It’s more than just numbers
Effective total rewards strategies set any company apart from its competition. Understand new approaches to creating the ideal rewards mix for your organisation to attract, motivate, engage and retain its workforce. Learn how you can balance short-term and long-term objectives driven by the organisational culture, business strategy and human resources (HR) strategy.
Who should attend?
This programme is introducing HR Business Partners, HR professionals and Finance professionals eager to acquire the essential skills to Total Rewards.
While often perceived as complex and highly depended on mathematics, we’ll change participants’ minds and show you how to easily apply the different approaches to Total Rewards in their company.
What are the objectives?
Upon completion of the programme, you will have the knowledge and skills necessary to:
- Identify the five elements of Total Rewards
- Describe the link between Total Rewards and other core functions of HR
- Choose the appropriate elements to develop an effective total rewards strategy
- Define innovative approaches to non-financial rewards
- Administer total rewards systems and programmes.
What we cover?
Over 3 intensive and hands-on days, you will gain a fundamental overview of Total Rewards and its role within strategic HR. You will delve into the different areas of Total Rewards and learn what makes effective rewards programmes.
The programme includes the following modules:
- Total Rewards and HR
- Aligning the organisation’s, HR’s and Total Rewards strategies
- Defining the appropriate total rewards mix for your company
- Job evaluation and analysis
- Principles of common job evaluation systems including Hay
- Performing fair and analytical job evaluations
- Avoiding common job evaluation challenges
- Designing an employee grading structure
- Compensation
- Gaining market insights with compensation surveys
- Designing and building salary structures
- Offering market-relevant and job-specific pay and allowances
- Supporting business objectives with variable incentive pay
- Benefits
- Providing statutory benefits
- Administering end of service benefits
- Introducing employee wellbeing plans
- Managing retention with long-term benefits
- Work-life
- Integrating work-life activities
- Applying workplace flexibility
- Performance and recognition
- The performance cycle
- Modern approaches to recognition
- Utilising non-financial rewards to recognise and reward employees
- Career development
- Creating internal careers
- Identifying high potential
- Developing for internal succession