Introduction

In all organizations, the Human Resource is the greatest expense, so it is important that the administration of Compensation and Benefits is of the highest quality. Well, trained Remuneration staff are able to monitor the systems in place and add a strategic perspective.

This exciting new program looks at the basic building blocks of effective benefits administration and then goes on to explore the Strategic dimensions - how the whole process can add ‘value for money’ and help the organization achieve its objectives.

The Strategic dimension will focus on the current strategic issues facing organizations today – how to design strategy to cope with change in the societal setting and how to cope with change in the organizational context. We will look at the question of how organizations can encourage participation and engagement and still achieve organizational objectives and profitability.

Delegates can expect to develop a ‘toolkit’ of useful practices that will allow them to scrutinize the existing practices in their organizations and compare them to current good practice.

Course Objectives of Compensation & Benefits Management

• As a result of attending this workshop delegates will have developed a clearer understanding of Reward philosophy and strategy
• Have a better understanding of how the component parts of reward strategy fit together
• To explore some of the issues surrounding the effective management of the human resource
• To understand why ‘staff’ are the most expensive resource of the organisation
• To evaluate ‘new’ practices that might benefit your organization

Course Process of Compensation & Benefits Management

The workshop uses 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. We will use video clips, and up to date news items.

Course Benefits of Compensation & Benefits Management

For delegates to be able to contribute effectively to the compensation and benefits practice and strategy in their organization.

Delegates will be:

• More effective, and contribute more to the what and how of reward management
• Have a firm methodological underpinning of compensation and benefit management
• Clearer about what a Benefits strategy should look like and contain
• And how to develop an appropriate benefits strategy

Course Results of Compensation & Benefits Management

• Delegates will be better able to contribute more strongly on how to distribute reward
• Delegates will be able to use tools and techniques to help managers be more effective in remuneration planning and strategy
• Delegates will have discussed and practiced some key approaches to strategic design
• Delegates will be better able to contribute more strongly on how to distribute reward

Core Competencies of Compensation & Benefits Management

• Reward management
• Compensation and benefits
• Strategic design
• Problem solving
• Self - development

Course Outlines of Compensation & Benefits Management

Day One

Compensation and Benefits - Good Organizational Practice

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

Day Two

Compensation and Benefits - in Context

Motivation Models

• Performance management
• Competency frameworks
• Performance-related pay
• Money and motivation
• Team rewards
• Upward appraisal
• 360 appraisal
• Contingent pay

Day Three

The International Perspective

• International Perspectives
• Multinational perspectives
• The labour market and Human Resource Planning

Equality and Diversity

• Recognition schemes
• Discrimination and diversity
• Equal pay
• Equal pay audits
• Job analysis

Change Management

• Dynamic organisations
• Change management strategies
• The changing context and nature of the employment relationship

Day Four

Employee Involvement

• Employee engagement
• Employee participation
• Trades Unions and Works Councils
• Consultation

Day Five

Current Good Practice

• Flexible benefits
• National minimum wage
• Sales staff
• Profit sharing
• Case study
• Review of learning
• Action planning