INTRODUCTION
Successful management and motivation of employees is clearly linked to employee reward systems. There is much correlation between organisational success and effective reward systems, demonstrating that how employees are rewarded should be linked directly to their overall value to the organisation.
This programme, Compensation Packages and Salary Structures focuses on the essential elements of employee reward, proposes an holistic approach to reward systems and provides delegates with sufficient input to get started in this fascinating area of HR.
PROGRAMME OBJECTIVES
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Discuss the concepts of reward systems
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State the elements of reward systems
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State the purpose of reward systems from the organisational and employee perspectives
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Compare different types of salary and pay structures
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Consider the impact of performance related pay
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State the uses of different types of benefits and allowances
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List factors impacting on International pay and expatriate rewards
PROGRAMME SUMMARY
This programme will allow participants to explore a complete overview of the topic. From the initial introduction we will explore various issues in sufficient detail to allow participants to consider the implementation of new modern approaches into their organisations and weigh up the potential benefits and advantages of each approach. The highly practical approach will enable participants to focus on issues that impact most on them and their organisations.
PROGRAMME OUTLINE
DAY 1 - Introduction to Reward Systems
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Introductions
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Objectives – for the seminar and personal
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Defining the roles of HR and line management
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Introduction to reward systems
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The elements of reward
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Reward Management
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Labour markets and economic theories
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Reward philosophies, strategies and policies
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Factors affecting pay levels
DAY 2 - Salary Structures
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Definition of a salary structure
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Pay structures - purpose
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Graded pay structures
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Broad-banding
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Individual job range structures
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Job family structures
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Pay curves
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Spot rate structures
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Pay spines
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Integrated pay structures
DAY 3 - Rewarding Individuals and Teams
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Performance related pay
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PRP as a motivator
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Performance management and reward
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Blue collar incentives
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Skill and competency based pay
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Team rewards
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The link to organisational performance
DAY 4 - Benefits Allowances and Pensions
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Non financial rewards
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Benefits and allowances
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Pension schemes
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Employee benefits strategy and policies
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Flexible benefit systems
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Location and subsistence allowances
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Overtime and shift payments
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Stand-by and call-out allowances
DAY 5 - International and Expatriate Considerations
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International pay
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Expatriates rewards
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Home or host based approach
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Managing reward systems
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Consolidation exercise
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Review of whole course
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Developing personal development plans
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Programme review, summary and feedback