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

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

• 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

This course will prove to be valuable and productive for all those who are interested in pay and reward, compensation and benefits. Participants of all levels will gain valuable knowledge and skills.

This course is suitable to a wide range of professionals but will greatly benefit:

• HR staff who are responsible for the administration of benefits and reward
• Compensation and Benefits specialists who are new to the area or are looking for a refresher course
• More senior HR Staff who are interested in the strategic value of compensation and benefits
• Line Managers and Senior Staff who are responsible for managing and motivating Staff – and need a better understanding of the impact of remuneration
• Others who wish to understand about this important subject

This course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes a variety of learning methods, including mini-lectures, extended case studies and self questionnaires.

There will also be small group work, class discussion and multimedia training aids. There will also be video clips and up to date news items.

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