Description
As a Human Resources professional, one of the most critical aspects of your role will be in understanding and helping to shape the compensation and rewards management strategy and processes within the organization. Compensation plays a central role in the recruitment and retention of staff, and effective management of the structures and practices associated with compensation and benefits policy can significantly influence employee morale and performance. Rewards management also plays a vita role in employee retention, and ensuring that the reward and recognition systems support the execution of corporate goals and objectives is a vital responsibility of the H-R department (and other line management).
This course provides H-R professionals with a comprehensive insight into the core principles of effective compensation and benefits management, and how to create and manage workable and value adding pay grades and structures, and ensure compliance with regulatory requirements and employee representative body (union) aspirations. In addition, you will learn how to shape and manage employee reward schemes which support corporate strategic goals and promote loyalty and enhance employee retention.
COURSE CONTENTS
This courses comprises the following lessons:
Lesson 1 – Getting Started
SECTION 1 UNDERSTANDING COMPENSATION
Lesson 2 – The Nature of Compensation
Lesson 3 – Pay Levels
Lesson 4 – Market Rates
Lesson 5 – Grade and Pay Structures
Compensation and Rewards – Quiz 1
SECTION 2: REWARDS STRATEGY
Lesson 6 – Rewards and Strategy
Lesson 7 – Rewards and Performance
Lesson 8 – Merit-based Rewards
Lesson 9 – Gainsharing
Lesson 10 – Stock-based Rewards
Lesson 11 – Non-Financial Rewards
Compensation and Rewards – Quiz 2
SECTION 3: SYSTEM DESIGN
Lesson 12 – Evaluating Reward Systems
Lesson 13 – Reward System Design
Lesson 14 – Wrapping-up
Compensation and Rewards – Quiz 3
Compensation and Rewards – Course Evaluation
CERTIFICATION: DOWNLOAD YOUR CPD CERTIFICATE ON COMPLETION
