

• Flexible benefits
• National minimum wage
• Commissions and sales staff
• Profit sharing
• Case study
• Action planning